Is Your Online Business Losing Money Without You Even Knowing It?
As an online marketer, it is easy to concentrate on how much income you are generating, but have you ever thought about how much you may be losing? There are just as many ways to lose out on possible income as there are opportunities to generate it. What makes things even worse is that most of the ways that you are losing out on making money are things that you have simply overlooked. The good news is that all of these issues are easily fixed once you become aware that there is a problem.
Here are four ways your online business could be losing money every single month.
1. Concentrating on the Wrong Numbers
Metrics are just a tool, which means that they are only as effective as the person using them. While the concept of metrics has become popular with online marketers over the past few years, many people still don’t really understand the correct way use them. One of the main reasons for this is that it is so simple to use the wrong metrics to gauge the success of a particular campaign.
Would you like to have a list of 25,000 subscribers or 50,000 visitors to your website every day? Of course you would. The problem is that knowing these numbers doesn’t actually tell you anything. Raw data is really not giving you the true story. It is amazing how many stories there are amongst online business owners where a person has a gigantic list, but they are still unable to make any money off of it. This is usually because they become so caught up in growing their list, that they never spend any time in cultivating a relationship with their subscribers or put much effort into encouraging email conversions.
2. Not Ensuring that You Have a Way to Contact Your Readers.
Another easy way to miss out on thousands of dollars every month is by not ensuring that you have a way to contact potential buyers. It makes no difference what type of sale you are having or how brilliant your latest content is if the people who are interested in it never learn about it. The only way to make sure that they do is by finding out who they are and setting up a method of communication with them.
Many online marketers use list building for just this purpose by having a list they can send out an email whenever they want to alert their subscribers to any new content and products. If you don’t want to maintain an email list, then using social media for leverage is another option to keep your readers informed and might be more your style. Using a Facebook page, Twitter, or YouTube are all good choices.
3. Failing to Tell Your Readers What to Do Next
What this means is not having a call to action. Whenever you make contact with your readers, you need to tell them what you want them to do next. This could be something as easy as asking them to leave a comment after your blog post or sharing your content on their Facebook page, or even Tweeting about it. No matter what you choose to tell them to do, it must be something. Don’t ever assume that your potential buyer can read your mind and do what you want. This is a sure fire recipe for disaster.
4. Having a Website without Any Landing Pages.
It is not important what type of website you use, there must be landing pages tailored to suit different types of traffic. Just getting traffic to your website is seldom enough because you cannot guarantee that they will go where you want them to. For example, YouTube traffic usually converts better when they are sent to short video landing page in preference to a product page. While you still need to generate organic traffic to your entire site, you would also want to have designated landing pages for your best campaigns.
So if you feel that your online business is losing money and you are not earning what you think you should, then implement these 4 methods and see how much your bottom line improves.
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