Could you use a constant stream of new customers to your online business? You more than likely do, but you should know that this is normal. Even people who are mega rich will tell you that they could use some more money. This is something that I laugh at. The rich are never satisfied.
You on the other hand don’t have the luxury to sit in your mansion and work only a few hours a week on your internet business. If you have absolutely no idea as to how to make money online, it will be a long learning curve for you. But all of this can be circumnavigated with the right help and tips.
Now when it comes to making money on the internet, you should know that “get rich quick” doesn’t exist. So the next time you hear somebody say, “I made $5,390 in only 30 days without a website or product”… ignore them with great vigor. These are the people you want to stay away from because they will only lead you into purchasing their next product.
Very few of people like this care about your internet business success. The majority of them are only looking to make their pockets fatter. You will have to learn how to sort through the clutter, and find the few strategies that you need to take your business to the next level.
In today’s lesson, I want to share with you some tips on how to improve your overall sales in your business. Now more than likely you haven’t considered these ideas, so it’s something that I think you will truly benefit from when you hear them. Here’s the first tip that you need to know when marketing your business online:
1) Get backend sales
Multiple sales from repeat customers will make up the bulk of your sales and profits. In fact, it will make up for 80% of your total business profits. The minute you get a new customer, put them into your backend marketing sequence, and start marketing to them again every 3 days.
This is pivotal, because without doing this, your business remains one dimensional. You need a business that is full of diversity, and full of backend marketing. Here’s something else that you will need to do to make more money in your online business.
2) Calculate the lifetime value of a customer
If this isn’t one of the most important things that you need to do in your business then I don’t know what is. The lifetime value of a customer is the average amount that every customer pays you over the lifetime of having them. So if your average lifetime value of a customer is $2000…I think it’s safe to say that you can afford to go negative a lot when acquiring new first time customers.
It’s all math, and if you can understand it, it won’t be a long time until you’re making a lot of money in your business. This is something that you will want to take into consideration when starting a new advertising campaign.
These 2 aspects of your online business are things that you seriously need to consider. They make you wealthy, or lack of knowledge about them can make you (and keep you) broke.
By Hailey James