Whether you are running an ecommerce business or a blog, at the bottom line, you are trying to make money. While different companies have different business and revenue models, they have one thing in common: If they run on the internet, they rely on people finding the website online and doing some actions on it.
As a web entrepreneur, finding ways to increase your traffic and revenue is the only way your business will survive. Here, we share with you 3 powerful ways you can increase your online revenue.
1. Increase Online Traffic
This is a no-brainer. For web businesses, traffic is everything. If you want to increase your revenues, you must increase the amount of quality traffic coming to your site. Here are some practical strategies you can employ to achieve this:
- Social media marketing: Social media has billions of users hungry for fresh content daily. Build loyal communities on these platforms and they will send you a steady supply of referral traffic.
- Advertise: Good old advertising is still as effective today as it has been in the past. Put up some dollars to drive paid traffic to your site. Only be careful to track your User Acquisition Costs.
- Content marketing: Focus on creating quality content across your web properties. As search engines prioritize such content, they will bump up your website in search results, bringing you more traffic.
2. Market Through SEO
Search Engine Optimization can be a powerful means for boosting your online revenue if implemented well. While most people think they understand SEO, professionals like Smart Street Media SEO will tell you that SEO is as complex a science as any other marketing tactic. To begin, take time to understand what Google is saying about SEO currently.
Also try to anticipate the direction SEO will take over the next couple of years. After this, while doing your keyword research, focus on long-tail local keywords that you can easily rank for. Be warned, however, that done poorly, SEO can backfire and result in a demotion of your website in search results.
3. Syndicate Content with Influencers
Influencers drive billions in sales for small and large brands globally. One need only visit Instagram to see how influencers are using the platform to grow their personal brands and market other brands. You too can benefit from this trend.
To start, look for influencers with a strong following on social media. This is in the geographic area you want to market your product. Keep in mind that just having followers does not qualify one as an influencer. When vetting them, look for community engagement and level of influence.
If the person has tens of thousands of followers but zero engagement, pass. Next, approach them to syndicate your content. Be clear about what you expect of them and what constitutes a successful campaign.
While increased traffic can result in more revenue, it is important to note that converting that traffic into paying customers is of higher importance. Once you implement these tactics, focus on conversion rate optimization next.