Action steps that you can take, RIGHT NOW, to minimize the impact of the covid19 crisis.
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Is your business financially affected by the coronavirus outbreak?
Are you back against the robe trying to find a quick and easy way to get some more cash?
Today I am going to reveal 7 things you can do RIGHT NOW (I insist on the right now) to start generating more in your business.
These 7 action steps don't require any heavy lifting, product creation, or anything of the sort…
However, they can help you boost your revenue considerably now that you use it the most.
Disclaimer: if you tune in to today's episode I FORBID YOU to leave this episode without taking action!
Do we have a deal? good!
Here is one of my favorite quotes:
“If hard work is the key to success, most people would rather pick the lock.”
– Claude McDonald
Online Entrepreneur & free spirit:
Proud Owner Of The Martin Ebongue Blog
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International Speaker | Podcaster | Free Spirit
Freedom Is A Choice: So choose wisely...
Welcome to the Freedom By Choice Podcast with your one and only hoste Martin. This podcast is reserved for freedom aficionados and entrepreneurs looking to create the lifestyle of their dreams.
In this podcast you will find all the support and answers you need to start, grow and scale a business that gives you the freedom you deserve.
I have compressed years of trials and errors, into easy to consume episodes, to take you from where you are now, to where you want to be.
So I wanted to help a lot of you guys. If you're going through a rough patch right now with the coronavirus and the economy has stopped and everything and you're out of options, right?
So you have some products and services or something, and you need some money to come in, but you don't necessarily know. Oh, man. You know, they already bought my product. What else can I give them? I need to create something else completely and all that kind of stuff. I need some money to come in.
If you want to be able to make more revenue, there are a few things that you can work on. So I'm just going to kind of like list them.
OK, so the first one that everybody will think about is the traffic. Oh man, I need more people. I don't have enough people. So you need more traffic. But right now you're like, oh man, traffic is expensive. I don't have money. I don't know what's going to happen. I don't want to put money in traffic. And to be honest, traffic is the worst option that you could go for if you're trying to make more.
Then there’s the second option, which is either to have more people coming in or to convert people better. If you want to increase your revenue, first you need to work on the conversion. So that's one angle is if you get one hundred people on your page instead of two people, you’ll increase your revenue just like that, just by making sure that more people buy. So that means you don't necessarily need more traffic there.
The other angle that you can use is the average order value. Let's say that generally speaking, people buy a product that's ten bucks from you and you sell, I don't know, like a hundred of them. So that's a thousand bucks.
But what if now instead of paying ten bucks, they pay 15 bucks on average. So with those hundred sales, you're going to make one point five thousand and you just increase your revenue by 50 percent just like that, just because people are spending more.
And there's another angle that you can work on is to make sure that people buy more often from you. OK, so let's say people only buy once and then that's it. You never see them. Well, what if on average people bought one and a half times? I mean on average. Some people will buy, some people won’t.
But anyway, what matters is that at the end of the day, you will be able to make more money. And we're not talking about traffic or anything. Right?
You don't need more people. You just need to convert those people better. OK, so I just wanted to kind of set the stage.
But my problem is how do I actually increase the average order value? So unless I increase my price, I don't have any other products or something. And then obviously if I don't have any other products, how do I actually get people to buy more from me?
I wanted to help you out because there are some very easy and quick ways for you to be able to leverage this very easily without having to reinvent the wheel or spend six months working on something. You will be able if you take action on the information I'm going to give you here, to be able to start making more and get people to buy more often from you.
Action steps that you can take, RIGHT NOW, to minimize the impact of the covid19 crisis
I'm going to give you a few options of products that you can create right now.
For example, let's say you're selling a product, that someone asks you for let's say a website or something or graphic design, I don't know. Yeah, I need a logo.
OK and I say, yep, well, delivery is usually like three days, but if you pay me extra, pay me 20 bucks, I can give it to you tomorrow. OK, so some people, they don't want to wait. I'm one of those people I will pay extra to get it.
And sometimes it's not like I actually need it the next day. Sometimes I think I've paid a necessity to get it when I wasn't even ready for when the thing was there. But still, some people will be more than happy to pay you extra if you do it faster.
OK, so this is another product there, the premium super delivery. How complicated is it for you to say, look, you know, if you buy now and if you pay 15 bucks, then I will send it to you super-fast.
Now there are other things like for example VIP treatment. Like when you go to a nightclub or something? What do these people do? They skip the freaking line. They skip the line while you're in the cold and stuff.
So if there is something like this in in your business, so there is an application, for example. Oh, it's an application process. Well, if you pay X or if you do this, then you can jump the queue.
So look at your products. Is there something that you can basically add to the product to take it to another level? Is there something like this that you can do?
So again, do you need more traffic for this? No, you don't. And this could help you cash in a little bit more money. OK, so if it's possible for you to implement that in your business, go ahead, implement it now!