To grow your income, you need more customers. That in turn means you need more people to sign up for your list. Where do these new subscribers come from? You get them by increasing the traffic to your site. You can greatly boost your bottom line by increasing all three.
Some of the things you want to do and track then are:
Get more traffic
And more importantly, get that traffic from various sources. This should always be a priority and something you work on regularly. Track your growth as you move along and keep an eye out for fresh new ideas to boost your traffic. Make sure that your traffic is coming from a variety of sources so that you aren’t impacted if one source dries up. If all, or most, of your traffic is coming from one source, your traffic completely dies if something happens to that source. Getting more traffic will boost your bottom line because more traffic means more eyes that can become subscribers and customers.
Getting more subscribers
As you start to get more traffic, your list will start to grow, but don’t stop there. Tweak your opt in-forms to increase conversion. Create a new lead magnet to get the attention of a different sub-group of your target audience. Set up a few dedicated opt-in pages and start driving traffic to them. Do what you can to continually grow your list and pick up speed in the process. Getting more subscribers can increase the number of customers which in turn will boost your bottom line.
Just as important as getting new subscribers is keeping them. Make sure you are providing valuable content to your subscribers on a regular basis, and that they know where to find the information they need. Survey your subscribers to determine what they need most from you and then work to provide it both through free content and products.
Turn those subscribers into customers
You want them to spend money with you either by buying your products and services, or through your affiliate links. Offer more products. Raise your prices. Find more attractive offers you can promote as an affiliate. Work on your funnels. There’s a lot you can do to grow your bottom line once you have traffic and subscribers figured out.
The real power of this approach becomes apparent when you start to look at how these three things work in synergy. By getting more and higher quality traffic, while improving your opt-in rates, and creating higher priced products with sales funnels that convert well, you can quickly make a huge difference in your bottom line. Each of these elements alone will help, but by combining them, you will start to see exponential growth which will boost your bottom line..
Let me illustrate this with an example. Let’s say you start out with 100 new visitors per day. 10 percent of them sign up for your mailing list, which comes out to 10 new subscribers each day. One of these people buys one of your products at $10. That means you have increased your bottom line by $10 per day. Now, by doubling your traffic, with nothing else changing, you go from making $10 per day to $20.
Now let’s see what happens if you improve in all three areas. If you can also improve your opt-in forms and get to a 20% conversion, that moves you up to 40 new subscribers each day. You also create a few more products and each of your customers ends up spending 3 times as much as before that increases your income per subscriber to $30.
When we add all that up you go from 100 new visitors per day to 200, from a 10% conversion rate to 20%, and from making $10 per customer to $30, you end up making $120. That’s a pretty big bump from $10 while still only requiring you to double your traffic. That’s an increase of $3,300 per month or over $40,000 per year in sales. Pretty impressive, isn’t it?
Let me know how your bottom line is impacted after implementing some (or all) of these ideas in the comments below or by emailing me at firstname.lastname@example.org. Also let me, and others, know what ways you use to increase your traffic, subscribers, or customers in the comments below so we can all benefit.
Want more ideas on growing your business? Check out these posts:
Think Like a Farmer if You Want to Grow Your Business
You Have to Know Where You’re at to Measure Growth
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