Ask most small businesses today what they need to move to the next level and they’ll almost always tell you that they need to increase marketing budget… they need funding etc.
Most small businesses praise marketing as if it’s the solution to all their problems and while marketing is undeniably important, it isn’t the only way to take your business to the next level.
You can double and even triple your revenue by making a few tweaks and without increasing your marketing budget; this article share those tips with you.
1. Make Your Website Faster
Data has revealed that slow websites alone cost the US ecommerce market over $500 billion every year and for every additional second it takes your website to load, you’re losing 7% in conversions.
Also, around 64% of people who are dissatisfied with your website will leave for a competitor’s and 88% of them will never return. Some will even take things a step further and complain to people they know about their experience with your website.
By making a website a lot faster, you can get more people to check you out and pay for your products. Here are some ways you can make your website faster:
- Upgrade to a new, reliable web host
- Reduce the number of images, plugins and tracking codes you use on your website
- Start using a CDN service like MaxCDN or Amazon CloudFront
- Combine your website layout images using CSS sprites
- Avoid hosting multimedia files linked on your website on other servers
2. Make it Easy for People to Pay You
One mistake small businesses make that costs them sales and profit is the mistake of making it difficult for people to pay for their product or services. A recent Webcredible survey has revealed that 10% of online buyers abandon their shopping carts due to lengthy checkout processes.
When people have to spend 10 minutes on your website trying to pay or trying to figure out how they can pay to use your product or service, you can count them as lost customers. By reducing the friction for people who want to pay for your products or services, however, you can get more customers and clients for your business.
This was effectively demonstrated by online travel firm Expedia as well as popular blogger Neil Patel; Expedia was able to increase annual revenue by $12 million just by removing a confusing field from their payment form. Likewise, Neil Patel was able to increase leads to his digital agency firm by 26% and online revenue by six figures just by removing a field from his contact form.
The more difficult it is for people to get in touch with you or pay for your products/services, the more sales and customers you’re losing on a regular basis.
3. Let People See that Others are Using Your Product or Services
Social proof is a force of nature, especially when it comes to getting people to check out what you have to offer.
Nothing attracts a crowd like a crowd; it’s how we’re wired, we’ve lived our entire lives depending on others to survive and when a lot of people are using a particular thing, it means it has been tested and proven.
Include testimonials on your website, counters that let people realize that a lot of people are using what you have to offer and various kinds of social proof that automatically establish your credibility and the effectiveness of the product or service you have to offer.
4. You Don’t Have to Serve Everybody
It has always been the case; very few people appreciate what is available for everybody. To put this in perspective let’s take a look at the story of how potatoes became commonplace.
It was in the 1700s and the potato wasn’t always as popular as it is now; in fact, people don’t eat potatoes then. The French connected potatoes with leprosy and as a result avoided it, the Germans only used potatoes as feed for livestock and the Russian peasants saw them as poison. In other words, there was an abundance of potatoes but very few people paid attention.
However, things changed when Catherine the Great built fields of potatoes, built high walls around these fields and put up signs that Russian citizens should not steal her potatoes. Suddenly, the Russian peasants began to revolt and wanted the potatoes; the potatoes they saw every day and ignored instantly became available only to the rich, so they wanted it more than anything else!
The truth is you can’t serve everyone; serving everyone makes no one interested in what you have to offer but demand will automatically increase once you make your products/services exclusive and once you start to use the principles of scarcity in your marketing.
Try making your products and services scarce and not only will be value of what you have to offer instantly increase, more people will demand it.
Tobi is a professional marketer and blogger with over 3 years of experience; he helps people find the best ACH processing service.