For staffing firms, as in many industries, revenue is subject to often unpredictable economic changes. Your firm is pressed to find creative ways to drive revenue and keep costs down.
Here are a few proven tactics you can try.
Recruit at a higher level. Focus your direct hire efforts on those who garner the highest wages, but think long-term, too. Will your hires be great long-term fits?
Encourage referrals. Referred business is the cheapest revenue you’ll ever see. It costs you zero in marketing and often produces better results. Offer incentives to employees or ask happy clients to recommend you to a colleague.
Show off your expertise. Use a variety of platforms to establish yourself as a thought leader in your particular specialty. Book speaking engagements or write blogs, articles or books. Share and engage on social media.
Eliminate unnecessary expense. Take a hard look at your costs. Are efforts being duplicated? Are you using tactics that no longer work? Be ruthless in getting rid of processes or practices that drain profits.
Focus on revenue. When exploring new ideas, look for those with the biggest upside. Spend the bulk of your time on revenue-driving activities, not busywork.
Leverage inbound marketing. A robust content program brings people to your door (or at least your website). Ideally people will come to your site for advice and best practices. Make it easy to find!
Sell into existing customers. It’s more cost-effective to keep customers than attract new ones. Look to increase engagement within the account by gaining business from different departments. If you are providing temporary help, pitch direct placement and vice versa.
Automate your back office. Don’t waste time on activities that don’t generate revenue. Take the time to implement a back office system that will reduce the time you spend on administrative tasks on a daily basis.
Seek funding to fuel growth. Don’t be handcuffed by a lack of available funds. By working with a funding partner you can grow your firm whenever the opportunity arises, not just when you have money in the bank.
Eliminate the duds. Take a look at your client base. Fire those who are more trouble than they’re worth – and feel free your time to focus on your more profitable prospects.
At Avionté, we provide solutions for staffing firms that help you to increase revenues and keep costs down. Our comprehensive staffing software delivers integrated software systems that make it easier to drive growth, maximize profitability and streamline your administrative tasks, so that you can focus on your serving your customers. To learn more about the many advantages of Avionté staffing software, contact us today.
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