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Driving more revenue from your website takes a strategic approach. Focus on the metrics that impact your bottom line.
According to Michael Buzinski, author of The Rule of 26, on “The Business Storytelling Show,” there are three key website metrics that directly influence revenue. This article is largely based on our podcast episode.
- Website Traffic
- Conversion Rate
- Average Revenue Per Client
He found that by increasing each of these metrics by 26%, you can potentially double your website revenue. This is because the compounding effect of small gains in each area really adds up.
While 26% may seem like a lot for each metric, it’s actually achievable when you break it down. Let’s look at some tactics for each:
Boost Website Traffic by 26%
For most small business websites that only get 100-200 visitors per week, a 26% traffic increase equates to just 25-50 more visitors per week or 200 more per month. Completely doable!
Here are some strategies for getting more of your target audience to your site:
Create Tailored, Optimized Content
You need to create content that speaks directly to your ideal customer’s needs and interests. Generic content that could apply to anyone won’t compel your audience to click through or convert.
Do keyword research to identify the main questions and concerns your audience has that your business can help with. Then create detailed content like blog posts and guides to address those issues.
Optimizing content for SEO is also key to ranking high in search and getting found. This includes things like:
- Incorporating target keywords in titles, headers, meta descriptions, alt text, etc.
- Creating internal links between related content to build authority
Optimizing page load speed
Promote Content on Relevant Platforms
Don’t just publish content and hope people find it. You need to actively promote it on the social media platforms where your audience hangs out.
Run promotions and ads on sites like Facebook, Instagram, and LinkedIn to get content in front of your target demographic. You can target ads by location, age, interests, professional role, and more.
Join relevant groups and communities on social platforms to share content. Make sure to provide value – not just pitch your business. Build relationships with influencers in your space that may share your content.
Invest in Paid Search & Social Ads
While organic search and social reach are ideal, paid ads can supplement your strategy, especially when launching content or promotions.
Focus paid search budgets on your highest converting keywords so you don’t waste spend. Track conversion metrics to optimize ads over time.
Retarget people who have visited your site with display ads to keep your brand top of mind. Create custom audiences of your current customers for lookalike targeting also.
Optimize Local SEO
If you have a local business, you can’t ignore local SEO. Nearly 75% of people who find local businesses on Google visit or contact them within 24 hours.
Start by registering and optimizing your Google My Business listing with key information like hours, photos, services, etc.
Build citations and reviews on other sites like Yelp to improve local authority.
Publish local landing pages on your website targeting the cities and services you want to rank for.
Facilitate Social Sharing
Make it easy for visitors to share your content to expand reach. Add social sharing buttons prominently on all content pages.
Incentivize sharing by offering a discount code, free resource, or entry into a giveaway in exchange for sharing.
Share your own content across your social profiles. Encourage employees and fans to share it also. Consider paid social amplification services too.
Increase Conversion Rates by 26%
Next, it’s time to focus on getting more of your high-value site visitors to convert into leads or sales.
For sites with a 1% conversion rate, a 26% increase would bump you up to 1.26% converted. That may not seem significant, but small changes here make a big revenue difference.
Here are some tips for boosting your website conversions:
Focus on Visitor Value, Not Yours
One of the biggest mistakes companies make is focusing website content all around themselves. They blast visitors with info about awards, history, team bios, and other stuff visitors don’t care about.
Instead, craft all content around your visitor’s needs, pains, and desires. Talk directly about the outcomes and transformation they want, not you.
Read next: Defining your value preposition
Clearly Explain Your Solution
Don’t just list your services or products. Visitors need to clearly understand how you will solve their problem or deliver the results they want.
Use concise, clear language. Break down your offerings into simple steps. Use examples and case studies they can relate to.
Guide Visitors with Strong CTAs
Calls-to-action tell visitors their next step. Without clear CTAs, they may not know what you want them to do.
Craft CTAs that speak directly to what the visitor wants. For example:
- Learn how we can grow your sales
- See pricing and availability in your area
- Download our ultimate guide
Make CTAs stand out visually on the page and place them strategically throughout content.
Reduce Friction in the Process
The easier you make it for visitors to convert, the higher rates you’ll see. Look for any friction points in your conversion process and smoothe them out.
For example, minimize form fields, optimize checkout for mobile, remember customer details to auto-populate forms, allow guest checkout, etc.
Test and Optimize
Don’t just guess what CTAs, offers, designs, etc. will work best – test them. A/B testing different variables on your site identifies the most effective.
Tools like Google Optimize make it easy to test changes without any coding. Be sure to optimize based on conversion rate, not just traffic.
Increase Average Revenue Per Client 26%
The third component of the Rule of 26 is to increase the revenue from each converted customer by 26%. Here are some ideas:
Review Pricing Regularly
When’s the last time you really looked at your pricing? If it’s been over a year, there’s a good chance you’re not keeping up with inflation or market rates.
Do a competitive analysis to see where your pricing falls versus competitors. If you’re substantially lower, consider increasing it.
Prune Unprofitable Accounts
Analyze your accounts to identify these unprofitable relationships. Consider firing them or increasing prices.
Offer Higher Tiers
If your current customers love your services, offer elevated tiers or packages. For example, provide add-on options, increased service levels, premium materials, etc.
Let clients self-select based on their budget and needs.
Bundle Services
Look for ways to bundle additional services that provide more value to each customer. This increases revenue per client.
For example, an accountant could offer tax planning and wealth management services to supplement accounting.
Communicate Value
Sometimes it’s not about changing what you offer, but communicating the full value better. Make sure clients understand everything that’s included and how it benefits them.
Send thank you notes with reminders of what they gained from working with you. Ask for reviews highlighting your value.
Make Informed Revenue Decisions
The Rule of 26 provides a framework for increasing website revenue through small, measurable gains.
Rather than chasing vanity metrics, focus energy on these three wealth drivers. Monitor them closely using web analytics and sales data.
When you know exactly where your revenue stands – and the specific tactics that influence it – you make informed decisions that ultimately grow your business.