What if I said to you to forget everything you read and that there are actually only five ways to increase your income streams and your profits?
You would probably think I was mad!
After all there are millions of websites selling 101 ways to make money and I sell some of them myself through my PLR. But there are actually only five main ways and if you challenged yourself to increase your profits why not do one of the five each month over the next five months.
Or seriously work on one every 90 days and see how much your profits can increase?
I have in the past done exactly this and over the last 90 days used one of the tactics to add another $1000 a month to a $27 ebook package without much work.
But let’s go back a minute while I explain to you these five options:
- Get MORE traffic to your sales pages
- Increase the profit at the point of sale
- Make more sales
- Sell more products to your existing customers
- Cut your outgoings
And the reason why it sounds simple is because it actually is. And you can do it straight away if you wanted to. However you look at it just one of those changes will have you bringing in more money.
And this is how I did it….
1. Getting more traffic to my sales pages
I have spent the last couple of months testing out some new advertising and working harder on my SEO and social media. This has then led to me doubling my traffic to one of my $27 sales pages. And its all down to numbers.
I was getting 1000 visitors a month to this old $27 ebook package a month and it was converting at 8% which meant I was getting 80 sales a month that brought in a monthly income of $2160.
However I doubled it over the summer and my 2000 visitors have also converted at 8% giving me an extra $2160 income and doubling this aged income stream.
And lets face it your 9-5 employment will not double your wages will they?
2. Increase the traffic at the point of sale
This is an extremely simple method and added another $1000 to my income in August and it took less than five minutes to do.
I basically offered lifetime updates to an ebook collection so they had the option to pay either $9 for the package or $37 including the upsell.
You can actually do this with a range of products such as offering a video series with an ebook or offering PLR upgrades to a general ebook purchase.
If you think outside the box I am sure you can think of many ways to implement this.
3. Make more sales
What if you could tweak a sales page that you already have? What if an 8% converting sales page became a 10%? If you used this with point #1 then you could turn your current income stream of $2160 into an income stream of $2700. Making you an extra $540 from making a few small changes to your website.
This can be just moving the payment button or adding some extra graphics or reducing the size of your sales letter.
It’s a case of testing your conversions to see how they can be improved.
4. Sell more products to your existing customers
This may seem obvious but do you have upsells in place? Are you selling products to your customers that they will want to buy that are similar? Instead of just offering them the one product why can’t you not offer them more?
It works brilliantly and its just a case of making sure it flows so that the customer enjoys the shopping experience.
5. Cut your outgoings
In the current recession we are always told to cut our gym membership if we don’t use it and it’s just an unused wasted recurring cost. But what about in the internet marketing industry?
I have gone ahead and cut a huge portion of my outgoings and have the things that I need not things that I want.
Away from my Aweber and my Hostgator fees my recurring outgoings are less than $200 a month. I have no silly software that I don’t need and I don’t have contractors that I don’t need. I run my business with an excellent manager, a handful of virtual assistants and 3 regular and 1 casual writers.
That’s all I need and it works very well. So look at your costs and see where you are wasting money.
I have never chased large amounts of traffic to my site was I have always done is to make sure I am milking the cash cow as much as I can for the visitors I get. Instead of just selling one product I will upsell two and then you are spending less money on traffic but making more money.