A quick example of a 1,000% increase in profit
"According to the August 2007 edition of Target Marketing Magazine, “...research indicates that the average conversion rate - that is the ratio of orders to overall site visits - is 2.9 percent.
Since this research didn't include smaller online marketers, I suspect that the actual average is lower – probably closer to 1% or 2%.
Of course, these studies could never tell us whether 1% is good or bad, because it depends what you're selling.
For instance, if you're selling a $50 million jet engine, then 1% would bring in a lot of money! You only need 100 visitors to make a $50 million sale.
However, if you're selling a $50 product, and your site converts 1% of your visitors into customers, then every 100 visitors will earn you $50. How much of this is actual profit will depend on your costs. If it costs you $40 to get these visitors, then you're making a profit of just $10
o you'll need a lot of traffic to make a lot of profit!
For instance, if you wanted $1,000 a month profit, you'd need at least 10,000 visitors a month (assuming that your costs per visitor remained the same).
Creating that many visitors can be hard work!
You could, of course, reduce your costs by finding cheaper sources of traffic – but pay-per-click advertising is generally rising in cost, and besides, cheaper ways of generating traffic often have a different cost – the cost of your time.
However, watch what would happen if you were able to go from converting 1% to 2% of your visitors into customers.
This means every 100 visitors now generates 2 new customers, which earns you $100 in revenue ($50 per customer). Your costs haven't changed – it still costs you $40 to get the same amount of visitors. Your profit is now $60.
Did you notice what happened? By getting your site to convert more of your visitors into customers, your profit has gone from $10 to $60 for each 100 visitors – that's an increase in profit of 500%, without spending an extra dime!”
Want to keep reading this interesting study.. Read below!
What I just shared with you is nothing more than the first paragraph of Paul Hancox's "Small Changes - Big Profits 2008 Edition."
Paul is the great believer I've ever met in testing and split testing any offer you place online. The problem with most split testing is its confusing as anything! None of it really makes much sense. I mean, how do we exactly split test two different headlines or a difference background color, or the color of a headline or even "buy now" buttons.
The truth is, most don't. The problem with not testing is that you're losing sales and Paul wants you to know it. I recently read of one marketer who started split-testing the color of his headlines. After a few years of using a red headline with daily sales he decided to start split testing a blue headline. Guess what happened?
Well, long story short, the blue headline converted better on a daily basis. Do you know what this means? This SMALL change resulted in big profits. HAD the user implemented this testing years ago, he would have had these sales for the past few years. So over the course of a few years, who knows how many thousands of dollars was lost. Well, the marketer believed that if the headline would have been blue since day one, and converted at the same rate as his split testing, this would have resulted in over $90,000 in more sales.... Or $30k a year.
Crazy right?
Now don't get me wrong this isn't some silly little E-Book. This is a whopping 178 Page monster! If you purchase I recommend sending this to your local Kinko's and having this thing printed in full and bound!
Paul explains everything in clear english and these changes can easily increase your online profits by the thousands.
Without a doubt one of the best books I've ever read when it comes to Internet Marketing. And don't think for a second this book applies only to Internet Marketers, this book applies to everyone including big and small businesses trying to make a stronger presence online.
Anyways, don't let me waste any more of your time because you need to read this report now. If you want to check out a 20 page sample of the book you can do so by clicking HERE.
It's a free download for the first 20 pages and you'll see why this book comes with my highest recommendation.
If you want to purchase the full version after reading through the sample for only $47 bucks, you can do that too. CLICK HERE.
I've added the original sales page online if you want to give that a gander. CLICK HERE
To your online success,
Noah
Tags: making money online, internet business, adwords, seo, internet marketing, adsense, search engine optimization
