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5 Ways To Increase Your Website Profit Without Increasing Traffic
To succeed in Internet marketing, you need to learn how to maximize the value of your website visitors. Here are the top 5 strategies on how to squeeze the most profit out of your website:
1. Tweak Your Sales Copy
The most sure-fire way to increase your profits is to tweak your sales copy to increase the conversion ratio of your website. Conversion ratio is how many visitors you need on average in order to make a sale.
Look at your website statistics for the last month – how many unique visitors did you have? Now look at your sales report – how many sales did you make? Based on these numbers, how many visitors do you need to make a sale?
Let’s say you are currently selling to 1 out of 200 visitors. If you tweak your sales copy so it starts selling to 1 out of 100 visitors, you will double your sales – without having to increase your traffic!
2. Tweak Your Prices
Most commonly you will make more money if you increase your prices. Lowering prices can result in more sales, but lower total profits – the number of additional customers is often not enough to cover the price drop.
If you slightly increase your prices, most of the time you will not lose many customers and will end up with more money in your pocket.
Experiment with both increasing and decreasing your prices to find your most profitable price point.
3. Capture Visitor E-Mails
If you don’t get your visitors e-mail addresses, you lose those visitors forever once they leave your website. You will not get a chance to convince them to buy at a later time.
When you get their e-mails, you can constantly follow-up by e-mail and get many more chances to sell. If you don’t have a mailing list on your website, you are leaving a lot of money on the table.
If someone clicks on a “Buy” button for one of your products, offer them a choice of “deluxe” version of this product at a higher price. This technique is called “Upsell”. The prospect is already excited about the product, and is very likely to go for a beefed-up version of this product.
Just ask if they want a deluxe version, and offer a choice of “Yes” or “No, I just want standard”. You have nothing to lose. If they choose to upgrade, you get more money just for asking. If they go for the standard version, that’s what they would’ve gotten in the first place – you still don’t lose anything.
5. Backend Sales
Those who already bought something from you are very likely to buy from you again (providing that your product met their expectations). It’s much easier to sell something to existing customers than to a cold prospect. Sales that come from marketing to existing customers are called “backend sales”.
Keep in touch with your customers by e-mail, and promote your other products that might interest them. If you don’t have additional products, become a reseller for other companies that sell relevant products, and make commission on those sales.
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