7 Ways To Increase The Revenue Of Your Home Business

There are really 7 ways to increase the revenue of your business if you really think about it, and this is the post you would want to come back to again to brainstorm how you can produce more profits and make more money. I learned this from Brendon Burchard who is one of the top online entrepreneurs in the world. 

Ultimately making more money boils down to 2 things: 

  1. Provide more VALUE – serve your people more, offer more products and services and deliver on those, have more back end offers, increase customer value. 
  2. SCALE your business – have more customers that you are serving. 

So always ask yourself how you can provide more value to my customers, and how can I bring more customers in the first place. 

But let’s break it down even further, how you can increase your revenue in your business: 

Way #1 – Get More Leads 

Leads are the lifeblood of your business. What can you do to have more people coming into your marketing funnels? How can you attract more prospects and more customers? 

I’ll tell you the best way to do it is to PUT UP FREE VALUE in the marketplace and then offer them MORE free value when they subscribe to your email list. 

After you added tremendous value for free and won people’s trust, increased your good will, and positioned yourself strategically with your story, credibility, expertise then you can make a strategic offer after that and people will buy. 

If your free stuff is good, you can say hey if you liked this free stuff I have this that will take it to the next level and allow you to apply what you learned or make it all easier, faster, cheaper etc. 

You’ve gotta COLLECT their name and email and then follow up with your leads. 

If people come to your websites and you are not capturing their information, you are leaving a ton of money on the table because all the money is made in a good follow up. 

So to get more leads you need to

  1. INCREASE YOUR TRAFFIC coming in
  2. Create an awesome LEAD MAGNET to attract those leads – a free giveaway, video, PDF report, something that your target audience would really want.
  3. Increase the CONVERSIONS on the capture page
  4. Put up VALUABLE CONTENT consistently to attract people to your capture page and lead magnet

 Remember your email list is your retirement fund, it’s your most precious asset online. 

You can ask well Vitaliy how do I put together a capture page and create a lead magnet if I don’t have results yet? Well you can definitely use MLSP capture pages to generate leads because they already designed for high conversions and attract internet marketers and network marketers and home business owners and deliver high quality value. 

Then after you get results and learn some skills you can design your own capture pages. By the way you will learn how to increase traffic and generate more leads with MLSP, they have thousands of hours worth of training on any topic imaginable to increase your leads and make more sales, so highly recommend you plug in. 

Way #2 – Increase Your Conversions 

The second way is to increase revenue is to increase your conversions. 

Same amount leads coming in, but now you are having 5 customers out of 100 leads instead of 2 customers out of 100 leads. 

What can you do to increase your conversions? 

  1. Tweak your customer experience, your sales funnel 
  2. Change your headline, your copy, the look of the pages 
  3. Add new bonuses 
  4. Improve your email follow up 

Way #3 – Increase The Amount Of Sales To Buyers 

The third way to increase your revenue is to take care of your buyers better. 

That’s where the concept of a value ladder that I learned from Russell Brunson comes into play. 

First you are offering a low ticket product that adds tremendous value, let’s say $17, or $97 or $150. Then what else can you offer that provides even more value and at a higher price? 

Your buyer is your most VALUABLE customer. That’s why sometimes it makes sense to pay $200 to acquire one customer that pays $100 initially because you know that the average customer value is $700, so you are making profits on the back end, with the follow up and relationships that you build with your customer. 

It’s your job to sell more stuff to your customers and take care of them better, something of course that is congruent and help them solve their problems on a bigger level. 

Do you have list segmentation to separate the buyers from non buyers?

What can you do to make them feel special, to make them feel like they are part of something big, to demonstrate that they have behind the scenes information.

I have a customer that brought $10K in profits to my business, just 1 customer, because he bought a lot from what I’m offering and referred more people to it.
 
What can you offer more to people at higher prices? Do you have a funnel in place? If not then I suggest that you get a system like this where you can create over $3K in profits from one customer. It’s a network marketing company and you can create affiliate at the same time (Way #7 to increase revenue)

Way #4 – Increase The Frequency Of Payment Received

The fourth way is to put in place recurring billing, continuity revenue, subscription revenue. This is when your customer will buy once and then will be billed every month a certain amount. 
 
This makes part of your business revenue predictable. It makes so much easier to grow your business because you don’t need to sell to the customer again and again, you just need to provide value continuously or refer people to a membership site that provides value continuously. 
 
For example I’ve made over $34,725 from referring people to MLSP because I get at least $100 commissions every single month from every customer that I refer to this system and people LOVE it because there is so much value there, fresh new lead generation training every week, capture pages, blog set up, funnel creator, CRM, community, everything under one roof. 

Way #5 – Charge Higher Prices 

So the fifth way is to just increase the prices that you are charging. Now if you are in affiliate marketing than you can’t really manipulate the price. 

But if you have your own products or you are doing coaching in your business then you can increase the price of what you are charging for coaching services and for your own products. 

Now the price itself is really based on the VALUE that you provide. 

To charge higher prices you need to 

  1. Improve your branding and positioning in the marketplace
  2. Provide more distinction to what you are offering 
  3. Provide more in depth coaching and training 
  4. Produce bigger results 
  5. Provide more value in the marketplace

Way #6 – Offering More Affiliate Products 

So if all you are doing is affiliate marketing then just offer more affiliate products for your customers to buy. 
 
If you are doing your own thing, then always think about what other tools, programs, courses, affiliate products you can offer to your customers that you are personally using yourself and recommend to them as well. 
 
For example when someone becomes a member of MLSP then there are 40+ specialized products people can buy to increase their skill set, like video marketing, copywriting, sponsoring, lead generation, blogging, etc. 

Way #7 – Recruit Affiliates 

So finally what you can do is to have more affiliates, other people who are promoting your stuff and you give a % of your sales. 

Let’s say you have a product that sells for $197. Now instead of you doing all the heavy lifting of marketing and promotion, you also have a ton of other people promoting your product and you get the customers for free! How cool is that. You give 50% and have $100 left for you AND a customer that you can offer more things to him. 

Now if you don’t have your own information product, then NETWORK MARKETING works on the same principle! You sponsor people into your business and then those people who you sponsored they become affiliates and they start selling and sponsoring people and YOU get a % of their sales! 

For example I personally sponsored 130 people into my network marketing business but my overall team is over 200+ people and I get % of each of the sales. Today I woke up and got $148.5 in affiliate commissions because somewhere on my team down the line bought a product and I got a % of the sale, how cool is that!? 🙂 

Hope you enjoyed this post and you will come back to it to brainstorm how you can increase the revenue of your business! 

 

 

 

 

 

 

 

Vitaliy Dubinin’s Blog

Skype: vdubinin11

Email: profitwithvitaliy@gmail.com

Have any questions? Connect with me on Facebook Here

“I help Internet Marketers Generate More Leads, Produce More Profits & Build A 6-Figure Business From Home!”

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P.S. Learn How A Dead Broke Burned Out Dad Went From $10K in DEBT with a 9-5 Soul-Crushing Job to Earning Over $12,087.50 Per Month Online – Plus Total Job Freedom – in Just 5 Months. ==> Click Here

About The Author

Vitaliy Dubinin

Vitaliy Dubinin is inspiring and empowering thousands of regular people to leverage the Internet to build a 6-figure income and win their FREEDOM in life. Vitaliy is an entrepreneur, mentor, father and speaker living in Israel with 2 kids. He is traveling 5-7 times a year all over the world and his vision is to FREE 1,000 people per year to live life on their terms. In his free time Vitaliy loves to play table tennis, chess and have with his family.

23 Comments

  • Aurore Jones

    January 20, 2016

    Love this post, very thorough, over delivered or WHAT? Love #2 and 5

  • Edna Keep

    January 7, 2016

    Great tips! This post was very informative and in-depth! Thank you!

  • Lynette Bledsoe

    January 7, 2016

    Wow Vitaliy you definitely shared some great tips, wished I would of seen this when I first got started in network marketing 17 years ago!! Great Stuff!!!

    • Vitaliy Dubinin

      January 10, 2016

      Awesome Lynette absolutely this is something I wish I knew 7 years ago as well!

  • Jelena Ostrovska

    January 7, 2016

    AWESOME training on how to increase revenue of a home business Vitaliy! You always over-deliver with your posts!!

  • Adewale Adebusoye

    January 7, 2016

    The value in the post is so awesome, I have had to bookmark it! You rock my friend! Thanks for sharing!

    • Vitaliy Dubinin

      January 10, 2016

      Thank you Adewale you rock my friend too!

  • Kenny Santos

    January 6, 2016

    Great post Vitaliy. Who wouldn’t say no to making more money in business? Thank you for sharing.

  • Lynda Kenny

    January 6, 2016

    Great post covering so many different angles to growing your business Vitaliy.
    You always give such good value and your post should be bookmarked for future reference.
    Thanks for sharing

  • Danny Yoon

    January 6, 2016

    These are definitely great ways to start increasing your revenue income streams when it comes to building a home based business!

  • Justin Barclay

    January 6, 2016

    So many different angles. I really enjoyed this. Cheers Vitaliy!

  • Ron Deering

    January 6, 2016

    Great post Vitaliy…. always with the great value and content… love your videos and all the energy.. you rock my friend..

    • Vitaliy Dubinin

      January 10, 2016

      thank you Ron! Appreciate it, you rock too!

  • Julie Syl Kalungi

    January 6, 2016

    Wohoo packed full of juicy morsels on how to increase the revenue of a home business! Thank you Vitaliy for the awesome value you put out

  • Sheena Yap Chan

    January 6, 2016

    love the many ways to increase your revenue