How To Increase Web Revenues
Last week we looked at Adsense etal that have proven to be both powerful and effective revenue streams as a compliment to your primary offer. However, most internet businesses still search for methods to increase their total revenues. Indeed most websites are producing far below their potential. There are three main ways you can increase your web revenues.
First, you can choose to increase traffic. The life blood of internet businesses is in traffic, your website visitors. No traffic means no customers which consequently means no sales. The more targeted visitors come to your site the more money you can make. For example, if your site has 10,000 targeted visitors a month at a C.R of 1.8% and you make Ksh 1,000 per sale, then your revenue would stand at Ksh180,000. If you doubled the traffic to 20,000 your income would automatically double without doing anything else. It is no wonder that this is the most preferred means of increasing revenue for most internet businesses.
This involves strategies like Search Engine Optimization (SEO), PPC campaigns, Article submissions and Link exchanges to mention a few.
Secondly you may opt to merchandise. This involves encouraging the already paying customer to spend more money. This technique that is so popular in our local supermarkets also has it uses online. ‘Back-end products’ is a common term used to refer to merchandising on the net. This is whereby once a visitor makes a purchase of your lead product, you overtime introduce them to other similar and/or related product- the back-end products.
For example, you can sell a Fitness e-book and make Ksh 1,000 per sale. Thereafter you can introduce your customers’ mail list to fitness equipment that nets you a profit of Ksh 5,000. Usually if you have gained your customers trust from the first sale, a significant percentage of the customers will make a repeat purchase. This automatically increases your revenue. One can keep recycling the same customer list making money by offering value through merchandising.
This technique is especially useful in introducing high ticket items that customer would otherwise be too cautious to spend on first time.
Thirdly you can increase your CR. For example a site with a C.R of two percent can be redesigned and reworded to increase it C.R to six percent. Such a jump would automatically increase your sales by 300% without merchandising or increasing traffic. Though the most potent of the three strategies it is the least used because of it complicated nature. It involves alot of testing and retesting of different elements of your web pages as well as website structure. However for maximum effect you should use all the three strategies.
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5 Traffic Conversion Hot Buttons
Once you’ve told the product story, how do you get them to push that ‘buy button’ again? Here are some traffic conversion hot buttons to add to your site today:
1) Expose your competition’s warts. You can expect popular products to attract competitors. Study the competition and find the weaknesses or differences that you can exploit. Do you deliver faster or offer discount shipping, give choice of downloads or CDs, gift wrap, ship internationally? Let buyers know what sets you apart from your competitors.
2) Go ahead – name drop! Find a celebrity to endorse your product. Not necessarily a movie star, just people who are known and respected in your niche market. Send your product out to niche superstars and ask for their honest review as well as permission to use the comments on your website. You benefit for the star power of the endorsers and get instant credibility and trust.
3) Prove it! Find research that advances your product in the marketplace. Even a basic study that shows 7 out of 10 people who regularly exercise are less likely to get prickly heat, might be linked loosely to your product. Make the connection reasonable. If there isn’t any research, make your own by using results from an online survey or poll. People want to hear how your product is going to benefit them…ie save time, money, effort etc…Focus on your customers wants and needs.
4) Test yourself. Create three different pitches that play on your main product. Use each page for 10 days. At the end of the month, compare results. The pitch that captures the most buyers isn’t always the one you like the most. Remember, it’s about what clicks with the buyer – even if it isn’t your favorite. Make sure to test and monitor your results to get an accurate measure of their successes.
5) Befriend to win. Make sure that your sales copy creates a connection with your buyer. You can make money with straight sales copy but you’ll make more money when you build a relationship with buyers so you can promote to them over and over.
Let them into your life enough that they care about you and they will be more willing to invest in your products. You can set up a forum to discuss your niche interest or add short reviews from your buyers.
Feature a buyer with a photo and candid interview. When you give buyers reasons to drop by regularly, then you are developing a relationship. Needless to say, your ’special offer’ email gets read when others are sent to the trash folder. Build a relationship and you will reap the benefits of higher profits for the future.
Ron Richardson is an online entrepreneur and consultant.
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12 Top Traffic Conversion Secrets
Well, it is if you pay attention to the details. Here are 12 traffic conversion secrets that even a newcomer to Internet marketing can do:
1) Refine your Unique Selling Proposition (USP). What makes your product different, special, better or more desirable? That’s the USP. Now get the answer to that question down to one or two concise sentences. People want to know how your product will benefit them.
2) Sound friendly, not slick. Your sales copy needs to sound like one friend excited to tell another friend about a great buy. Avoid sounding like a high-pressure infomercial. People buy from those that they know and trust.
3)Ask for help. Give the viewers a reason to interact with you by asking for their opinion on a survey or product rating. You get useful information and keep them thinking about your product longer.
4) Simplify the offering. If you have three different products to sell, use three websites. Don’t make the mistake of trying to offer too much at once. This might work for major retailers, but they already have a brand and a following. The harder you make it for your customers to navigate your site…the quicker they will click away from your site.
5) Leave some open space. Prepare a sales page that’s easy to read with wide margins. You don’t have to fill every inch. Leaving some white space helps the reader to better focus on the copy. Keep the paragraphs short and keep the character count around 60-70 per line.
6) Brag openly. If your product has a good rating or endorsements from satisfy buyers, then let them brag about the product for you. Testimonials are one of the best ways to sell your product or service. It gives you instant credibility and trust.
7) Cast with plenty of bait. In your sales letter and squeeze page, put out the ‘bait’ for your offer over and over. Don’t skimp on bait. Better too many offers than not enough to convert that buyer who is still uncertain. But there again, don’t have so much going on that it confuses people.
Find problems. Even after your sales page is complete, keep thinking about other problems that your product can solve. You might get a hint of new ways to promote your product by asking buyers how they use the product.
9) Use moderate highlighting. Yes, highlights draw visual attention but too many highlights or excessive colors frustrate online readers. Highlight a few words in a statement so that if they only read the highlighted words, they could understand the main point you’re trying to get over.
10) Package deals are popular. After presenting your USP, sweeten the offer with a package including several free items as part of the ‘Buy Now’ deal. Limited time offers create a sense of urgency for the buyer to act. You can also use roller coaster pricing…have the price go up every sale or an allotted time period. This also creates a sense of urgency.
11) Ask for the order. An old principle of sales that must never be ignored – ask for the order, ask again then ask again. You can’t ask too many times. Place an ‘order now’ link or button through out your sales copy.
12) Say ‘Thank you.’ Have a gracious, personal sounding, ‘Thank you’ email with the order confirmation. It never hurts to show good manners and buyer appreciation! You can also offer an ‘unadvertised bonus’ just for paying customers. Make sure it’s full of value and the highest quality, and they will be eager to do business with you again and again.
Find out what keywords relating to your niche market that people are searching for, and you’ll have eager customers ready to buy. High search counts – low competition – means higher profits for you!
Ron Richardson is an online entrepreneur and consultant.
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