When you say that you have a goal to increase revenue, that’s awesome. It is good for the business, it can get very specific, and allows you to set reasonable step goals along the way.
But you still need to find the smaller projects and tasks that will let you achieve your goals. You need to know what actual work to do every day, and how to measure whether or not you are moving in the right direction relative to the larger goal.
One way to figure those tasks and incremental goals is to decide WHO you want that money to come from, and how you’ll earn it.
First time customers are just that, people who spend money with you for the first time. You want to turn first-time buyers into long-term customers and brand advocates. To do that, you’ll want to make sure they have a wonderful buying experience.
This goes beyond just delivering the product they have purchased. Reach out to these customers. Offer them support, find out what questions they have, be proactive about any problems and customer service issues. If you can wow a first time customer, you will create repeat customers and lifetime fans.
A few ways to increase revenue from first-time customers
Repeat customers are those coming back after one or more purchases. You want to continue nurturing your relationship with them and offer them options and reasons to purchase again.
The longer you can retain a customer, and the more they spend with you over their customer lifetime, the better. There is a certain cost to acquire new customers (marketing and advertising costs), and the more each customer spends, the more you recoup and surpass that cost. Repeat customers are much more profitable than first-timers.
A few ways to increase revenue from repeat customers
Not every sale will come from a first visit to your site. In fact, many won’t. Higher priced products especially may require multiple visits and exposures to your brand to complete a sale. That’s fine. People who return to the site are much more likely to buy later.
With potential customers, you want to either get a macro conversion (a sale) or a micro conversion (a step towards a sale, preferably permission to market to them personally via email). You want to establish a hold in their mind and convey how your products will make their lives better.
A few ways to start the money flowing from potential customers
… and those people have differing needs, concerns, fears, hopes, reservations, and relationships with you.
Each of these groups have different needs, different relationships with you. The thing that all of these people have in common, is that they are YOUR people. These are the people you want to interact with through your site the most. You want them to give you money, and you want to be happy with the exchange.
Focus on addressing the needs, concerns, fears, hopes, reservations, and your relationship with the people who give you money, and you’ll have a clearer picture of how to grow your bottom line.