Business Basics: There Are Only Three Ways to Increase Revenue

Increasing revenue solely depends on one of the following three things: 1.) Increase the number of people that see your product offering. 2.) Increase the number of people who, after seeing your offer, buy it. 3.) Increase the number of existing customers who buy from you again. There are no other ways to increase business revenue. Keeping these principles in mind during your daily decision making process or when doing a task list will help you drive revenue.

I. Increase the number of people that see your product offering
This can be thought of as the external marketing you do to get people to your website. The more people you get to your website, the more opportunities for conversion you will have.

Paid Options:
- Google AdWords
- Other Ad Platforms

Free Options:
- Directory and Business Listings
- Article and Content Websites
- Community or Niche Communities
- Partnerships

Search Engine Optimization and Marketing
- SEO
- SEM

II. Increase the number of people who, after seeing your offer, buy it
This is the conversion ratio of your sales pages. Getting a visitor who is reading your sales page to buy your item is the goal, called “conversion”. Increase the ability of your page to convert visitors into buyers and you will increase revenue.

Product information:
- Clear, concise product description
- Product Images or Samples
- Instructions for Use

Support Information:
- Ask Seller a Question
- User Reviews
- Contact Information

Purchase information:
- Payment Types
- Refund or Guarantee Policies
- Shipping and Delivery Costs and Times

Site Omptimization
- Page Load Speed
- Navigation
- Sales Funnel


III. Increase the number of existing customers who buy from you again
A person who has purchased from you previously is many more times likely to buy from you again vs. someone who has not bought from you. Selling to your existing customers is the lowest cost means of increasing revenue.

Related Products or Services:
- Create a Complimentary Product (upgrades)
- Offer a Required Product for the Primary Offering (batteries)

Communicate to Customers:
- During Primary Purchase Checkout
- Order Confirmation Emails
- New Product Announcements
- Newsletter Announcements
- Discounts