3 Key Pillars of Highly Profitable Websites.
When it comes to optimising your website for conversions most optimisers will focus on getting more sign ups or more conversions on your sales page.
However this is not the easiest way to increase your conversions and profits.
When business’s start to look at conversions it is usually because what they actually want is more profit. Often the conversion process is a means to an end to achieve this increase in profits.
There are actually only 3 ways of achieving this increase, and they are…
1. Increase amount of potential customers (traffic) to your website.
2. Increase the average order amount of each customer (increase the amount of stuff in their shopping cart)
3. Increase the frequency of purchase (how often they return to your site and buy)
Most business’s in my experience (including myself before I knew better) focus on the first one “getting more traffic to the website or customers through the door”
You can increase this one significantly by focussing on converting more of these potential customers into paying customers. Although depending on your business there is still lower hanging fruit that should be picked first!
Optimising number 2 “average order amount” will give you growth in spend per customer. You can do this by offering customers other items that compliment the initial purchase or an enhanced version this is something Amazon is extremely good at!
Also not an online example per say but Mcdonalds added $1bn to their world wide sales by asking customers “do you want fries with that” How can you bump your average order amount?
There is still a faster way of adding to the bottom line than optimising this part of the process.
By far the easiest way to increase profits and sales is to focus on optimising number 3 “frequency of purchase” or “the back end” do you currently follow up with your previous customers regularly and efficiently?
Research has shown that it is something like 8 times cheaper to sell to an existing customer than find a new one. On the basis that they already Know Like and Trust you.
Sometimes all you need to do is remind them you are still there, but you could offer them exclusive benefits and offers.
Another savvy way of growing your business from the back end is to introduce a referral program. This would work along the lines of offering your customers an incentive (maybe amazon vouchers) if they refer a friend who then buys from you once you have this referral program set up and running as part of your email marketing on auto pilot you will have new customers flooding into your business.
And because they have been recommended by a friend and someone that is already a happy customer of yours they will already be pre-sold so conversion rates will be through the roof.
I hope you have found this article useful if you want to speak to me about implementing this in your business contact me here.