In your internet business, do you do what’s necessary to track how much profits that you’re earning on each sale that you make? If you don’t, then you should know that this is something that simply shouldn’t be ignored. If you’re currently advertising and you are getting sales, but the amount of profits that you’re making are slim, then you will want to change some things around then.
For example, if the above scenario is true, you should know that you should be marketing to your brand new customers over and over again. This is known as “backend marketing”, and it’s where 80% of your total business profits will come from. Your customers are the most valuable asset that you have in your business – so you should treat them as such.
Yes it’s important to get more new customers on a daily basis, but if you aren’t marketing to your existing customers… you don’t have a business. Your “business” will be doomed to fail simply because you’re ignoring the most valuable asset that will make you the most money in your business.
In today’s lesson, I want to quickly go over some things that will help you to profit more in your internet business. These 2 things are aspects of your business that you don’t want to ignore, and are things that are simple and easy to do. In fact, here’s the first thing that you can do to profit more online:
1) Do your math
You really have to know the math in your business. One of the most important numbers that you should derive is something called the “average lifetime value” of a customer. All this basically is the total average dollar amount that each customer spends with you over the course of their lifetime.
So if the average customer spends $400 with you for the course of your entire relationship, it shouldn’t mean much to you if you go negative by an average of $20 for each customer that you acquire. And you shouldn’t worry because even if you lose $20 on each new customer that you get, you know that you will make that money back and more in the backend selling cycle of your business.
Here’s another tip for profiting more online:
2) Be different
Don’t copy your competitor’s ads and campaigns. Be different and market your business in the most logical and effective way as possible. Your competitors may be doing a ton of other things behind the scenes to get them traffic and make them profitable. And a lot of times, most of the things that they do behind the scenes aren’t even working for them!
So be different. Come up with your own list of internet marketing strategies and implement them on a weekly basis. This is something that you will want to do if you wan to have the utmost success in your business today.
Take these 2 tips and use them to take your business to the next level. It will be more than worth it.
By Andrew Adamson