The Power of Education in Arts essay

All business owners want to generate additional sales.
There are really 4 keys ways to do this:

1. Increasing site web traffic

2. Increased conversion from visits to sales

3. Repeat sales with existing customers

4. Increase the price of your products

All four are viable ways increase your profits. Did you know if you focus on just one of those ways, you'll discover a huge increase in sales without working harder and spending more money?

Which one will help you do this most effectively?
Without exposing the answer now, keep on reading and see if you can work it out from the hints.

Step 1: The 99 Customers That Escaped

Say for instance, you sell a product for $50 per unit and have a goal to achieve $2000 profit this month.

Internet studies on website marketing suggest that a website usually converts 1-2% of their visitors into customers who purchase something.

1 visitor out of 100 = 1% conversion. Through various advertisings campaigns, it cost you $30 for those 100 visitors. Your $50 dollar sale - $30 = a $20 actual profit.

To achieve your goal of $2000 profit, you need 100 sales. Since 1 out of 100 visitors buys you need 10,000 visitors to your site. That will take a lot of hard work and money to get those visitors.

So think about the 99 visitors that didn't buy a product. Imagine if you could focus on converting more of those
99.

After all if you are spending $30 to get 100 visitors to your website and you acquire two customers instead of one you then generate $100 in sales. So $100 less the $30 equals $70 in profits now. That is a 350% increase in profits and you haven't worked harder or had to spend any more money.

You can meet your monthly profit goal with only 2450 visitors. A lot less than 10,000 with 1% conversion.

If you didn't guess the correct answer by now, it's #2 - increase conversion.

But what about the other ways you can use to increase
sales?

You will need to generate website traffic but if your visitors don't convert into sales then you are in trouble. Repeat customers will generate repeat sales but you need to have developed a client base for this to work well. You will at some stages need to increase your price but be careful as some products can only bare so much of a price increase.

Increasing your conversion rate becomes the best way to increase sales and profits. Imagine if you continue to increase your conversion rate to 3% or 5%? Why not 10%? How do you increase your conversion rate? Next week in part two, we'll start showing you what to do to raise your conversion number.

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