Are you running an online business or just taking advantage of a temporary money making method?
Yes, I’m talking to you Mr. Affiliate Marketer and Blogger.
Think about it.
Because answering this question today will determine whether you’ll still be making money a year or even a decade from now.
Or whether you’ll still be running in circles after wasting precious years of your life, earning a few bucks here and there, but not really getting anywhere.
The most successful online entrepreneurs don’t just make money.
They build sustainable businesses.
And they focus on growth.
Every single day.
Which is why they constantly move up and not only get richer every day but also become more independent in the process.
They don’t need to spend hours on their businesses every week.
Because instead of focusing on isolated money making methods, they build sustainable and automated online systems that keep pulling in new leads and churning out money even when they’re not around.
Affiliate Marketers: This Is For You
I read something by Jay Abraham, a leading business consultant, and it really hit me in the head.
He said there are really only 3 ways to grow any business – offline, online, affiliate marketing, blogging, e-commerce or any other business.
You can grow by increasing the number of customers
Or by increasing the average transaction value (your average sales per customer)
Or by increasing the number of transaction per customer (repeat sales)
Apply this to ANY business model and you’ll grow.
Successful affiliate marketers, bloggers, freelancers or entrepreneurs in any other business focus on these three core values.
To help you understand this better, see this illustration
Do you see what’s happening here?
Increase any of the three values in this equation and your profits increase dramatically.
For example, an increase of 33% in the number of customers, 25% in average order value, and 50% in repeat sales results in a massive 250% increase in overall sales.
Whether you’re an affiliate marketer promoting Amazon products or doing any other online business, THIS IS FOR YOU.
This is how you increase sales.
Instead of trying random money making methods, build a system that feeds these three core values in your business.
This gives you a clear target.
That’s what the top affiliate marketers are doing all the time.
They’re either generating new leads to turn them into customers, or increasing the average customer transaction value by promoting high ticket products or pitching upsells and downsells, or they’re simply increasing sales by selling you more products.
Most of the time, they’re doing all of those things together.
Which is why they’re growing all the time.
Sounds great, doesn’t it?
This is what we’ve been advocating for years on NicheHacks.
Affiliate marketing, AdSense, CPA/CPM etc. are all great ways to make money.
But alone, they’re unsustainable.
Read the entire article at NicheHacks
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