How To Triple Your Online Sales In Half The Time!
| Category: Affiliate Marketing - Basics | Date: 2003-04-28 |
As a small business owner your time and resources are limited, but that doesnt stop the bills from coming in and it doesnt change the fact that if you are to succeed you need to survive. The concept is simple enough to understand -Reduce customer acquisition costs, Maximize the lifetime-value of your customers and Multiply the amount of customers you have.
How you get there and how "inexpensively" you do it is the key to determining your eventual success or demise. You see, business success is knowing not only where you are going but how you are going to get there . in advance!
Lets take a simple test to determine how prepared you are to evaluate where your business is going and to see if you are prepared to succeed.
Do you know:
Whats your average sale price?
Whats your average margin on each sale?
What is the lifetime sales value of each new customer?
Whats the lifetime referral value for each customer?
What is your customer acquisition cost?
If youre new in business and dont know the answers for your specific business, do you know them for your industry as a whole? Without this knowledge it is impossible to put a plan together to increase your sales or to even know how much you can allocate to acquiring a new customer before you go broke.
How do you minimize your time expenditure while maximizing your profit? Thats the question. Fortunately, Affiliate Marketing can help. Affiliate Marketing occurs when you establish a network of people as your "affiliates" and they have the ability to sell your products / services for you. Your "affiliates" are compensated only when they
make a sale for you.
The Internet changes everything it touches and it touches almost everything. For small business owners the Internet can become a weapon. A "Lethal Weapon" when combined with Affiliate Marketing because it helps reduce unnecessary sales costs, bring in more leads and make more sales with less time and effort.
There is one "Law of Sales," however, that the Internet has not changed. It will always take a certain number of initial prospects to become qualified prospects that then result in a sale. Because sales is a numbers game and you need to go through so many prospects, qualify them and then turn them into sales, the key to success would be how fast you go from step 1 (acquiring prospects) to step 3 (the sale) and then how many times you multiply that process.
Think of Affiliate Marketing as a machine that automatically keeps repeating this process by bringing the most qualified prospects and sales directly to you 24 hours a day and better yet, you only pay when a sale is made. Plus, using Affiliate Marketing lets you reach many more prospects through your "affiliates" who are promoting your products and services for you.
Affiliate Marketing is the perfect solution for the small business owner who needs to stretch every business dollar and who needs to do more in less time. After all, the most time consuming, difficult and expensive sale you will ever make to a customer is the first one. Think of how successful your business will be if you could focus on serving your customers not selling them.
With Affiliate Marketing you will increase your margins because you will decrease your customer acquisition costs. You will be making more sales in less time and proportionately you will make more referrals, which again leads to more sales. When you have your own affiliateprogram the "Cash Cycle" for your business works with you not against you.
Traditional selling methods are costly and time consuming. There is a better way and its called Affiliate Marketing. Through Affiliate Marketing you drastically increase your sales and only pay when a sale is made. Why would you do business any other way?
About the Author
Thom Schlip is the CEO of PlugInGo.com, a leading affiliate program provider, specializing in small and medium size businesses.
For more information on PlugInGo.com:See contact details below.
tschlip@plugingo.com
http://www.plugingo.com
How you get there and how "inexpensively" you do it is the key to determining your eventual success or demise. You see, business success is knowing not only where you are going but how you are going to get there . in advance!
Lets take a simple test to determine how prepared you are to evaluate where your business is going and to see if you are prepared to succeed.
Do you know:
Whats your average sale price?
Whats your average margin on each sale?
What is the lifetime sales value of each new customer?
Whats the lifetime referral value for each customer?
What is your customer acquisition cost?
If youre new in business and dont know the answers for your specific business, do you know them for your industry as a whole? Without this knowledge it is impossible to put a plan together to increase your sales or to even know how much you can allocate to acquiring a new customer before you go broke.
How do you minimize your time expenditure while maximizing your profit? Thats the question. Fortunately, Affiliate Marketing can help. Affiliate Marketing occurs when you establish a network of people as your "affiliates" and they have the ability to sell your products / services for you. Your "affiliates" are compensated only when they
make a sale for you.
The Internet changes everything it touches and it touches almost everything. For small business owners the Internet can become a weapon. A "Lethal Weapon" when combined with Affiliate Marketing because it helps reduce unnecessary sales costs, bring in more leads and make more sales with less time and effort.
There is one "Law of Sales," however, that the Internet has not changed. It will always take a certain number of initial prospects to become qualified prospects that then result in a sale. Because sales is a numbers game and you need to go through so many prospects, qualify them and then turn them into sales, the key to success would be how fast you go from step 1 (acquiring prospects) to step 3 (the sale) and then how many times you multiply that process.
Think of Affiliate Marketing as a machine that automatically keeps repeating this process by bringing the most qualified prospects and sales directly to you 24 hours a day and better yet, you only pay when a sale is made. Plus, using Affiliate Marketing lets you reach many more prospects through your "affiliates" who are promoting your products and services for you.
Affiliate Marketing is the perfect solution for the small business owner who needs to stretch every business dollar and who needs to do more in less time. After all, the most time consuming, difficult and expensive sale you will ever make to a customer is the first one. Think of how successful your business will be if you could focus on serving your customers not selling them.
With Affiliate Marketing you will increase your margins because you will decrease your customer acquisition costs. You will be making more sales in less time and proportionately you will make more referrals, which again leads to more sales. When you have your own affiliateprogram the "Cash Cycle" for your business works with you not against you.
Traditional selling methods are costly and time consuming. There is a better way and its called Affiliate Marketing. Through Affiliate Marketing you drastically increase your sales and only pay when a sale is made. Why would you do business any other way?
About the Author
Thom Schlip is the CEO of PlugInGo.com, a leading affiliate program provider, specializing in small and medium size businesses.
For more information on PlugInGo.com:See contact details below.
tschlip@plugingo.com
http://www.plugingo.com
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