Throughout this series, we’ve been talking about the secret to business success and measuring your growth. Now to the good stuff!
To grow you income, you need more clients. 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.To grow you income, you need more clients. #eventpreneur Click To Tweet
Some of the things to focus on and track are:
- Getting more traffic from varied 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.
- The next focus should be 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.
- The third piece of the puzzle and where things get interesting is turning those subscribers into clients. You want the subscribers to spend money with you either by buying your products and/or services, or through your affiliate links. There’s a lot you can do to grow your bottom line once you have traffic and subscribers figured out. Consider offering more products. Raise your rates. Find complimentary event services and/or products to offer to your subscribers. Finally, work on your funnels to ensure they are optimized.
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 prices 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.
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.
Now let’s see you double your traffic. With nothing else changing, you go from making $10 per day to $20. But what if you can also improve your opt-in forms and get to a 20% conversion? You also create a few more products and each of your customers ends up spending 3 times as much as before. When we add all that up you go from making $10 per day to 40 new subscribers each day which means 4 new customers. If each of them spends $30 shopping around in your shop, you end up making $120. That’s a pretty big bump from $10 while still only requiring you to double your traffic. Pretty impressive, isn’t it?
Your turn! What will you focus on?