Increase Website Revenue
By make money
The 3 Key To Increase Your Website Revenue:
1) Increase traffic
2) Increase the price of product and add upsells and backend product in books.
3) Increase the conversion rate so your get more money with the same costs.
How to measure and calculate your conversion rate for your website or product.
Your conversion rate = total actions to sale / unique visitors x 100
Pretty simple stuff. How long or how many actions to sale should you go for before you start running your calculations? Its totally up to you but I like to do it at 100 actions to sale. Keep in mind though that you want to only use unique visitors in your calculations of your conversion rate because hits can come from and and everywhere.
What should you use to gather your information and then figure it out? Well there are lots of ways but awstats comes with most hosting packages and will get you started off quick and easy. If you run an adwords campaign then Google analytics works great but has some lag time.
For instance, I looked at my stats for one of my products that was bringing in most of my website revenue (it hurt). I obviously wanted to increase my revenue so I started crunching the numbers.
10 sales for August and 2600 unique visitors. At this point things are not looking so good.
16 sales for June and 4905 unique visitors. Making up a total of 26 sales / 7505 unique visitors = .34% conversion rate. OUCH! The product sells for $35.95 x 26 sales = $934.7 in website revenue from that product.
I knew that a products sales page should be bringing in a 2-4% conversion rate and my conversion rate was looking REAL BAD. I wouldn’t have known this if I hadn’t run the numbers.
A conversion rate of a measly 1% would net me 75 sales with the same visitors, times the product cost of $35.95 would give me $2696.25. A small increase in conversion rates would bring a big increase in website revenue.
If I could spend $1000 plus to get a great copywriter to get me to a 1% conversion rate it would be worth it in the increased revenue that would happen month after month for this one time cost.
That covers the conversion rate for increasing your website revenue but what about traffic? Well the only way to get more traffic is to buy it or spend time creating it. Everyone knows how to buy it; its adwords, text links, ezine ads and so on.
Creating it is SEO, article submissions and Joint Ventures. It’s a simple action plan but hardly anyone takes the time to put it into action. Soooo, very few people make a lot of money.
Increasing your website revenue by adding upsells and backend products is something very few people do until they get farther into the game. At that point, they slap themselves in the head because of all the money they lost.
If someone has bought something from you, they will probably buy something else if your original product lived up to its promise. The least you can do is link to your other products in the original and make sure you have a follow up responder that will stay in contact after the original sale.
[tags]increase website revenue, internet income, money online, increase conversion rate[/tags]
Ray Burton is a personal training business owner, online writer and growing net entrepreneur. He is also the author of the controversial workout e-book, The Fat 2 Fit Program which is also part of his passive income sources along with the membership site FitterFast.com.
Attention webmasters, ezine publishers, bloggers and forum owners: This article may be reprinted online or offline, provided the biography and website link information is included. (Click for affiliate/business opportunity)
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