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For many people their first attempt at creating a
business website - whether it is to generate
leads, sell products, or provide access to secure
information, is a complete failure.
Buy cheap UNDERSTANDING YOUR ONLINE NEEDSA Guide to Getting Started in the E-commerce World term paper
Im sure that youve heard the statistics - some
8% of online businesses are not profitable.The
question is, what can you do to insure that you
fall into the top % of websites online?
========================================
Understanding the Nature of the Internet
========================================
The biggest thing that online marketers seem to
fail to comprehend (or at least they choose to
ignore) is simply the nature of the media that is
the internet.
There are millions of sites online.Unless you
are creating a huge portal site which provides
current news or stock quotes or a free repeatable
service such as hotmail that people will need to
come back to every day, most people will only ever
see your website one time.
Because of this, your website needs to be a direct
response advertisement for your product - the
internet by default makes you a direct response
marketer.
What does that mean?It means you need to focus
on getting an immediate action from your customer
- and it can only be one of two things
1. a sale
. their email address
If you are trying to do anything else with your
website (such as branding, god forbid...) you are
simply throwing money out the window.This is the
first thing that you have to know about internet
marketing if you truly want to succeed.
========================================
Understanding Your Stats and Conversion
========================================
Understanding that your website is a direct
response advertising business makes business
online very simple. Direct response marketing is
one of the easiest techniques available for
generating huge profits on a continual basis.
Why?
Because it all comes down to two things
1. Your Traffic (how many people see your site)
. Your Conversion Ratio (how many of those people
buy your product)
We will talk about generating traffic to your
website later in this course, for now we are just
going to talk about a basic understanding of your
conversion ratio.
Business online is simply a calculation.You need
to make sure that you spend less money getting
people to your site than you make in sales, and
there you have a profitable company.
The internet makes this a breeze by providing
technology to analyze your numbers that would be
impossible to create offline.
Most sites have a standard conversion ratio.On
almost all websites you have access to your
visitor statistics (if the company doesnt offer
this, forget them quickly).All you need to do is
look at your # of visitors and divide it into the
number of sales that you make in a specific time
period.
For example, if you had 580 people visit your site
last week, and you made 4 sales, your conversion
ratio is 4 / 580 = 0.0068655 (a little more than
half of one percent - not terrible, not great)
The standard Successful conversion is about 1%
for direct mail, and a little higher online.
If you only sell one product at one price, you can
stop there (just use your product price as your
average sale price).If you are selling multiple
products, though, you also need to calculate your
average sale.So, if those four products cost
$5, $47, $54, and $, your average sale for the
week was
(5+47+54+) / 4 = $7.5
Of course, the longer period of time that you
average your sales over the more accurate your
final number will be.
So, in this situation, knowing that you convert
about .6% of your customers (note that is NOT
68%) and that the average sale is $7.5, you can
now generate your Visitor Value.
To figure out how many visitors you need to get
one sale you divide 1 by your conversion ratio
1 / .006 = 144.756
So 145 visitors are worth 1 sale, or about $7.5
to your business.You then divide the average
sale amount by the average number of people it
takes to generate one sale and you end up with
your Per Visitor Profit, or Visitor Value.
7.5 / 145 = 0.568655
(I know this is a lot of math, but it is one of
the most important things you will ever learn if
you are going to succeed online!)
To summarize, there are a couple of important
numbers.
# of Unique Visitors to Your Site (visitors)
# of Sales (sales)
Your Average Sale (avg sale $)
Your Conversion Ratio (CR)
# of Visitors per Sale (VPS)
Your Visitor Value (VV)
and...
(visitors)/(sales) = (CR)
1/(CR) = (VPS)
(avg sale $) / (VPS) = (VV)
Within these three simple equations lies the
success and failure of every website online.
In this example, you are making approximately $.5
per visitor (with no advertising costs)What this
means is that you need to spend less than a
quarter to get a person to your site, or you are
losing money.
If you can spend $.4 and make $.5 you are making
profit (not much, granted) and you can continue
promoting and try to improve.If you are spending
$.6 per visitor and making $.5 - STOP and
reevaluate your sales system, youre headed for
bankruptcy.
This example is a bit extreme, and it is not hard
to get much better margins than this, but it is
VITAL that you know your numbers when doing
business online.
If you sell high ticket items you may be able to
spend as much as $100 to $15 per lead generated
by your site, and if you sell candy you may only
be able to spend a penny per person - it varies
greatly depending on the business you are in.
========================================
Building a Powerful Site that Sells
========================================
You may wonder why I am throwing all of this
marketing information at you - this is, after all,
a course about web builders, isnt it?
Well, we are going to go in depth about web
builders, their specific advantages and
disadvantages, and your options over the next week
or so.The thing is, we want every single person
who reads this and decides to get a website to
succeed in their marketing, and there is really so
much more to it than simply building a site.
By the time you finish with this course, you will
not only know exactly what you need to know to
choose a great website solution, you will also
know how to use that solution to pull in great
profits with your business.
So - thats it for the first course.
Take the time to absorb what you just learned,
this is the foundation of all success online.Set
this aside for future reference and NEVER forget
to do your math!
In the next course well give you a hot checklist
of everything you need to know and have BEFORE you
even start on your website to ensure that down the
road things go as easily as they possibly can for
you.
Until then, have a great evening, and Ill see you
on Wednesday, October 1
Best Wishes,
Justin B Handley
P.S. , if you have a friend who would
benefit from this course, please pass this on.
Or, they can get their own copy of our full five
day free minicourse by clicking on the
following link
http//www.websitebuilderexpress.com n/a
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