Are Price Promotions a Blessing in Disguise or a Waiting Disaster for Business Owners?

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…

Continue reading Are Price Promotions a Blessing in Disguise or a Waiting Disaster for Business Owners?

User Conversions on your Website

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:

  1. To get leads or sales;
  2. Stay ahead of competitors;
  3. More conversions decrease your marketing costs;
  4. It increases the efficiency with other marketing platforms, such as affiliates;
  5. 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.

Concluding

  • 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?

Read also: Organic Search and Search Engines give your Website Sustainability over the Long-Term

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A Business Plan with Financials by eBizplan

Watch this video!

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?

Then You Need a Business Plan with Financials!

Read also: The value of business plans when you start a business

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About eBizplan’s Web Writing Service

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

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