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    • Action plan

    Identifying growth opportunities in your current customer base

    Medium effort

    High impact

    Starting at the bottom of your sales funnel is a great way to increase revenue. What new opportunities can you find to help your existing customers? Market research is easier because you have existing relationships and the cost of sale is likely to be lower because you don’t need to reach a new audience.

    • We’ve designed our action plans to be completed in the order of steps laid out and explained why each step is important
    • Customising your action plan lets you set your own completion dates, assign tasks to others and get notifications
    • Helpful tools are provided for certain steps while a tracking metric at the end will help you determine the long-term success of your effort
    • A downloadable PDF version of each action plan is available if you’d like to compete it offline
    What's involved? Ways to use this action plan Measuring impact
    1

    Create surveys and conduct interviews to identify customer needs

    Impact: medium

    Why will this help?

    It’s likely your customers are using services and products that complement your offering or perhaps there’s something that they think would be useful. Talking to them about how they use your product or service is a great way to identify opportunities.

    Creating a customer feedback survey

    Use this customer feedback survey to gauge how customers feel about your product or service and find ways to improve.
    2

    Use a SWOT analysis to map out your business and how it fits in the competitive landscape

    Impact: medium

    Why will this help?

    Looking at the suite of services or products companies in your sector offer provides ideas for what you could add. Characteristics identified in the strengths, opportunities and threats sections all point to growth opportunities within your existing customer base.

    Creating a SWOT analysis for your own business

    Use our free SWOT analysis template to define your company’s strengths, weaknesses, opportunities and threats.
    3

    Conduct a skills gap analysis

    Impact: high

    Why will this help?

    Talking to project managers and other team members can help service-based businesses understand what additional skills clients need and what can be brought in-house. That can increase revenue and margin respectively.

    Conducting a skills gap analysis

    Use our free skills gap analysis checklist to determine the key skills missing from your organisation.
    4

    Develop ideas for add-ons or product innovations that support your mission

    Impact: medium

    Why will this help?

    Upselling add-ons that embody your mission is a great way to strengthen relationships and generate additional revenue. Use the points you’ve identified in the first three steps and look at your company values.

    How ethical values helped this Cornish surf brand make waves

    For Finisterre, a Cornish surf brand, ethical values aren't just a moral question – its values helped shape its unique selling point (USP).
    5

    Find partners that can help you generate new revenue streams

    Impact: high

    Why will this help?

    Charging referral or affiliate fees means you can offer a new service or product – and generate revenue – without having to develop it in-house. Having trusted partners provides value to existing customers who want recommendations.

    Building a network from scratch

    Building a network allows you to access advice and guidance from other business leaders and experts. Use our checklist to get started.

    What can I do with this Action Plan?

    Start this Action Plan

    Add some extra information to this plan and we’ll help you get it done.

    • We’ve designed our action plans to be completed in the order of steps laid out and explained why each step is important
    • Customising your action plan lets you set your own completion dates, assign tasks to others and get notifications
    • Helpful tools are provided for certain steps while a tracking metric at the end will help you determine the long-term success of your effort
    • A downloadable PDF version of each action plan is available if you’d like to compete it offline

    Download and print

    Get a printable template for this Action Plan, fill it in with some target dates, and share it with your team. Pin it on the wall where everyone can see it.

    Get the printable Action Plan

    Learning Groups

    We also run Learning Groups on these topics where you can join other leaders tackling the same challenges.

    Find a Learning Group

    How will I know if my action plan is working?

    Average sale size

    Deal size shows how well you're monetising customers

    Why this metric?

    Increasing spend per customer drives revenue with minimal additional marketing cost.

    How do I start tracking?

    Use your CRM or ecommerce platform to get data on average sale or deal value. Start recording the trend and think about building it into your KPIs.