revenue
Whenever an ecommerce team wants to spark intentional, targeted revenue growth, they must choose between two distinct paths: broadening their target audience or deepening their investment in their current customers. Each of these has its pros and cons, and often circumstantial factors can help a team decide which one to pursue. If your company is debating between investing in breadth versus depth with your ecommerce brand, here are a few thoughts to help guide your decision. Focusing on a nicheThe first way to grow your ecommerce revenue streams is by doubling down on what you already do well....
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You didn’t start your company to lose money. However, you don’t want to just break even, either. Ideally, you want the healthiest possible profit margin. And that one way to do that is by growing your revenue streams. As a refresher, revenue is the cash coming into the business. Typically indicated at the top of your organization’s income statement, revenue is highly variable. Some years it might be up, some years it might be down. Ideally, you want your revenue to be as strong as possible to offset variable expenses. Of course, boosting your revenue usually doesn’t happen without a little tin...
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