Now more than ever anyone can start and grow an online business from the comfort of their home offering services and/or products.
There are endless resources, tools and platforms to get anyone with minimal business, sales and marketing skills started in a matter of minutes.
Getting started is easy, but building a profitable business that is scalable is a totally different story.
Over 97% of people who start an online business from home are barely making any profits.
Here are 5 Key elements that can have a huge impact on your work from home online business success:
Traffic is a stream of qualified prospects. If you can’t get your products or services in front of people who want to buy, you’ll never have any sales and profits.
What type of traffic you will need and how much you can afford to pay for that traffic will affect your sales volumes and ultimately bottom line. Having clarity on how much you can afford to pay for that traffic and finding solutions to increase that amount will determine if you are a top earner or barely getting by.
An Internet Funnel is a marketing strategy whereby you are constantly funneling new leads (your traffic) into your business, in the hopes of getting their email contact information, developing a relationship with them and ultimately getting multiple and repeat sales from them over time.
A marketing funnel is often seen as an upside down pyramid. At the top, you lead potential clients to your websites, optin pages, or sales pages, in the middle you offer them valuable tips, content and services if they sign up to your email list. As they go through the funnel and get more access to your valuable resources, they get to know you more, trust you and take action on your recommendations by making a sale.
Highly converting funnels are well thought out with the end user in mind, offer a series of progressive solutions and are systemized and automated with email automation tools like Aweber and funnel creation tools like ClickFunnels.
Most leads are overwhelmed by the amount of options they have on the market. To increase the probably of a sale, you will need to filter your offers down to cater to what your leads are really looking for.
For example are they looking for low cost, high quality or are they looking for fast solutions? Find out what they need by using surveys and evaluation forms, show them more of what they are looking for and help them make a purchase decision.
Once a sale takes place you need to follow-up with your clients. The follow up process is critical first to ensure that they are happy with their purchase and second so you can offer them more tailored solutions that will address their needs.
Phone follow-ups are much more effective than email follow-ups. Make it a habit to get your customer phone numbers so you or someone on your team can call them up and follow up… find out what else they need and offer them more solutions.
Tiered Product Mix
There are two ways to increase your revenue. 1. Increase your sales volume 2. Increase your offer selection and prices.
Most business struggle because they focus on increasing their sales volume of low ticket offers.
For example they might be selling a tee-shirt at $25 and get stuck in the vicious cycle of looking for more customers that want a $25 tee-shirt not realizing that the person who bought a tee-shirt already from them might also be looking for other items like a $100 pair of jeans, $500 winter coat, a $2,000 bicycle or even a $5,000 cycling trip in Chile!
Top internet marketers and online business owners make their profits by selling high-ticket offers to repeat clients that keep coming back for more. The more money they make, the more money they have to invest back in traffic and scale their businesses more and more.
If you’ve found these tips to be helpful at starting or growing your own internet marketing business, then stay tuned for more weekly training videos like this one.
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