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Case Upon - You Don't Need More Traffic to Make More Money
There are two major ways to estimate the lengths (i.e., durations) of tasks. The simplest way is to estimate the elapsed time of a task.If someone says it will take him a week to do a particular task, he is probably offering an elapsed-time estimate. They generally mean that it will take him one work week to get a task done, not that it will take them 40 hours. When estimating elapsed time, people generally account for not working on the project tasks full-time, and for working on other, higher-priority tasks first.In most projects, however, lengths should be estimated based on the amount of work, not the amount of time. That way, adding resources will shorten a task, and using resources only part-time will lengthen a task. Tasks that fluctuate like this depending on the resources assigned are called resource–constrained tasks.There are several ways
There are only three ways to sell more. Do more right. Do less wrong. Or, do both. Every sales super star knows that there are many skills and attitudes that contribute to their success, but there are twelve critical attributes that the sales super stars have integrated into their overall sales strategy. The following are in no particular order, but if you want long-term consistent success you will embrace and incorporate each of them into your routine sales attitudes and behaviors.1. Make a sale, you’ll make a living. Sell a relationship and you can make a fortune.Poor salespeople focus on just closing the sale. Successful salespeople focus on closing the sale and the relationship. Which is your approach?Selling is not about only closing the current prospect on a particular product or service that solves one of their pressing problems, need
What is a conversion?
A conversion happens whenever a visitor to your site performs a desired action. It might be purchasing a product, signing up for a newsletter, signing up for an account, or even clicking on an advertisement (although I'd advise against making the goal of your site to have someone click away from it). One way or another, if you have a site, you've got a desired action that you want the user to perform.
How big of a difference can it make?
Consider Company A and Company B. Both sell online subscriptions to their news services for a one-time fee of $100. They each attract 1000 unique visitors per day. Company A converts 2% of their visitors whereas Company B converts 5%. Big deal right? How much does 3% really matter? Well, Company A sells 20 subscriptions per day, or 7,300 per year for $730,000 of revenue. Not bad. But Company B sells 50 subscriptions per day, or 18,250 per year for $1,825,000 of revenue!
Without any variation in traffic, you can improve conversion rate on your site and drastically increase revenue. Now, is increasing from 2% to 5% going be a challenge? Certainly, but it is by no means impossible and in most cases is probably easier than you think.
What's a good conversion rate?
Some people will tell you that an “average” conversion rate is 2%-5% and an “amazing” conversion rate is 10%-15%. To me, that's a broad statement. I'm not saying that you should completely ignore those numbers, just that you should understand where they are coming from. Those numbers tend to apply to e-commerce sites selling to consumers. They also don't factor in where traffic is coming from, product pricing, and about a hundred other potential factors that coul
We constantly receive phone calls from clients, prospective clients and reporters asking the same question – what percent of the keyword price does Google pay AdSense publishers. While the AdSense Standard Terms and Conditions explicitly forbid disclosing such information, the range we often give is 20% to 50% based on numerous conversations we have had with AdSense publishers.While the precise percentage is not clear, what is evident is that the percentage that Google pays publishers has gone down significantly since April 2004. It was at this time that Google announced it would be lowering the price of ads (i.e., charging AdWords clients less) that appear on the sites of AdSense publishers. Susan Wojcicki, Director of Product Management for Google, stated that this change came from requests of advertisers who wanted different pricing on clicks from search and co
What is a conversion?
A conversion happens whenever a visitor to your site performs a desired action. It might be purchasing a product, signing up for a newsletter, signing up for an account, or even clicking on an advertisement (although I'd advise against making the goal of your site to have someone click away from it). One way or another, if you have a site, you've got a desired action that you want the user to perform.
How big of a difference can it make?
Consider Company A and Company B. Both sell online subscriptions to their news services for a one-time fee of $100. They each attract 1000 unique visitors per day. Company A converts 2% of their visitors whereas Company B converts 5%. Big deal right? How much does 3% really matter? Well, Company A sells 20 subscriptions per day, or 7,300 per year for $730,000 of revenue. Not bad. But Company B sells 50 subscriptions per day, or 18,250 per year for $1,825,000 of revenue!
Without any variation in traffic, you can improve conversion rate on your site and drastically increase revenue. Now, is increasing from 2% to 5% going be a challenge? Certainly, but it is by no means impossible and in most cases is probably easier than you think.
What's a good conversion rate?
Some people will tell you that an “average” conversion rate is 2%-5% and an “amazing” conversion rate is 10%-15%. To me, that's a broad statement. I'm not saying that you should completely ignore those numbers, just that you should understand where they are coming from. Those numbers tend to apply to e-commerce sites selling to consumers. They also don't factor in where traffic is coming from, product pricing, and about a hundred other potential factors that cou
Tip 1: Discover your "Why". Before you even sit down at your computer and hack away at a plan and mockup, you need to first figure out WHY you want to have an online business. Your "WHY" is unique to you and should be as specific as possible. Saying something like, "To make more money," is not a strong enough "Why". Your "Why" should take an emotional stronghold on you and really make you want to go the distance that's required to succeed in your online business. "I want to be debt free by December 31st" is a stronger "Why" and sets a specific date much like a goal. "I don't want to ever worry about being fired again," is another example of a specific "Why".Tip 2: Make a place in your home to work. Along that line, let people in your family know that when you're in your place of business that you are "at work". This is part of tak
How big of a difference can it make?
Consider Company A and Company B. Both sell online subscriptions to their news services for a one-time fee of $100. They each attract 1000 unique visitors per day. Company A converts 2% of their visitors whereas Company B converts 5%. Big deal right? How much does 3% really matter? Well, Company A sells 20 subscriptions per day, or 7,300 per year for $730,000 of revenue. Not bad. But Company B sells 50 subscriptions per day, or 18,250 per year for $1,825,000 of revenue!
Without any variation in traffic, you can improve conversion rate on your site and drastically increase revenue. Now, is increasing from 2% to 5% going be a challenge? Certainly, but it is by no means impossible and in most cases is probably easier than you think.
What's a good conversion rate?
Some people will tell you that an “average” conversion rate is 2%-5% and an “amazing” conversion rate is 10%-15%. To me, that's a broad statement. I'm not saying that you should completely ignore those numbers, just that you should understand where they are coming from. Those numbers tend to apply to e-commerce sites selling to consumers. They also don't factor in where traffic is coming from, product pricing, and about a hundred other potential factors that cou
I had an interesting experience last week…if you have spoken to me in the past few weeks, you’ll know that I’ve sounded like I’ve had a permanent case of laryngitis. What I actually had was a cyst on my throat. It’s like a big blister and the only way to get rid of it was to cut it out. So if I wanted to speak clearly again, I had no choice than to go ahead and have microsurgery. Notice I said micro, sounds much better than surgery or operation.In fact, the whole process was (thank goodness) totally painless, even afterwards. All I had to do was rest my voice and not speak for 48 hours! I’ll also be undertaking voice lessons to ensure I protect this valuable instrument.Now to the men reading this, avoiding opening your mouth for that period of time would probably not bother you. However, for a female it is a very hard thing to do. We like to talk in case yo
Without any variation in traffic, you can improve conversion rate on your site and drastically increase revenue. Now, is increasing from 2% to 5% going be a challenge? Certainly, but it is by no means impossible and in most cases is probably easier than you think.
What's a good conversion rate?
Some people will tell you that an “average” conversion rate is 2%-5% and an “amazing” conversion rate is 10%-15%. To me, that's a broad statement. I'm not saying that you should completely ignore those numbers, just that you should understand where they are coming from. Those numbers tend to apply to e-commerce sites selling to consumers. They also don't factor in where traffic is coming from, product pricing, and about a hundred other potential factors that cou
1/ Write a Business PlanThe first thing that you should do when starting off on your own – is to write a business plan – this should set out the way in which you intend to operate your business, your financial forecast and your plans for success. Get your plan checked out by your local business advisor or Chamber of commerce – following a well thought out business plan will help you avoid pitfalls.2/ Get yourself an accountant or financial adviserHaving the right financial support is vital – running a business is a difficult at the best of times and trying to get a handle on complex financial issues and mandatory business returns is nigh on impossible without the right people behind you – Don’t try and do all of this yourself.3/ Organize yourselfSounds simple but generally when your starting a business you’ll be all things to all men f
There are times when a 2% conversion rate is phenomenal. For example, if you are selling software licenses for $20,000, converting 1 in 50 visitors is pretty exemplary. On the flip side, if your goal is to have people sign up for a football newsletter and all of your traffic is coming from an ad you placed on NFL.com, 15% might be considered really poor.
My answer to “what's a good conversion rate” is any conversion rate that's better than your current one.
Start by doing a self-evaluation and set a baseline
Before you can even think about trying to increase your conversion rate, you need to have a system in place to track your current conversions. In its simplest form, conversion rate can be calculated by dividing the number of conversions into the number of visitors to your site for a specified time period. Most site owners will want more in depth statistics (such as what page visitors came from and what pages potential customers left their site from) so I would recommend a web analytics program like the free Google Analytics that provides in-depth reporting and can calculate your conversion rates for you.
How will I know if my changes worked?
In my mind, the only way to think about conversion rate is to start at your current rate and start striving to convert 100% of the visitors to your site. Is that ever going to happen? Probably not, but as Les Brown said - “shoot for the moon, even if you miss, you'll land among the stars.” Shoot for 100% conversion rate and even if you don't get there, in attempting to do so you'll be instilling the necessary qualities for amazing improvements.
With that in mind, you should begin the process of trying to improve your conversion rate from your baseline. The bad news
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