This blog post is apart of a business planning series. Check out these other blog post first.
To grow you income, you need more customers. 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 then are:
Get More Traffic
Get More Subscribers
Turn Those Subscribers Into Customers
The Real Power Of This Approach
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?