As you all know, Ken’s business growth is one of those remarkable success stories. He shares how they take a website making $50 to $100 a month and in fifteen months, increase revenues to $60,000 a month by only increasing traffic 30%. Reaching down to affiliates, he talks about not knowing the value of traffic first. It was only through the affiliates and advertisers that showed them. Now ask yourself, how much is your business worth?
Listen to the podcast here:
Ping Pong Money
This episode is called Ping-pong Money sponsored by Digital Footprint. You can find the info at DigitalFootprint.net. I’m going to make a prediction. I’m going to predict that in time, this is going to be one of the top five all-time downloaded podcasts because of the content. Here’s a question. “How did we take a website making $5,200 a month and in a fifteen-month period of time, how did we possibly increase revenues to $60,000 a month over $730,000 a year by only increasing traffic by 30%? It’s called ping-ponging.
Here’s what we did. We took a website. As a matter of fact, if you want to see a five-minute case study video of the specific moves we made and how exactly we did this, go to IncomeStore.com. Click on How It Works and look for a blue ribbon about an inch and a half high tall, six to ten inches wide, depending on if you’re on a laptop or a desktop. Look for a blue ribbon and look for the four case studies and it’s the case study on the farthest right. Most of them are two minutes, but this one happens to be five minutes because we went a lot deeper and showed exactly how we did this. Check those out.Leverage every asset that you have to the greatest possible benefit. Click To Tweet
We ping-ponged the affiliates. There are five major affiliates. We had a significant amount of traffic. We had one affiliate and the top of five recommendations. Let’s just say that affiliate was paying $5 a click or something. We went to affiliate number two and said, “We noticed something. 68% of all the people clicking on these five are going to the top one even though we’re recommending all five the way we set up the copyright.” The second affiliates will tell you, “If they’re paying you $5 or $6, I’ll give you $7.” They moved up into the top spot after given a $7. We went back to the affiliate in third spot and all of a sudden, they jump to the first spot by giving us $8 and then $9, then $10, then $11 and so on because we did not listen closely. This is a Q-tip time. It means to read closely. We, as the owners of our website, did not know the value of our traffic. It was the affiliates, the advertisers that proved to us exactly what our traffic is worth.
I hope you caught that. How does this relate to you? Here’s a question. How much is your business worth? How much is your business worth to all of your vendors? Are your vendors willing to lower the price of their services to you just to keep your business for two more years? I bet you they are. How about all your suppliers? How about all your 1099 contractors? How about even some of your employees? I know it sounds crazy. In 25 years, I’ve gone to employees stating, “Things aren’t working.” However, we have a new position with a completely new title. It’s 25% less pay, but they took it enthusiastically because they thought we were going to fire them. Why not ping-pong employees? Why not ping-pong vendors against each other?
I got 20% more air time per dollar with Sirius Radio by calling them and saying, “Instead of the week to week, what if I commit to the next twelve weeks and I committed in writing with no money up front.” I go, “Can I get 25% more airtime per dollar?” They go, “We’ll give you a 20%.” I would have taken 5%. I would have taken anything. Here’s a question. How valuable is your business? How valuable is the traffic going to your blog? How valuable are the hundred people a month that go to your YouTube page? Do you even know? How will you know if you don’t test affiliates, ads or direct ads? How about ads for your own company? Here’s the deal, leverage every asset you have to its greatest possible benefit. That is good business. I hope this helps. Take care.