Chances are you didn’t start your business just so you can call yourself a “business owner” at dinner parties. You started it to make money. And that’s why growing your business is a top priority.
Here are three ways to do it…
Growth Key #1: Get More Customers
Here’s the first growth strategy many marketers reach for when they need more customers and sales.
There are two parts to this strategy: Traffic and Conversions.
Specifically…
Part 1: Get More Targeted Traffic.
Use a wide range of traffic generation methods including:
- Social media marketing
- Joint venture marketing
- Recruit affiliates
- Search engine optimization
- Blogging
- Guest blogging
- Email marketing
- Media buys
- Viral marketing
- Facebook advertising
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Recommended Resources:
- Going Viral – Click Here
- Paid Traffic Manual – Click Here
- Free Traffic Mastermind – Click Here
- Social Warfare Plugin – Click Here
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Part 2: Convert Traffic Into Customers.
This is where you test and track your sales pages to improve your conversion rate.
For example, let’s suppose your sales page converts at 1% on a $100 product. That means you get one sale ($100) for every 100 visitors.
Test, track and tweak to double your conversion rate to 2%, and now you’re making $200 for the exact same amount of traffic.
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Recommended Resources:
- Click Meter – Click Here
- Order Boosters – Click Here
- Content Retargeter – Click Here
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Growth Key #2: Increase Average Order Value
Once you have traffic and conversions squared away, then focus on getting customers to spend more money when they’re placing an order.
Here’s how:
1. Offer a cross-sell. This is where you recommend that your customer purchase a related product.
“Do you want fries with that?” is the classic cross-sell example for a hamburger.
You might offer a related app, video, report or other product that enhances the customer’s use or enjoyment of the main product. An example is recommending a low-calorie cookbook to go with a diet program.
2. Offer an upsell. This is where you recommend your customer purchase the “premium” version of the product or service.
“Would you like to upgrade to the large drink and fries?” is the classic upsell example for a value meal at a fast food restaurant.
You might offer the “gold” version of a membership site, or perhaps you’d offer the text transcripts to those who purchase a video from you.
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Recommended Resources:
- Set & Forget Profits – Click Here
- Order Boosters – Click Here
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Growth Key #3: Create Repeat Buyers
The idea here is to turn your existing customers into repeat buyers.
Here are two ways to do this:
1. Build a customer mailing list. This is one of the best ways to follow up with customers and persuade them to purchase additional products and services from you.
Pro tip: Give new customers a discount coupon that expires within a week after their first order.
2. Put links in your products. If you sell apps, books, videos and other information products or digital products, be sure to include a link to your related offers. You can even promote affiliate offers if you’re still building your own product suite.
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Recommended Resources:
- Inbox Economics – Click Here
- Thrive Leads – Click Here
- ConvertKit – Click Here
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Use All Three: Those three growth strategies work when used alone, but they’ll work even better when you use them together. But don’t take our word for it: put them to work for you and watch your traffic, sales and revenue grow!