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How To Increase Web Revenues

Jun 27, 2008
Last week we looked at Adsense etal that have proven to be both powerful and effective revenue streams as a compliment to your primary offer. However, most internet businesses still search for methods to increase their total revenues. Indeed most websites are producing far below their potential. There are three main ways you can increase your web revenues.

First, you can choose to increase traffic. The life blood of internet businesses is in traffic, your website visitors. No traffic means no customers which consequently means no sales. The more targeted visitors come to your site the more money you can make. For example, if your site has 10,000 targeted visitors a month at a C.R of 1.8% and you make Ksh 1,000 per sale, then your revenue would stand at Ksh180,000. If you doubled the traffic to 20,000 your income would automatically double without doing anything else. It is no wonder that this is the most preferred means of increasing revenue for most internet businesses.

This involves strategies like Search Engine Optimization (SEO), PPC campaigns, Article submissions and Link exchanges to mention a few.

Secondly you may opt to merchandise. This involves encouraging the already paying customer to spend more money. This technique that is so popular in our local supermarkets also has it uses online. 'Back-end products' is a common term used to refer to merchandising on the net. This is whereby once a visitor makes a purchase of your lead product, you overtime introduce them to other similar and/or related product- the back-end products.

For example, you can sell a Fitness e-book and make Ksh 1,000 per sale. Thereafter you can introduce your customers' mail list to fitness equipment that nets you a profit of Ksh 5,000. Usually if you have gained your customers trust from the first sale, a significant percentage of the customers will make a repeat purchase. This automatically increases your revenue. One can keep recycling the same customer list making money by offering value through merchandising.

This technique is especially useful in introducing high ticket items that customer would otherwise be too cautious to spend on first time.

Thirdly you can increase your CR. For example a site with a C.R of two percent can be redesigned and reworded to increase it C.R to six percent. Such a jump would automatically increase your sales by 300% without merchandising or increasing traffic. Though the most potent of the three strategies it is the least used because of it complicated nature. It involves alot of testing and retesting of different elements of your web pages as well as website structure. However for maximum effect you should use all the three strategies.
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