In the end, great visibility and traffic won’t get you very far if you’re not earning the revenue you need to keep you going. Unfortunately, too many companies focus on traffic and simply assume this will mean revenue.
While this may very well be true to a certain extent, it’s important to always keep your end goal in mind, and worrying about traffic shouldn’t be your stopping point. There are other ways to increase revenue that also need your time.
Think of it like a diet. If you’re limiting yourself to only 2,000 calories a day, why waste 200 calories on a soft drink that doesn’t do anything to fill you up or stave off your hunger? Sure, it may help to quench your thirst, but you can also quench your thirst with water, which has zero calories.
Using those 2,000 calories for food gives you a better chance of keeping hunger pains and cravings at bay, and thus, gives you another step toward your goal. Likewise, focusing your social media or SEO bullets on more direct customers should lead to a better chance of succeeding in your ultimate goal — increasing revenue.
How to Focus on Revenue Generation in All Aspects of Your Online Marketing
While traffic generation is incredibly important to this end goal, spending all of your time only focusing on traffic doesn’t always equal sales. What small companies are missing is that balance — you can do both.
Below are a few of the main aspects of online marketing and how you can change your strategy to focus on conversions and revenue generation:
Shifting Your Social Media Strategy
Let’s say you got 1,500 “likes” on a Facebook post, or you hit 15,000 Twitter followers this month. That’s great if those people all truly follow and engage with you for the right reasons. But what if they don’t?
The answer is easy: if they don’t, all you have are numbers to brag about and not necessarily a profitable business.
The problem with social media: Hitting the “like” button on Facebook is the easiest thing to do in the social media world. It requires no time commitment beyond one second of looking at the post and deciding they support the message. The person could be “liking” just the picture/image, or the message you wrote or the idea of what you are selling/promoting. If you paste a link, there is no guarantee that just because somebody “liked” the post that they also went to the link and helped drive revenue for your company. In the end, you’d be better served finding quality followers.
The Solution: If you know how to appeal to a select group of your social media audience (which you should and can learn more about here), then create customized content. That content is more likely to bring money for a product or service, so try to hone in on that group with a more focused and localized approach. If your social media message only reaches 500 people but results in 100 paying customers, that’s more valuable to your company’s bottom line than a social message that reaches 1,500 people, but only results in 50 buyers.
Connecting with loyal customers is also incredibly important. Instead of offering free things for a “like,” spend your time identifying those who have been to your website and getting them to write a review. Learn more about reviews and social media.
Optimizing Your Website
Once again, the same can be said for traffic on your site. If you’re selling a product, empty visitors and a high volume of pageviews to your site doesn’t necessarily help you. But companies are still continuing to prioritize their marketing plans to acquire the highest traffic possible. This mentality needs to shift.
The Solution: Put a focus on tweaking your landing pages so they’re perfect for your specific audience. Look at your Google Analytics and see what pages people are landing on most, and then A/B test different variations. Even moving a button or using different language can make a difference in your sales. I recommend reading this article from SEMrush to learn more about A/B testing.
In short, you should learn the precise signals necessary to close sales based on your niche. It might not be as easy as simply publishing a contest with a free gift, but it might be more meaningful in the end. Google Analytics and understanding your audience’s online buying habits and buying cycle will be crucial here.
Altering Your SEO Strategy
Choosing keywords or tags on your site or social media messages is all about trying to generate better placement in search engines, but again, this isn’t always done with revenue in mind as the end goal. Too many companies assume that getting to that number 1 position is the answer to success. But which specific page you’re ranking number 1 for matters — a lot.
The Solution: The solution here is simple. All you have to do is optimize your pages and complete your keyword research smarter. Try to drive traffic to your high-converting pages as opposed to just your blog or homepage. This means optimizing those pages for more specific SERPs. Think like your audience that’s going to convert as opposed to your audience who might just want to learn more.
For example, if I were thinking like my audience — a small business owner wanting to learn more about SEO — then I might write a blog post about how to teach yourself SEO and then try to optimize it to rank on a page with keywords like, “learn SEO” or “DIY SEO.” However, if I were thinking about revenue conversions, I would need to think about the audience that types in searches like, “the best SEO services in Chicago.” This would force me to not only improve my local presence, but try to rank my landing page for keywords like, “best SEO services.” Learn more about SEO optimization for better conversions.
In the end, this is not to say that high traffic is bad or shouldn’t be at the forefront of your mind when creating and perfecting an online marketing strategy. Traffic is great and it serves its purpose for increasing revenue, but it’s not your only play. Some of your time needs to be focusing on these other ways to increase revenue if you really want the get the most out of social media and SEO.
Ultimately, it’s OK to be concerned about the bottom line and chase money. After all, money makes the world go ‘round; and this is business.
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