Believe it or not, there’s a very fine line between becoming fabulously wealthy from your online business and consistently losing money.
The one underlying variable which determines whether you get richer or poorer from your online activities is your sales conversion rate, and even small changes made to your lead capture and sales pages can have a big effect on your conversion rate, changing winning campaigns into epic fails, and vice versa.
In order to create a scalable business you need to have very effective strategies for turning website visitors into leads, and leads into paying customers.
Your ability to create high-converting lead capture pages and sales funnels can determine whether your entrepreneurial project becomes a rapid success or an utter disappointment.
Working hard on a funnel is not enough as the internet is not a forgiving working environment and you don’t get rewarded for your hard work like you do in a job.
You get rewarded for your success and the success you achieve, if any, all boils down to whether or not your online selling system (funnel) converts well.
Whether you pay for them or not, website visitors cost you. You either need to invest money or time to get them. If you pay for traffic and fail to make more from your website visitors than it costs you to get them then you don’t have a business – you have an expensive hobby.
As for ‘free’ traffic strategies, unless your funnels convert well, you spend a lot of time on building traffic to your website for little to no reward.
In order to make a profit instead of a loss from paid advertising campaigns, you need to be able to work out how much your average visitor spends in your sales funnel (EPC value) and how much each visitor costs you. As long as the average visitor spends more in your funnel and follow up sequence than it costs you to get them to see your funnel, you’re onto a winner. Just scale up and monitor your ad spend and sales to ensure the conversion rate holds.
Whilst this principle is very easy to understand, the problem faced by most marketers is that it’s exceedingly difficult to create real life ad campaigns which make a profit instead of breaking even or making a loss.
There are several skills you need to develop to maximize your EPC and run profitable campaigns:
- understanding your market (who is going to buy your product)
- identifying the best advertising sources for your sales funnels
- producing high-converting ad copy
- finding out which keywords to target if you’re using ppc (pay per click) traffic
- producing high-converting lead capture pages
- producing and presenting high-converting offer pages to your new leads
- writing engaging follow up emails
Some of these skills you have to develop for yourself with practice.
However, there is a product called The Auto Profit System which makes it much easier to create funnels where you make money instead of losing it, simply by automatically duplicating what the most successful marketers do but without the need to have their technical skills (or their budget to hire other people with technical skills).
Have a look at it here. If you’re already building a list then this will give you a much greater ability to convert sales while you’re building it.
If you’re not building a list, you really should be. Visit this post to see why I think it’s absolutely essential to use email marketing if you intend to generate a reliable income by selling digital products.