One of the mistakes that a lot of online entrepreneurs and marketers make when it comes to growing their revenue online is they’re always looking for tactics and gimmicks, meaning like, what is the latest trick, right? What is that little script that I could use, or what is that one little tool, what’s the plugin?
Now, tactics are important in some cases, but very often what prevents you from growing your revenue online, they’re not actually tactics, because tactics change all the time. What actually grows your business is strategy. What is the right move that you need to make? What are some of those strategic moves, the strategic thinking that goes behind the moves? That’s what grows a company. And very often that requires a little bit of thinking. It requires you to kinda think a little bit deeper. So in this article, we gonna share with you the three strategies to grow your online revenue.
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Jeremy Haynes: How He Made good Revenue Online
I figured what’s a better thing to make this worth something to do besides telling you how to make more revenue and increase the ability to get more customers online for what’s working today while we do this, okay? There’s a lot of things that you could do that make money online. And there’s a lot of people who can give you advice on how to do these things, but you need to make sure that you’re getting counsel.
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Counsel means it’s coming from people who actually do it themselves. So I ran a marketing agency now for almost the last six years, more than five. The main businesses that we’ve helped hands-on ourselves are personal brands like people sell information products, author, speakers, you know, those kinds of personality types, get to seven figures a month. We’ve done that seven times. We’ve taken 42 people to six figures a month.
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In that process, we’ve consulted all different kinds of industries for what to do outside of who we help ourselves. We spent several hundred thousand dollars a month. We make people money on that every single month profitably. We worked with a lot of big people.
Strategy 1 – Horizontal Funnel Scaling
So I’ll tell you the first strategy, I call it horizontal funnel scaling. This is actually an accidental strategy that one of the funnel guys I worked with, his name is Ty, was giving me some slack on one of these funnels that we had, it was pretty low quality. We were trying to update a bad-looking funnel.
You know, this funnel in particular just had like a BSL and an application on it. We wanted to do something as simple as just kinda restyling the page, and also, whoosh! And we wanted to add some testimonials to it, just to give it more life, you know, make it convert better. In that process, I was doing the ads, he was doing the funnel. He created a beautiful funnel, and when I went to relaunch the new funnel, I forgot to turn off the old one.
It’s actually ended up benefiting the business because both funnels contributed to more daily applications coming in, which turned into more daily sales. Fast forward to today, that same client that I’m referencing in this case, they have seven versions of an application funnel, all of which are to produce applications and sales for the business on a $5,000 product, but there are seven versions of that funnel now, all with just slight modifications in between.
I’ve since taught this strategy to a couple thousand of my students who have paid me over the years, and we call it horizontal funnel scaling. We’ve seen it successful in e-commerce stores, like let’s say you got a successful product page, and you’re selling an e-commerce product. You can duplicate that specific product page, make some minor changes to it, and run traffic to both. It’s not necessarily an A/B test, ’cause in an A/B test, you’d wanna shut off the loser. Both should end up contributing sales profitably. And if that is happening, there’s no need to shut down one version or the other.
There’s actually an incentive to create a third variation, and a fourth variation, and a fifth variation. As long as the new version of that funnel, for whatever it is, an e-commerce product, getting leads, it could be anything, duplicated out, as long as both are producing sales profitably make a third, make a fourth, we call that horizontal funnel scaling. Such a simple and easy strategy. And you’d be surprised at how easy and high-producing that specific strategy is.
Strategy 2 – Successful Action Audit
Another really good strategy to make more revenue, so a lot of the times we come into businesses, and we’re always shocked to hear that they had a lot of success, and then that success seemed to dry up. And we usually try to initially find out like, well, what were you doing that worked, and what are you doing today? And a majority of the time, what did work for them, they just kinda stopped doing along the way. They stopped doing successful actions. And they started doing something different. They started doing something unproven, which is okay.
That’s sometimes how we find new revenue streams, that’s sometimes how we find new winning products or new funnels. But you should never stop the successful action as long as it’s continuing to produce success. If anything, you should repeat the successful action. So a lot of the time when we come into a business, one of the first things we do, is what we call a successful action audit. We try to find everything that was successful that they were doing, that they’re not doing today. And we try to repeat those successful actions.
You’d be quite surprised and pleasantly happy, once you do this yourself, of how well this simple thing works. There is a high probability that when we repeat a successful action, it will bring success under new circumstances. It works for the majority of the time, quite a simple strategy.
Strategy 3 – Audit The Entire System
The cool document I gave out to my students. It’s called the “If This, Then That” document. It’s like all these different digital marketing situations for when things are happening, like what to do based on those things happening. I’ll give you an example of one of those on that specific sheet there. It’s for when you have a lot of people going through the funnel, but you’re not getting a lot of conversions, this is what you should do.
As a good marketer, you wanna be able to audit all steps of the funnel. You don’t just wanna rely on the ad data exclusively. You don’t just wanna rely on the funnel data exclusively. You wanna look at it like the system it is, you know. If this bottom base here wasn’t full of water, there’d be no water up here. And therefore be no water coming out of the fountain to drip back down and cycle through. If one of these things is off, I’m not gonna get the desired result of the system. It’s the same thing in marketing. If I’m trying to produce a result, and I’m not getting that result, here we go the overflow.
Look, if I’m trying to get a result, and I’m not getting that result, I’ve got to look at the system entirely for what it is. That means I’ve got to start with the ads. You know, what’s my click-through rate? A good click-through rate on ads, if you’re getting above 2%, you know, that’s pretty good. It’s not great, but it’s pretty good. Above 5% is typically what you wanna strive for. But if you’ve got something at a 2% click-through, you know, that’s good. It’s not great, but it’s good. Above 5% is great. Anything below 2%, you should be rotating out your ad creatives every 72 hours until you get above a 2% click-through rate on those creatives that have been launched.
Simple. Now let’s say you’re getting people to the funnel, but you’re not getting a lot of people to go from step one to step two, whatever those steps might be for you. It’s simple. You got to focus your attention as the marketer on the step that is constrained. We wanna find the bottleneck in the funnel is what that’s called. I guess we’ll sit down on the front row and just kinda like chill. All right, so look, to be clear, like as a marketer, my focus is on the entirety of the funnel. I wanna find the bottleneck in the funnel. Very commonly, when we come in and start working with businesses, we’ll find that there is a big constraint in one particular step within all their funnels that they’re running traffic to.
So as marketers, one huge thing that always gets more customers and always increases revenue, is focusing our attention and their team’s attention on the area that needs improvement. We don’t wanna just come in and leave a bottleneck in place, because that means all the traffic that we send is just gonna get stuck right there.
That step could be anywhere in the process. It could even be after people buy, and not a lot of people are buying the upsell. Your attention has to shift throughout the entire funnel process, from ads to even the ascension itself within that funnel in order to have the highest probability of getting more customers by focusing your attention on a specific step that needs it most.
Anyway, these were three little tips, basicknowledge.co very simple tips, but some good strategies that you can implement to get more customers, increase revenue. There’s tons of other stuff, like, I like to say, when I talk to a client, there is an unlimited amount of digital actions that make revenue.
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