5 Ways You Can Increase Online Business Revenue!
By: Samik on December 10, 2016
If you’ve just started an online business, you’ll face some issues with self-sustenance in the beginning. During the first few months, the bills can be quite the burden since you won’t have a lot of income flowing in. So to self-sustain, you should follow some of the proven revenue models that can boost your online business. To survive, you might need investment from outside parties to keep you going until your business becomes stable and you’re able to keep yourself afloat. Even companies like Twitter managed to survive only on investments until it became large enough to sustain itself. If you’re looking to increase online business revenue, here are 5 revenue models that might help you.
This step is the easiest and most obvious method to convert visitor traffic into money. Most businesses make their revenue from advertisements. If you’re already making good money from your visitor traffic, Google will tap into your customers, but not necessarily through your website. Google’s tactic is to push in big user-generated websites to the top of their results page and leaves the commercial websites at the bottom, which leads to improved conversion of the SERP (search engine results page) advertisements. With this in mind, you should realise that your business cannot solely rely on ads, so it’s wise to set up an AdSense account and embed your ads to bring you more visitors and in return, more money.
Here is the link for how to set up a Google AdSense account and how to get a Google Adsense Account Approval.
2. Advertise on your website
Depending on what kind of business you run and your website, you might be able to sell some direct advertising space. This could be a sponsored profile page, an expanded profile, or sponsored results from your site’s search results. Through direct advertising, you’ll be able to directly communicate with end companies who’d be interested in advertising with you and eliminate middle parties. You could also create a Facebook ad or run an Adwords campaign to boost your sales some more.
3. Generate leads to increase online business revenue
The trick with this step is to create a subscription window, where your readers can register themselves with their name and email. The goal is to give them value-added information related to your reader’s interest. For example, you can give away report, E-books, videos, audio files; almost anything related to your visitor’s interest. While they will love to get those they will subscribe to your email list. From here you can feed them with authentic information through your email autoresponder system. Eventually down the road, you can increase online business revenue through this email list.
4. Convert registered users
If your business involves connecting customers with other businesses, you could generate specific leads or create ads that appeal to customers needs and interests. Monthly newsletters, promotions, and deals are also a great way to convert your registered users.
5. Become partners with companies in a connected system
By becoming partners with other websites in a connected niche, you could redistribute advertising space or leads, which will help to increase online business revenue. Create a section for your partner on your website and in turn create one for yourself on their website. This will help both of you take advantage of each other’s user traffic.
Besides these steps, you could also consider conversion optimisation, which allows you to experiment with pricing, recommendations, product features to improve customer experiences and grow your revenue sources. You could also extend to other media sources and offer more on your services. If your services are an exception, you could even reach out to your users for donations to help further develop your website and business.
Which model are you using to increase online business revenue? Share those with us.
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