3 Frameworks for Boosting Revenue

This back-to-basics look at how marketing teams drive sales can help energize your team and start winning at the only metric that ultimately matters, revenue. 

4 min read

Shaking things up

frameworks for more revenue
Frame­works can help you regain per­spec­tive.

At some point, every mar­ket­ing leader hits a slump.

It may be that the fre­net­ic exe­cu­tion of projects has forced you into the weeds too much and you need to step back and regain per­spec­tive. Or, you might find your­self in the dol­drums where, for what­ev­er rea­son, things just don’t seem to be mov­ing and the right direc­tion feels hid­den for you.

Some­times these obsta­cles are too stub­born to be dis­lodged by short-term fix­es like

  • get­ting exposed to new ideas in a book or pod­cast
  • lis­ten­ing to the music that pumps you up
  • talk­ing to an old friend or men­tor
  • find­ing a way to inter­sect with new peo­ple
  • going for a walk or a work­out.

If you’re like me, these sce­nar­ios give me a full-blown feel­ing of imposter syn­drome. I feel an urgency to find new focus and a renewed uptick in my con­tri­bu­tion to the orga­ni­za­tion.

A reli­able tech­nique I’ve used is tak­ing basic frame­works and over­lay­ing them on where the com­pa­ny is now. Since the com­pa­ny is always mov­ing, it’s unlike­ly to look the same in this light as it did even just a few months ago.

Here are three of my favorites.

1. Three levers for growing sales

There are three, and only three, things that grow sales. They are,

Increase the num­ber of new cus­tomers. The key to growth is grow­ing the num­ber of peo­ple who buy from you. The ear­li­er your com­pa­ny is, the more that aware­ness is the key mar­ket­ing goal from which all oth­er objec­tives spring.

Increase the size of trans­ac­tions. This could be a pric­ing adjust­ment, add-ons, up-sells, and cross-sells, or recon­fig­ur­ing your prod­uct. Con­sid­er what does it take to make your cus­tomer hap­pi­ly part with more mon­ey each time they trans­act with you. In the B2B SaaS set­ting a good exam­ple of this is cre­at­ing neg­a­tive churn.

Increase the fre­quen­cy of trans­ac­tions. Is there some­thing that would make cus­tomers return more often? In a retail or e‑commerce B2C set­ting, you can cre­ate incen­tives for repeat buy­ing and loy­al­ty. In B2B SaaS this is about attack­ing cus­tomer churn (increas­ing the fre­quen­cy from zero repeat trans­ac­tions).

Think through the three levers and see if an idea for increas­ing sales num­bers does­n’t stand out to you.

The three levers for grow­ing sales are, 1. increase num­ber of new cus­tomers, 2. increase size of trans­ac­tions, and 3. increase trans­ac­tion fre­quen­cy. #sales #rev­enue Click To Tweet

2. Articulate your customer acquisition model

It can be com­mon for mar­ket­ing KPIs to focus on cus­tomer acqui­si­tion costs (CAC). What does it cost to acquire one more cus­tomer? But CAC lives with­in a larg­er pic­ture of the cus­tomer acqui­si­tion mod­el (CAM). The CAM is all the steps that occur to pro­duce a trans­ac­tion. It includes

  • phys­i­cal steps tak­en by the buyer—the Buy­er’s Jour­ney
  • psy­cho­log­i­cal steps tak­en by the buyer—such as the Lavidge Stein­er Hier­ar­chy of Effects upon which most mar­ket­ing and sales fun­nel stages are based. (e.g., Aware­ness, Con­sid­er­a­tion, Deci­sion, Pur­chase)
  • com­mu­ni­ca­tion steps tak­en by the sell­er (i.e., mar­ket­ing chan­nels)
  • how the cus­tomer actu­al­ly receives the prod­uct (i.e., dis­tri­b­u­tion chan­nels)
  • inter­ac­tions with the prod­uct itself (i.e., prod­uct mar­ket­ing and UX)

Ask your­self 1. are these steps artic­u­lat­ed? and 2. are there steps that can be improved?

3. Purchase volume grows when…

purchase volume I saw this frame­work illus­trat­ed by well-known VC and blog­ger David Skok and imme­di­ate­ly loved it. There are so many times that this is the men­tal mod­el I need to get back to the essen­tials.

The idea here is that pur­chase vol­ume boils down to, how much greater is the moti­va­tion to pur­chase than the fric­tion in the pur­chase process plus cus­tomer con­cerns about whether the prod­uct will actu­al­ly deliv­er what they need?

Fric­tion. How dif­fi­cult is it to buy from you? Great online com­pa­nies like Ama­zon or brick and mor­tar com­pa­nies like McDon­alds know how to move cus­tomers through the pur­chase process with as lit­tle fric­tion as pos­si­ble.

Con­cerns. Are your buy­ers get­ting the infor­ma­tion they need at the right time and right place? Is some fear hold­ing them back? Are they still unsure that your prod­uct will deliv­er on the brand promise that they real­ly want to be true?

A good exam­ple of address­ing con­cerns is when you have a tes­ti­mo­ni­al right next to the CTA, or reviews next to the Add to Cart but­ton. If the buy­er needs a lit­tle nudge to qui­et their fears, the third-par­ty trust of anoth­er per­son­’s pos­i­tive expe­ri­ence may be just what they need.

Do your sales scripts or auto­mat­ed mes­sages include key infor­ma­tion to address com­mon con­cerns?

Moti­va­tion. This feels more pure­ly mar­ket­ing-relat­ed and less about the process than the oth­er two. I mean isn’t the demand in demand gen all about moti­va­tion, desire, or want?

This is a chance to ask myself if we have prop­er­ly set the hook with our buy­ers. Are they con­vinced that our prod­uct will make their pain go away or deliv­er the promised land of val­ue where they need it the most? Moti­va­tion is at the root of the painkillers vs. vit­a­mins strate­gic ques­tion.

If your strate­gic vision has begun to resem­ble a deer in the head­lights, pull out one of these trusty frame­works and do the thought exer­cise of hold­ing it up against your com­pa­ny. I’m cer­tain this Immod­i­um-for-the-mind will dis­lodge the clogs of your imag­i­na­tion and unleash potent new cre­ative prob­lem-solv­ing pow­ers. You’ll be back to mar­ket­ing nir­vana in no time.

If not, there’s always a new audio­book on Audi­ble.

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@cmo_zen is a blog of micro med­i­ta­tions for mar­ket­ing lead­ers, designed to help them find clar­i­ty and peace in the mar­ket­ing mael­strom.

Published by Chad Jardine

@chadjardine is the CMO @goreact, an edtech company making game film for the classroom. He teaches graduate finance course @uutah and is the coauthor of Pillars of Inflection: Seven Fundamental Strategies for Explosive Company Growth. He accepts a limited number of consulting engagements each year.