You don’t need more website traffic to boost your bottom line.
You may just need to analyze your current processes in place. You might even get away with not having to optimize every page of your sales funnel or increase your ad spend for Google clicks.
You certainly don’t need to drop your prices (unless you want to be the discount, bargain store of your industry).
Here are a few thoughts on what you can (and should) do if you want a quick surge of green.
Make more money by…
- Increasing your prices. Afraid of charging more? Think of brands like Coach, Mercedes, BMW or even public speakers like Chris Brogan who command well-deserved, high fees for their products and services. They are sought after in spite of high rates; they aren’t racing everyone down to bargain basement pricing.
- Deepening the sales funnel. You can do this by offering one-on-one coaching if you don’t already. Send out emails to your current subscribers letting them know you’re offering a short session (if you normally charge for longer ones) or a live webinar class and gather sign ups.
- Making more offers. How many offers or promotions did you make last week? How about last month? If your online business isn’t making you enough money then sell more and sell often. Content marketing and connecting on social media is useful but if you aren’t selling (and earning a profit) then you’re simply an online marketing hobbyist.
- Bundling and running specials. Discounting your product just waters down your brand. Offer a “gift” to your market by bundling products and services for promotional periods.
- Upsells and one-time-only offers. Somewhere in your sales process there’s a gap. There’s always an area of opportunity. One such area is the web page in your sales process directly following a purchase. Are you offering a one-time-only purchase at the point of sale?
For an upsell example, if you’re selling a text-based product you can offer mp3 recordings as an upgrade.
You can either take the time to create audio versions of your text or create text for audio (or video) and offer the upsell any time during the sales process. You can even offer the upsells via email marketing later on.
Targeting email subscribers
If you approach your marketing from the hard sell or linking to sales pages, you may want to try offering a teaser (if things aren’t working). Try offering a sample or preliminary e-course that will segway into your main product.
Some people won’t be sold on the first or second visit. They need to feel all warm and fuzzy about the offer which drip-fed email reminders help accomplish.
So, try offering a lower barrier of entry to your product by giving more upfront to entice your buyers. Educate them over time as to why you’re the best choice for them and advise them of their next step (to buy from you).
What do you recommend for adding impact to the bottom line? Is your first instinct to have a discount sale and hope buyers come beating down your door?
I value your input so let’s talk this out in the comments…