You are about to learn a killer strategy that can transform your internet business with the rest of the time in this year.
As the business owners, we all strive to increase our business in EVERY possible ways. When we expand our business, it is easy for us to get clutter with so many opportunities.
In the internet marketing business, we are too constantly overwhelmed by so many methods to create new business.
To name a few, we can use SEO, PPC, articles marketing, video marketing, and podcast to get more visitors. We can sell banner ad, Adsense, CPA, infoproduct, affiliate product, membership, licensing, and joint venture promotion.
When we come down to grow our business revenue, there are only 3 ways.
Geometrical Growth Strategy
You have to pay careful attention here if you have not applied the Geometrical Growth Strategy from Jay Abraham. This is the simplest way I know on how to DOUBLE your internet business in 3 steps.
It is so important that we understand the following truth:
Our annual internet marketing business revenue equals to : the number of customers x the average purchase per each transaction (in dollar) x the average frequency of purchase per year
For example, if my internet marketing business in last year has 1,000 customers to purchase my products. And on average, my customers purchase $137 dollar over the last year on my front-end product, upsell, and downsell in each transaction. And over the numerous promotions I had last year, on average each customer purchase 1.5 times.
My business revenue last year therefore was 1,000 customers x $137 average purchase x 1.5 times. That was a $205,500 annual revenue. If I want to DOUBLE my business revenue this year, I just have to do the following 3 simple steps:
#1: Increase the number of customers by 27%
First thing first, we all know that when we increase the number of customers (not just prospects), we can immediately increase our revenue. That is simple. So how do we increase the number of customers by 27%?
Let us scale it down to increase by a lower number say 10%. And we can easily come up with many ways to accomplish that.
We can increase the number of JV partners (by ourselves or by hiring more JV brokers). We can recruit more affiliates. We can add our products on more affiliate platform like Clickbank, or paydotcom. We can expand our marketing reach into other countries through PPC and other advertising network.
What about increase the sales conversion from the prospect list? There are many ways to increase the number of customers. When we aggregate these efforts together, we can increase the number of customers easily by 27%.
#2: Increase the average size of each transaction by 27%
This one is quite easy. The quickest way is to increase our price. We can test our price point on each of product. If you have not done that, you will be very surprised to see the sales conversion increase when you increase price.
The second thing we can do is to add OTO, upsell and downsell to our front-end product. And we can also test to increase the price of each items attached to the front-end transaction. Third way I would consider is to repackage my existing products so that I add MORE value to them. And I can charge higher price naturally on each purchase. Of course we can also to create a new and more expensive product to sell. That definitely will increase the average transaction size.
#3: Increase the frequency of purchase by 27%
We can do that by increase the frequency of communication with our customers. We educate them more frequently through our email message. We communicate our offer to them more frequently. We can also run more special promotion to encourage more purchase. We can have season special around the year. Make more sound reason to run your promotion. Even some marketers has created a promotion just saying they need the money to buy a car. Your imagination is limitless.
Now let’s come back to the numbers. By increase 27% over the year, the number of my customers would be 1,270 this year. By increase 27, the average purchase is increased to $174.6. And the frequency of purchase is improved to 1.9 times. When we put them together, my business would be more than DOUBLED to $421,309 !!!
So is it possible to double our business this year? Yes!
Well many years ago, U.S. government had to resolve the problem for the astronaut to be able to write in space. The normal ball pen does not function properly in the absence of gravity. So the U.S. government has spent millions on research and finally come up with a new ball pen technology that allows the astronaut to write on a piece of paper in space.
Contrary to the U.S. approach, the Russia used a very interesting approach to solve the writing problem in space. They instructed the astronaut to use pencil to write!
Sometime we make things more complicated than we should when we face a challenge.
Are you making things more complicated than every other internet marketers in your business?
To increase your business income, the simplest way is to build a prospect list so that you can communicate with the readers over and over again. This is one the must know money making technique in internet marketing business.
If you want to do that quickly, there is a unique way to build a list and create your business income perpetually even while you are sleeping. Use this unique list building method to make things simple and increase your income quickly now.