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A 7 Step Program To Generating More Sales - Part One
By Tina ValiediA business needs more sales if it is going to survive and there are four way it can go about this:
1. Increased web site traffic
2. Increasing conversion from hits to sales
3. Repeat selling
4. Increase the price of your products
All four of these methods are practical ways that you can increase your sales and your profits. Even if embark on just one method you can make a difference without working harder or spending more money to do so.
Can you guess which method would be the most useful? We won't give you the answer now... keep reading and see if you can work out which one it is.
Step 1: The 99 That Got Away
Say for instance, you sell a product for $50 per unit and have a goal to achieve $2000 profit this month.
Internet marketing experts and studies say an average site converts 1-2% of their visitors into customers.
1 website visitor out of a possible 100 = 1% conversion. By using promotional campaigns, you pay $30 to obtain those 100 website visitors. So suddenly your $50 sale less $30 marketing costs = a $20 profit.
To achieve your goal of $2000 profit, you need 100 sales. Since 1 out of 100 visitors buys you need 10,000 visitors to your site. That will take a lot of hard work and money to get those visitors.
Look at it from another perspective. what can you do with the 99 visitors that didn't make a purchase?
You already know that you spent $30 to generate 100 visitors. If you were to gain two customers rather than one, then you would generate $100 in sales. $100 - $30 = $70 profits is a 350% increase without you needing to spending any more money or time.
You can meet your monthly profit goal with only 2450 visitors. A lot less than 10,000 with 1% conversion.
So if you haven't already worked it out, the best way to increase sales is #2 - Increased conversion from visits to sales.
But what about the other ways you can use to increase sales?
You need site traffic but if your visitors don't become customers, no sales. Repeat sales is an excellent way to increase sales. But you need a client base for repeat sales. You need to convert visitors to customers. Increasing your price can increase your bottom line but the market will only pay so much for a product. You may be limited on how much you can charge.
Increasing your conversion rate from 1% to 2% and beyond is the optimum way to increase your sales. So how do you go about increasing your conversion rate? In part two of this series, we will show you what to do.
About the Author:
Tina Valiedi is the VP of Marketing and Chief Editor of MP Strategies Firm,a company whose breakthrough service unleashes the power of the internet to drive hidden potential clients to your site. Sign up for the Strategic Traffic Tips eZine at: http://www.mpstrategiesfirm.com