Increasing Traffic, Subscribers & Customers To Boost Your Bottom Line

To grow your income, you need more customers. That in turn means you need more people to sign up for your list. Where do these new subscribers come from?  You get them by increasing the traffic to your site.

vehicles on road

Some of the things you want to do and track then are:

1) Get more traffic from various sources. This should always be a priority and something you work on regularly.  Track your growth as you move along and keep an eye out for fresh new ideas to boost your traffic.

2) Your next focus should be getting more subscribers. As you start to get more traffic, your list will start to grow, but don’t stop there. Tweak your opt in-forms to increase conversion. Create a new lead magnet to get the attention of a different sub-group of your target audience. Set up a few dedicated opt-in pages and start driving traffic to them. Do what you can to continually grow your list and pick up speed in the process.

3) The third piece of the puzzle and where things get real interesting is turning those subscribers into customers. You want them to spend money with you either by buying your products and services, or through your affiliate links. Offer more products. Raise your prices. Find more attractive offers you can promote as an affiliate. Work on your funnels. There’s a lot you can do to grow your bottom line once you have traffic and subscribers figured out.

The real power of this approach becomes apparent when you start to look at how these three things work in synergy.  By getting more and higher quality traffic, while improving your opt-in rates, and creating higher prices products with sales funnels that convert well, you can quickly make a huge difference in your bottom line.  Each of these elements alone will help, but by combining them, you will start to see great growth.

Let me illustrate this with an example. Let’s say you start out with 100 new visitors per day. 10 percent of them sign up for your mailing list, which comes out to 10 new subscribers each day. One of these people buys one of your products at $10.

Now let’s see you double your traffic. With nothing else changing, you go from making $10 per day to $20. But what if you can also improve your opt-in forms and get to a 20% conversion. You also create a few more products and each of your customers ends up spending 3 times as much as before. When we add all that up you go from making $10 per day to 40 new subscribers each day which means 4 new customers. If each of them spends $30 shopping around in your shop, you end up making $120. That’s a pretty big bump from $10 while still only requiring you to double your traffic. Pretty impressive, right?  Now…GO BE GREAT!

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You Have To Know Where You’re At Right Now To Measure Growth & Figure Out What You Should Be Working On

Are you ready to take your business to the next level and watch some amazing growth unfold over the coming months? Great. Before you start to strategize what you want to do to make that happen, it’s important to stop and look at where you’re at right now.

photo of person holding black pen

Business planning for future success is all about data. You can work most efficiently and spend your time and money most effectively if you know exactly where you are starting from. By recording data, you can start to see what’s working, what isn’t, and what trends are starting to play out. And it all starts with recording where you are right now.

Let’s take a look at some of the things you want to record.  First though, you should decide how you want to record this information. You can write it down by hand in a notebook, open up a word document to do it digitally, or use a spreadsheet. If you prefer a spreadsheet then you have the option to have it calculate additional information like weekly and monthly averages and even map it all out in graphics to help you get a clearer picture.

Traffic – To grow you need to expand your reach. That means getting more traffic, but also engaging the people that come to your site by encouraging them to click around and read more. Good things to keep track of are total visitors, unique visitors, bounce rate, and of course where the traffic is coming from.

List / Subscribers – Your next goal is always to get these people on your list. Here you want to track total number of subscribers, conversion rates for each of your opt-in forms and pages, open rates for your emails, and also unsubscribes. As you start to collect and review this data regularly, you’ll get a much better picture of your subscribers.

Customers – Subscribers are great, customers are better. Start by keeping track of how many total customers you have and how many purchases per day, week, and month. Other good numbers to look at are total lifetime value of your average customer, repeat purchases, and refund rates.

Income & Expenses – Last but not least, look at your bottom line. This is your typical accounting data. You want to keep track of your income as well as your expenses. With those two sets of numbers, you can easily calculate your overall profit. I find it helpful to look at profit for the month, but track income on a daily basis.

Yes, you can look at most of this data in various different places like Google Analytics, your shopping cart, and your autoresponder service for example, but it’s important to have it all in one place. This makes it much easier to connect the dots and see the relationships between the different sets of numbers.

Now that you have your initial data collection set up, make it a habit to update the numbers regularly so you can see what’s working, what isn’t, and how much you’re growing as you move through the coming months and years.

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Do your credit moves send the wrong signal about you? Amrita Jayakumar, NerdWallet Published 7:00 a.m. ET Aug. 23, 2019

Do your credit moves send the wrong signal about you?

Originally posted by:

Amrita Jayakumar, NerdWallet Published 7:00 a.m. ET Aug. 23, 2019

Looking to buy a vacation home to rent? It’s not always the big cities that will pull-off the most profit! Here’s more on recent findings on the best cities to rent your vacation home.

You are one in a million, but your credit score doesn’t really see you that way.
Credit scoring models aren’t tailored to understand you. They are designed to protect lenders by using millions of pieces of aggregated data to point to the most likely outcome for a particular consumer action. Credit scoring algorithms interpret some common actions as risky because in general, across many consumers, they have been shown to increase the likelihood of nonpayment.

Here are common scenarios that can hurt your score because of how scoring programs interpret them – and how to make sure your score says the right things about you.

Charging a big expense to get credit card rewards

You work hard on your score to qualify for a rewards card. Once you have it, you charge a big expense to collect a sign-up bonus or points. In the process, you use a big chunk of your credit limit.

How your score reacts and why: Your score drops because using a high portion of your credit limit is considered “risky” behavior, even if you pay off your balance every month. Scoring models assume the worst, because they don’t know if this is a one-time occurrence or the first sign of your finances falling apart. How much of your credit limit you use – both on one card and across all your cards – is a big factor affecting your score. Experts advise using less than 30% – the lower, the better.

How to send the right message: Make multiple payments in a billing cycle, says Dan Stous, a certified financial planner at Flagstone Financial Management in Lincoln, Nebraska.

Creditors report your payments to the credit bureaus once a month. Make sure your balance stays low by making payments on your card every week or so, Stous says. If you usually carry a balance, this has the added advantage of reducing how much interest you pay. (Carrying a balance does not help your score.)

Closing a card you no longer need or that has high fees
As your finances and goals change, you decide to close a credit card. Maybe you got the most out of its features and don’t want it anymore, or the annual fee isn’t worth it.
How your score reacts and why: Closing a credit account reduces your overall credit limit, automatically making your usage higher. It also lowers the average age of your accounts, which is a smaller factor in your credit score. Your score is likely to drop as a result.

How to send the right message: Call your issuer and ask if it has any free or low-fee cards, Stous says. “If they do, and if you want to switch to the free card, they can change the card product without closing the credit line. This maintains the history of the open credit line,” he says.

Missing a payment once because life got in the way
You move, change jobs, get married, lose a loved one. Paying your bill is the last thing on your mind. By the time you realize what happened, you’re hit with a late fee or a big drop in your score.

How your score reacts and why: This is a huge red flag, because while it could be that you just forgot, it also could indicate you’re in financial trouble. Paying on time is the most important factor influencing your score. However, the effect on your score depends both on how late you are and your current score.

If your payment is less than 30 days late, your score won’t suffer because payments cannot be reported late to the credit bureaus until then. “You may have to pay a late fee, but a $40 late fee is better than a hit to your credit,” Stous says.
If your payment is 30 or more days late, your score can drop by as much as 100 points, especially if you have a high score. A missed payment goes on your credit reports and stays there for up to seven years, although the effect it has on your score lessens with time.

How to send the right message: Pay the bill as soon as you realize your mistake. Then call your creditor and ask if the late fee can be waived, especially if you’ve rarely missed a payment, Stous says. If you’re more than 30 days late, ask if the creditor will also stop reporting the missed payment. Again, if you have been a good customer, they may agree to it.

If they won’t, simply continue to practice good credit habits to minimize the effect of that one missed payment. Consider setting up automatic payments so it doesn’t happen again, or set a reminder for yourself a few days before your bill is due.

MORE: What factors affect your credit score?
MORE: How to build credit
MORE: How late payments affect your score

Amrita Jayakumar is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @ajbombay.

NerdWallet is a USA TODAY content partner providing general news, commentary and coverage from around the web. Its content is produced independently of USA TODAY.
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Why Financial Coaching

I know that sometimes we get caught up in the daily grind and oftentimes don’t clearly express what we’re doing and why. It seems second nature for us so we assume others know and follow as well. For that reason I want to clearly state why I believe in Financial Coaching. Don’t worry; there isn’t an up-sale embedded within this post…this is just me clearly stating a ‘why’.

I get it…sometimes we get caught up in the daily grind and oftentimes don’t clearly express what we’re doing and why. It seems second nature for us, so we assume others know and will follow as well. For that reason I want to clearly state why I believe in Financial Coaching. Don’t worry; there isn’t an up-sale embedded within this post…this is just me clearly stating a ‘why’.
One thing that I have learned having been employed in the residential mortgage industry for 20 years now is that lots of folks make really good money. It’s their money decisions that gets them into hot water. I’ve worked in loan administrations, processing and underwriting as well as loan servicing.
The common theme? Bad money decisions.
As author and money coach; Chris Hogan has stated time and time again: America isn’t poor; it’s broke.
Lot’s of times in the residential mortgage industry we see the Borrower Explanation Letter for certain situations and it seems as though there’s someone writing the same letters for borrower and just changing the names.
For someone like me; this can be heart wrenching, overwhelming and will take a toll.
I want to see people financially healthy not so that they obtain more stuff…stuff is great…but so that they can live comfortably and without fear.
Hand-to-mouth is real in the United States; but with six and seven hundred dollar cell phones or two hundred dollar cable/internet bills it’s a wonder we can afford to pay the necessary two hundred dollar a month electricity bill.
Rather than purchase a drive around car – we have conditioned ourselves to incur higher interest rate debt to show those certainly not all that close to us that we can afford a nice envy-provoking looking vehicle. Those onlookers won’t be riding in it and certainly they won’t be assisting with the payments.
Let’s not forget about the pieces of fabric that we consider clothing. I won’t go there…that’s a whole other post and we don’t have the time.
Don’t get me wrong, enjoy life…but enjoy ALL OF YOUR LIFE.
So; the long and short of it – Why Financial Coaching?
Why not allow someone who is trustworthy to look at your spending and credit history from an unconnected purview and give you solid strategies on how to rope your lifestyle in so that when you are really ready to enjoy life (during retirement) you can do so with ease.
If it’s not me; reach out to a Financial Coach as soon as possible. Even if you don’t think that you need one; I guarantee that you could benefit from a session.