Price promotions are for many business owners a blessing in disguise. On the other hand, it may turn out to be a disaster for your business after a while. After all, the value of using price promotions is that it may render a quick remedy when you cashflows and revenues are lagging behind.
However, if you rely too much on price promotions to get business, you may put your business in danger over the long-term. In fact, you may turn your loyal customers into greedy bargain hunters.
So, please view the video (above) for a richer experience of this discussion…
It’s no good if you have a website, pay your butt off to get traffic to it, but you don’t get any user conversions. Getting user conversions is the goal of any website owner, because if a visitor performs an action on your site, there’s usually money to be made…
A lot has been said about user conversions and how to get them. However, almost everyone agrees that the experience that a visitor have when landing on your site, has much to do about the number of conversions you’ll get.
What is a user conversion?
A conversion occurs when a user does something in response to a call-to-action placed in an ad, offer or notification. For example, a conversion for mobile may be a download, install, sign-up or purchase (Adjust).
Only a small number of visitors to your website will do a conversion. In fact, if you achieve a conversion rate of two present, you’re deemed to have done well. Fortunately, user conversion rate can be measured and is calculated as follows: number of actions divided by the number of visitors.
So, if you record ten purchases for every one thousand website visitors, then your user conversion rate is one percent. Conveniently, you can use Google Analytics to see what your conversion rates are…
Why are conversions important?
Getting a high user conversion rate should be the prime goal of every website owner. Here’s why:
To get leads or sales;
Stay ahead of competitors;
More conversions decrease your marketing costs;
It increases the efficiency with other marketing platforms, such as affiliates;
Improvement in the conversion rate will quickly show on your bottom-line…
How can you increase your conversion rate?
Now that you realize how important conversion are, here are some tactics you can use to get the rate higher:
Add a pop-up to your site;
Add testimonials, reviews, and logos;
Make the initial step really easy;
Add a third-party signup service;
Strengthen your call to action copy;
Add live chat to your site.
Managing your user conversions
You did all the hard work and paid scares money to get the users to sign up with your website. However, your work isn’t finished yet. Indeed, you need to know your users better and start managing them.
Start by answering the following questions:
What are their demographics such as age, education, ethnicity, and family status?
What goals do they want to achieve using your website?
What content will help them to achieve their goals?
Once you’d learn more about your users, you can assign them to a niche segment…
Don’t forget to communicate regularly with them.
If you think that getting traffic to your website is difficult, then try them to convert once they’re there;
Targeting the right users and then give them an extraordinary experience on your site will do the trick;
Remember, the users that register on your site will now be your regular clients;
All you have to do is to monitor what they need and what they enjoy;
Then, tell them that’s exactly what you’ll offer them, if they visit your website again…
Always keep them updated and informed – maybe with a monthly newsletter?
So, why do you need a business plan with financials? Starting your own business and doing so successfully is one of the surest ways to protect yourself again catastrophic events such as the COVID-19 pandemic. Indeed, if you are a current business owner, it’s unlikely that yo can carry on doing business as before.
Your customers have changed their shopping behavior with the lock-down. They’ve been forced to look for their products and services online, and probably enjoyed the experience.
Sadly, many of your customers probably have lost their jobs and now have little or no money to spend. This domino effect will also hurt your cash-flow and sustainability.
But, with every catastrophic event, opportunities come to the fore. So, maybe it’s time to press the reset button of your business. Or, if you’re starting a business, it’s time to do the right thing from scratch!
It’s now the time to change everything urgently. Such as, adding an online channel, or to innovate new marketing tactics. But, you need to take control.
eBizplan can help you to start over again… please view this video to see how.
A Business Plan to Take Control of Your Own Destiny
Answer the following questions about your current situation…
Where are you now?
Are you working, but are getting nowhere?
Are you without a work, and need desperately an income?
Do you have a great business idea that other needs to buy in?
Do you need money to start a business or to grow your business?
Are there people that you want to invest in your business?
Do you need a guide for running operations once your business has started?
eBizplan offers a Web Content Writing Service to website owners and prospective online business owners. This video explains the importance of good web content. It also mentions eBizplans procedures. Warm regards, Douw G Steyn, director EBIZPLANZA (PTY) LTD www.ebizplan.net
You can fill in the form below if you’re interested in our Web Content Writing Services
Is it worth the trouble to get a university degree? Is that a fair question? If not a degree, then what is the alternative? After all, the ‘new normal’ post the COVID era will be anything but normal.
There you have it. Here in South Africa there’re lots of movements, at least one for every issue that we can think of. Indeed, there is even a movement that represents unemployed graduates – The Unemployment Graduate Movement (UGM). That’s scary, because I thought that once you have your bachelor degree, you can walk in almost every job.
What should you do to add your business online? For one thing, you should add the online channel urgently to your business model. Why?
Because, we’re now for months in the devastating grip of the CORVID-19 lock down, and with little relief in sight. As a result, your customers are staying at their homes for most of the time. No ways that they’ll visit your shop to feel good, or to go for an outing. Sadly, no shopping experience for them then…
In fact, there are many obstacles that your customers must endure before they can walk into your shop. Things like:
Wearing a mask – uncomfortable but essential;
Getting decontaminated continuously with suspect chemicals;
Standing for hours in a que to get their essential goodies – because the shops are limited to the number of customers that may be in the store at any time;
Wondering if they’d picked up the virus this time – because not everyone was wearing a mask…
Organizational culture matter. Indeed, organizational cultures are central determinants of the character of organizations. After all, culture is the glue that holds together all of our values, our beliefs, our sense of self, and our confidence and trust in the people around; says Jerry Haney, author in Executive Life magazine.
So, what is the organizational culture of your business? I think that most business owners may battle to answer this question. Why? Because everyone takes the organization’s culture for granted. They live the culture every day, conform to its unwritten rules, and reject the outsiders and reward those who conform.
So, you’ll only hire people who has character… I never understood this ‘character’ thing they test me for before going for a job interview. Anyway, I’ve failed most of the tests. Sadly, it’s no surprise, I’ve two disqualifying personality traits doing the character test – 1. I’m honest; and 2. I’m a non-conformist.
For most employers that’s too much – I’d never heard of them again! That’s a shame, because I’d always thought that I could’ve made a positive impact on their businesses. But that’s my perspective. Hence, it’s my perspective versus their perspectives. And there you have it – nobody wins…
Customer service is everything. Indeed, if you don’t take care of your customers, someone else will… Yet, it seems that taking care of your customers is not even on the agenda with many management meetings.
Besides, the meetings are mostly about the sales performance against the budget or other trivial internal company matters. But, sadly, not about your customers.
How many times, as a business owner have you heard, or read that cash is king. I’ll bet you that it was a lot of times. However, we’re now really busy doing business during the 4th industrial revolution. After all, is that enough reason to discard cash to the history archives?