Part 3 - The Only Ways To Grow Your Business

Happy Tuesday Moementum fam!

What a crazy week.

Between travels and business, I’ve been dialing back into the regular schedule, sleeping by 10, up by 6, you know the whole successful entrepreneur schedule thing.

In my last few emails, I’ve been talking about the idea of growth and understanding what levers to pull as a business owner in order to grow, consider this email the last part of the series.

Basically, it’s the simplest way to take your business to the next level, and I concluded that there are only 3 ways:

In layman’s terms, I'm using this newsletter as a journal to help me map out how to increase time, money, and people in my business.

Let’s get into it!

How To Grow Your Business — PT 3

The idea of maximizing volume and efficiency.

Funny enough, this is actually the simplest lever of the three.

Think about it this way:

Take your current average order value (AOV), and your current conversion rate…

What would happen if you increased both of those metrics?

Imagine being able to increase both of those metrics without having to increase your ad spend, create more ads, or hire any new people…

Your revenue in the business could double.

That’s the focus here.

It’s not necessarily about hiring more or producing more…

It’s about maximizing and optimizing what you already have.

So how can we go about doing that?

1. Upsells

Adding upsells and cross-sells into your purchase flow is the very first thing you should be doing.

Upsells

Upsells encourage your customers to purchase more of your products for irresistible discounts right after they purchase from you.

Here’s an example of one we offer at LimitlessX, this pic right here converts at 18% and brings in plenty of extra cash every day.

Do with the information as you wish :)

Optimizing Your Customer Journeys

CRO is all about making small changes to your website that can lead to significant increases in conversions.

Take a look at all of your landing pages and perform a simple audit by asking the following questions:

What type of content is missing here?

And what type of copy can be improved in order for me to convert more traffic on my website?

In addition to these questions, here are a few strategies to consider:

1. A/B Testing: Experiment with different headlines, images, and CTAs to see which versions lead to more conversions.

2. Simplified Checkout Process: Reduce the number of steps in your checkout process. The easier it is to buy, the higher your conversion rate will be.

3. Mobile Optimization: Make sure your website is fully optimized for mobile. Most people shop on their phones nowadays, so mobile optimization is crucial.

4. Customer Reviews and Testimonials: Showing reviews and testimonials builds trust and encourages more of your visitors to convert into customers.

Here’s a full Customer Journey breakdown of 3 Multi-Million dollar brands that you can watch and learn from. (Gonna need to make an account to access)

Don’t underestimate how big of a difference these small changes can make.

If you increase your AOV from $50 to $60, and you have 10,000 customers, that’s an extra $100,000 in revenue.

Similarly, improving your conversion rate even by just 1% can lead to a massive increase in sales.

If your website has a 2% conversion rate and 10,000 visitors, that’s 200 sales.

Increase the conversion rate to 3%, and you’ll see 300 sales – a 50% increase in revenue.

Great companies are continuously testing new offers and new ways of optimizing their business.

Start by analyzing your current sales process and identifying opportunities for upselling and optimizing…

Especially as Black Friday is nearing.

Small changes can lead to big results.

Keep your eye out for the next newsletter rollout. I’ll be covering ways to prepare for BFCM in Q4 🤙

Till then,

Crush your week, and keep the Moe-mentum rolling!

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