3 Key Ways To Increase Your Internet Business Income - part 2 of a 2 part series

By craig | August 20, 2007

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Don’t make your Internet Business more difficult than it is. There are only a few solid ways to increase your income and make more money online.

There are really 3 key ways to grow your Internet business income.

Increase your “Market Reach”
Increase your “Lead Conversions”
Increase your “Sales or Number Of Transactions”

Let’s take a look at each key separately so I can explain the value of each one in more detail.

Key #1 - “Market Reach”

The first key to making more money with your Internet Business is to increase your market reach. In other words, you need to acquire more exposure from your target audience. You need to be in front of as many potential customers as you possibly can.

Somewhere in .com outer-space are all the customers you could ever dream of who would ever take a liking to your products or services.

There are a certain number or maximum amount of customers that have the potential of possibly doing business with you.

Your success relies on your ability to find as many of them as you can. You want your marketing efforts to reach as many of those potential customers as you can get your hands on.

We can put this into a simple formula as follows…

Website Traffic + Subscriber List = Market Reach

Successfully growing your Internet business is based upon how much pre-targeted traffic you can drive to your site and how many subscribers you have on your list.

Example:

If all things being equal, 5,000 Website visitors will produce more profits for you than 500 Website visitors, and 5,000 opt-in subscribers will produce more profits for you than 500 opt-in subscribers.

note: if you’re looking to drive a substantial amount of pre-targeted traffic to your site, I highly recommend Article Pro Software. It is listed on the sidebar to the right under “recommended products” or you can visit it at: http://www.articleprosoftware.com

So, how are we going to increase our Website traffic and build-up our subscriber base?

You need to develop a system for each day of the week, every single week. I understand that everyone’s amount of time they may have to invest in their Internet business varies. Some of you can only spend a few hours a night working on developing your business while others can spend the whole day. You need to create a system that works for you and repeat it over and over again. Work it, tweak it, improve it, and repeat the process. This is the single most important thing to grow your business.

Let me share with you a few things you can do on a regular schedule to drive more traffic and build subscribers.

Write and submit articles
Re-write same articles and load to your website
Write ezine ads
Post to forums
Exchange links
Work on your own affiliate program
Work on PPC campaign

These are only a few. There are many ways you can build-up your subscriber base and generate traffic. You need to get a system in place, and establish a weekly routine.

Key #2 - Lead Conversion

The second key to increasing your business income is to increase your “lead conversion.” You need more of your subscribers and visitors to spend money with you. No rocket science here, but the more subscribers and visitors who buy from you, the more money you make.

note: if you have say 1000 visitors to your site and 3% of them buy something from you at a profit of $20, then you just made $600 profit.

now, without any additional traffic, if the number of visitors who bought your product increased to 4%, then you just made a profit of $800. $200 more without adding any more traffic.

Increasing your traffic and your subscriber lists alone will not be the primary result in generating more profits.

You must create a business system that will convert more lookers into buyers. You want to develop a large number of visitors and subscribers, but you want them to spend, and spend more.

So what do we do?

Let’s take a quick look at some things you can do to convert more of your subscribers and visitors into credit card wielding maniac’s!

add messages to your email follow-up sequences
create up-sells, down-sells, or cross-sells
use exit strategies
use surveys
create more and better landing pages
- target a specific audience
- special offers for buyers of a certain product
- use specific “hot buttons” e.g ”Only $20″, “Limited Time”, “Only 10 Remaining”
modify your sales pages to make them better
- test a different headline
- test different pricing
- test a different layout
- test a different payment structure
create more free content to give away
- ebooks
- articles
- mini-course
add audio or video messages to your Website

This is just a small sampling, but try and implement a few things on a regular basis to steadily grow your Internet business.

This is one of the most important things you can do increase “Lead Conversions” with the same amount of customers.

Key #3 - Increase Your Sales

The third key to making more money with your Internet Business is to “increase your sales.” You’re working hard to find customers so you need to capitalize on them. You don’t just want to make one sale and part ways. You need to implement strategies in order to make multiple sales.

Remember, it takes much less effort to get an existing customer to buy something more from you then it does trying to round up more customers.

As you begin to saturate your market, it will be much more difficult finding new customers to buy from you. You will need to have multiple sales strategies in place to increase your profits from the customers you have.

Here are a couple of ways to earn more from your existing customers…

Multiple offers - make more multiple offers over your customers lifetime. This usually works very well if you graduate your customers into higher priced items. If they initially buy a $20 ebook from you, try selling them a$50 dvd or cd program. After that, up-sell them into a $250 full blown course. From there, you could work them into a 2 to 3 day workshop course for $500, and then maybe a $1000 membership plan that includes personalized coaching.
Residual Offers - this is where an existing customer pays you for the same offer over and over again. Residual offers are usually service-based type of offers. Some online examples include auto-responders, hosting, private membership sites, newsletters, email consulting, ect. Your customer pays a monthly fee for the same service month after month.

If you want to “Increase Your Internet Business Income” and, ultimately, your profits, then these three keys are what you need to do. That is how you grow your business.

I’ve covered the three keys you need to do, and even provided you some ideas for each of those keys. But, let’s get real, there is a lot more to it than that which just can’t be covered in a short post like this. There are many little details, actions, and shortcuts that are involved which you need to develop.

Yes, you can try and figure it out by yourself, but why don’t you spare the costly mistakes. A better suggestion would be to keep reading my posts and learn from my successes and failures. I hope to publish a mini-course one day soon that will provide more detailed instruction for you to benefit from.

Thanks for reading! If you know someone who could benefit from this, feel free to forward it to him or her!

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Until next time!

-Craig

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