Marketing expert Jay Abraham points out that there are 3 ways to grow any business: sell to more customers, increase the dollar value of each transaction, and increase the frequency of customer purchases. As I reviewed my latest Adwords stats I realized his advice could be applied to pay per click marketing.
1) Sell to more Customers
- Optimize Ad Position (Quality Score, Keyword Bid, Keyword Research)
- Increase Click Through Rate (Specific, Targeted, Enticing Ad Copy)
- Optimize Landing Page Conversions (Split Test & Tweak)
2) Increase the $ Value of each Transaction
- Choose Higher Margin Products/Industry
- Promote Multiple Offers
- Upsell
3) Increase the Frequency of Customer Purchases
I don’t know the statistics of capturing repeat buyers through PPC marketing but I’m guessing they’re pretty low. Once someone clicks through to your landing page, the best way to increase your chances of getting a recurring sale from them is to capture an email lead with a tool like Aweber. Learn the optimal ways to build a relationship with your leads and offer them products they want.
Business Growth
As Jay points out, if you can improve one of these factors you can grow your business in a linear fasion, improve a combination of them and you can grow it exponentially. Of course in PPC marketing each person landing on your sales page costs you money and you want to at least cover the cost of the click by making an affiliate sale. If you can find a way to make the sale and then upsell or capture a lead without effecting your conversions, you could potentially increase your earnings exponentially.
What I’m learning is that the trick to finding the method that works best is to measure and then test like crazy. Thanks to Jay for pointing out the business theory, now we just have to figure out how to apply it!