Dotcom Business Growth Secrets

Dotcom Business Growth Secrets

Dotcom Business Growth Secrets

Most people don’t really understand business and thus work too hard. In reality, we should only focus on 3 basic areas of the chassis to transform our businesses into a profit powerhouse. This is where the world of dotcomology helps relieve that mistake of having to pour excessive hours of our precious time into the money making arena.


Here’s the 3 areas of the business chassis we should focus on:


Increase our customer base

Our customer base can be made to grow, simply by multiplying the total number of leads with our conversion rate. Remember, it’s not about getting more customers, you can’t change that, it’s about getting more leads and then improving your conversion rate.

• Leads
  
  These are the number of potential buyers, and having an online business, mean that you can have infinite ways to
  advertise your products. Please do not confuse responses with results. Just because the phone’s ringing, it doesn’t mean that the cash register is. That’s where you’ve got to remember your….


• Conversion Rate
  
  This is the percentage of people who did buy as oppose to those who could have bought. For example, if you had 10 people surf through your online store and only 3 of them bought something….that’s a conversion rate of 30 percent, which is a literal goldmine! At this stage, you’ve already got them interested; now you’ve just got to get them over the line. Converting your leads to clients, requires a little marketing, and in the dot-com world, it can be done for a small fee. For example, I personally use http://www.getresponse.com to touch base with my prospects. These auto responders services takes care of the nitty-gritty of sending the right updates to the correct group of prospects.

Increase your number of transactions

Some clients buy just once, others buy from you weekly and there are even those who buys monthly. Over here, what you want to know is the average. Not your best or worst. Another secret here is that you have got to keep the database of contacts which you have collected in the past, and go back to them with updates, free software and maybe even loyalty programs to encourage another purchase. Once again, the auto responders are of a great help for many online businesses. A little creativity goes a long way for profit generation!


Increase your Average Dollar Per Sale

Once again, some clients might spend $5000, others just $5, but the average is what you are after. Just a few dollars more on each and every sale could be all it takes. You can always pick up a strategy or two from the likes of McDonald’s…have you ever noticed that they often ask for more sales from you on impulse buying items when you are making your final purchases?


One final note…after you have gathered all the data above, just multiply the total number of customers you dealt with, by the average number of transactions, by the average amount of dollar per sale they spent with you and voila… you have your turnover! Now, if you were to just make an increase of 10 percent on each of the above points, your turnover and profits will definitely triple! Go try it and start building your online empire!

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