Before starting my company, I worked as a Director of Internet Marketing for a Christian business magazine. The job objective was to increase revenue on the magazine’s website.
When I started, almost all of the internet revenue was coming from subscription sales that people purchased on the magazine’s website. After spending a month tweaking the subscription pages and creating better ads, I managed to increase monthly internet revenue from about $2,000 per month to $3,000 per month. It was an improvement, but I was hardly earning my keep.
That was when I came across a completely different opportunity to increase revenue. I created a new online store, selling books, CDs and videos that were geared toward Christians in business. Then I started sending weekly email blasts promoting specials on these books and media. Suddenly revenue skyrocketed. Just three months later, I began averaging more than $15,000 per month in online sales, and the numbers continued to build from there.
I discovered that there were revenue streams that had gone completely untapped. Had we continued to focus only on the magazine subscriptions, I would have done okay, but by finding new revenue streams, I uncovered a gold mine! There was great opportunity to increase sales and more importantly profit.
You can use your company website to create sales that you never expected by finding multiple sources of revenue. Here are a few:
- Online Store – You can create an online store, selling merchandise, scheduling a quote for your service (hot prospects), etc. This can keep the sales and profits flowing into your business, even if it is a seasonal business, but people are looking for great Christmas ideas.
- Gift certificates – The internet is a great way to sell gift certificates for your company. Even non-customers can buy gift certificates that can be used, for example, in your retail store or for a free appetizer at your restaurant. Plus, you can deliver a gift certificate by email, which means no postage! This is just another gateway to increase sales for your organization.
Online Advertising & Sponsorships – Here’s a frequently overlooked revenue source. Every business in town that wants to reach a specific market that your company has a grasp of should advertise on your website. After all, these people love your product or service, and with the valuable content and specials you’ll have on your website, these folks will spend plenty of time on your website. Selling these advertising spots increase revenue above and beyond what you are selling which means more profit! I can carve out space on your website and in your email newsletters for banner ads and side bar ads that run throughout the site. You can then sell ad space to businesses and have another lucrative revenue source throughout the year.
