Will Surren – Make Money Online Monthly

Do you know the number of leads you need to generate to reach your income goals? This may seem like a simple question, but I haven’t found a lot of folks that have the answer.

There are two things to consider regarding this question.  First, there are your expenses.  You should make sure to have an online accounting program advanced enough to help you analyze your costs and how they relate to your profitability. 

Second, you need to know how well you are able to turn your prospects into sales (conversion rate).  The more efficient you are at converting leads, the more income you will be able to make. 

Let’s take a look at the process more closely:

The first step is to determine your monthly sales goal. Let’s use $100,000 as the figure for our purposes.

The next step is to work out what your conversion rates are. In order to keep this example easy, suppose that all of your leads come from your website. 

Suppose you convert 2 and a half out of 1000 visitors into paying customers. That’s a .25% conversion rate.

Here is a formula to calculate the number of visitors your would need to meet your monthly sales goals.  To keep this example simple, we will assume every “conversion” described above will ultimately purchase from you.

(Desired Sales / Sale Price / Conversion Rate) X 100

The formula would look like this, if you want to achieve $100,000 a month in sales, you have a conversion rate of .25% and your average sales price is $20:

($100,000 / $20 / .25) X 100 = 2,000,000 visitors needed per month to achieve your sales goal.

Wow!  That is a lot of visitation!  Not to worry, there are things that can be adjusted.  You can increase the average sales price. Or, you can increase your visitors or the conversion rate.

Many begin by increasing the conversion rate. By testing various options and changes, it is possible to improve a .25% conversion to about 2%.

Take a look at the difference that makes to the number of visitors you need to achieve your goals:

($100,000 / $20 / 2) X 100 = 250,000 visitors per month to achieve your sales goal.

I could live with that change! 

By increasing your average sales price to $47, you can improve your results even more:

($100,000 / $47 / 2) X 100 = 106,383 visitors per month to achieve your sales goal. 

Everyone would rather work smarter than harder.  Hopefully these examples drive home the importance of planning the leads you will need to reach your sales goals, and testing the factors you can change to become more efficient. 

Get more small business success strategies and claim your free white paper: “7 Ways Your Stone-Age Accounting System is Stealing Money From You Every Day … And, How to Get it Back This Year”  to learn about an online accounting program that makes it simple to track your conversion rates.

Social Media websites have grown phenomenally in recent years. Millions of people use social media sites like Facebook, Twitter etc. to connect with their virtual friends and share important tit-bits of their life. Wikipedia estimates that 1. 5 billion people use social Media websites. This speaks of the enormous power of social sites in terms of its reach.

While websites like Facebook, Twitter etc. Has become a global phenomenon regional social media sites are not far behind. It would be difficult to believe but Japan occupies second place in terms of twitter community. QQ, the largest social networking site of China has more than 300 million active members who form a vibrant community.

The evolution of social network sites has transformed the communication process. It is easy to know what is Jack or Jill doing at the moment. Even celebrities have hopped the bandwagon of social media. They are actively using social sites like Twitter, Facebook to communicate with their fans. There is little doubt about the usefulness of these sites for the society. These social sites help users to connect with their friends, some of whom meet after 15 years. Courtesy, social sites like Facebook, Linked-In etc.

Social networking sites have become integral part of social life. It does not matter if a person is a customer, producer or a marketer. If he is not using social site he is risking losing his business to his competitor.

The potential of social sites is unlimited. It is a goldmine waiting to be tapped. Not only it has the power to build instant brand recognition but it can be a fertile ground for acquiring highly targeted customers in shortest possible time.

Ironically, it is estimated that only 7% of marketers utilize the power of social sites. Given their enormous clout in terms of reach and viral nature, social sites have forged way ahead of traditional form of communication like e-mail. The phenomenon of social sites has just begun and it is here to stay for years to come.

Social sites have enormous power in terms of reach and audience. It has the potential to make or break a brand. These sites have changed the way people interacted with each other. It is because of these sites that the balance of power has shifted from producer to consumer. A company who tries to sell sub-standard product can be exposed instantly on social sites. If the raw power of social sites is leveraged properly they are potential goldmine where the next rush will begin.