Internet Marketing – How to Increase Your Online Income Through Your Conversion Rates, Part 1
As a businessperson who uses Internet marketing to sell your products and services online one thing you need to be knowledgeable about is how to increase your online income through manipulating your conversion rates. By tracking your subscriber and buyer conversions at different price levels for your products and services you can project what your future online sales can be.
How One Change Can Impact Your Entire Business
By creating a subscriber and buyer conversions spreadsheet you can easily see how you can change your business income levels by simply increasing your subscriber rates. In developing a spreadsheet you would make roast for different levels of subscriber levels by numbers per day or month and columns for your different price levels of products.
By making this graphical representation of your sales funnel you can easily see how each individual change in subscriber conversion rates can impact the entire sales funnel. One of the things that is important is that as you make changes, you make them one at a time, and have a method of tracking your conversion rate for each change. If you make more than one change at one time, you will not know why your sales or conversion rate has gone up of down. You may think that there has been no change, but what you do not know is that one change you made increased your revenue by 30%, and another decreased it by 40% – for a net decrease of 10% – you might assume that both of those changes decreased your earnings or a given conversion rate, but that is not true. One change actually increased your conversion rate or revenue, but you aren’t able to see that – and subsequently pass up additional and future profits.
Where do you find the data to calculate conversion rates?
There are a number of different ways to gather data to calculate conversion rates. You can buy web statistics software and use that data for the traffic numbers, and then use opt ins and sales to calculate your conversions.
You can buy traffic software to do the calculations for you. One word of warning about tracking: do NOT use tracking software that requires a ‘tracking link’ – once you do, you will always have to stay with that tracking software or company, or lose your links. If they go out of business or the software goes bad, you will lose all the links you have online.
If you are out to attract prospective customers and develop your online presence and exposure, you owe it to yourself and the financial future of your business to learn everything you can about Internet marketing.
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