The numbers have a purpose and today I’m going to share with you what to do with your data to boost your bottom line.
Over the past couple of weeks I’ve been leading you through a mid-year biz check-in to help you evaluate your goals and make sure you are on track. Last week, I encouraged you to “assess the health” of your biz by taking a look at the metrics that matter to you and establishing a baseline of data. Now that you have a baseline and some target goals moving forward, we can start planning some ACTIONABLE steps using that data to help boost your bottom line.
I am an email marketer. One of the most important steps you can take to increase customers is to increase your list of people that you can nurture now and into the future. That in turn means you need more people to sign up for your list. Where do these new subscribers come from? You get them by increasing the traffic to your site. Some of the things you want to do and track are:
- Get more traffic from various sources. This should always be a priority and something you work on regularly. Use the spreadsheet I encouraged you to make last week to track the metrics for your social sites so you know where to invest your time and resources. Is Instagram the place where your audience loves to connect with you? Then put an opt-in link in your profile and continually give people reasons to sign-up for your list.
- Your next focus should be getting more subscribers. As you start to get more traffic, your list will start to grow, but don’t stop there. Tweak your opt in-forms to increase conversion. Create a new lead magnet to get the attention of a different sub-group of your target audience. Set up a few dedicated opt-in pages and start driving traffic to them. Do what you can to continually grow your list and pick up speed in the process. Don’t have an opt-in form, shoot me a message, I’d be happy to discuss creating one for you using my preferred platform, Mailchimp. As your subscribers come in, make sure you tag them so you can track where they are coming from and can follow-up with customized emails.
- The third piece of the puzzle, and where things get really interesting, is turning those subscribers into customers. You want them to spend money with you either by buying your products and services, or through your affiliate links. Offer more products. Find more attractive offers you can promote as an affiliate. One solid way to do this is to use those tags you created. Create an email funnel to send to those who’ve opted in with some irresistible offers to keep your biz on their mind and at the forefront of their inbox!
The real power of this approach becomes apparent when you start to look at how these three things work in synergy.
By getting more and higher quality traffic, while improving your opt-in rates, and creating higher prices products with sales funnels that convert well, you can quickly make a huge difference in your bottom line.
Each of these elements alone will help, but by combining them, you will start to see exponential growth.
Let me illustrate this with an example. Let’s say you start out with 100 new visitors per day. 10 percent of them sign up for your mailing list, which comes out to 10 new subscribers each day.
One of these people buys one of your products at $10.
Now let’s see you double your traffic. With nothing else changing, you go from making $10 per day to $20. But what if you can also improve your opt-in forms and get to a 20% conversion. You also create a few more products and each of your customers ends up spending 3 times as much as before.
When we add all that up you go from making $10 per day to 40 new subscribers each day which means 4 new customers. If each of them spends $30 shopping around in your shop, you end up making $120. That’s a pretty big bump from $10 while still only requiring you to double your traffic.
Pretty impressive, isn’t it?
Let me break down everything into a 5-step plan for this week…
Step #1: Refresh one of your current opt-ins. If you don’t have an opt-in, create one.
Step #2: Start sharing that opt-in on every platform where you are active. Share more frequently on the platforms where your audience is most active (use your data to give you some direction on where to invest the most).
Step #3: Invite people to share your opt-in in your newsletter.
Step #4: If you blog, add your opt-in to your blog.
Step #5: Create a customized series of emails for these new subscribers in addition to your welcome email or funnel. These new customers are excited and you want to do everything you can to keep them engaged!
Set goals for yourself along the way. Do you currently have 100 subscribers, make your next goal to increase that to 150. Set a goal to gain XX new customers each work or make XX additional dollars in sales. Then, make sure you celebrate your victories along the way 🙂
Remember to set aside a few minutes every week to track your data so you can continue to tweak your opt-ins and offers so you can keep attracting new customers.
I’m cheering for you!