Increase Revenue 100% Without Getting More Traffic – Possible?

Last week I wrote about the maths behind how to triple online sales. I thought I would follow it up with information on how to increase revenue over 100% without increasing traffic to your website.

Now this is sounding like one of those ‘make millions over night’ style articles, but it isn’t, here is the maths.

Here Is An Example Of Figures
– You currently get 1,200 unique customers per year
– The average total checkout value is £20
– The average unique customer purchases from you 3 times during the year
– That would mean 3,600 transactions at £20 each generating a total of £64,000

Here Is The Maths
– You increase your conversion rate by 30%
– You increase average spend by 20%
– You increase the number of times people purchase by 30%

Your New Figures Would Read
– 1,560 unique customers
– Average total checkout value of £24
– Average customer purchases 4 times per year
– That would mean 6,240 transactions at £24 each generating £149,760

So as you can see the figure has gone from £64,000 revenue to £149,760, an increase in revenue of 134%.

How you go about achieving this is obviously a big subject and it would require a good effort to achieve those figures. But having said that even increasing your conversion rate by 5%, average spend by 5% and number of times people purchase by 5% would make a worthwhile difference.

I’m going to carry on this theme in next Mondays article and focus on how to increase conversion rates.