Here is how to make more money in your business
This is one of the most repeated questions I get asked by business owners.
One of the most repeated questions I get asked by business owners: “Shahana, how can I get more sales on my online store?”
“I have sales coming in, but not as much as I expected. How do I get more sales and make more money?”
Well, the answer is pretty simple.
There are only 3 ways any business can make more money.
- To have more customers.
- To increase the AOV (Average Order Value)
- To increase your LVC (Lifetime Value of a customer)
Let me explain,
First off, this is the good old classic:
To have more customers!
Yup, the more customers you can get on board with your business, the more sales you generate and make more money.
More paying customers = More revenue
Simple math right?
Next up, we’ve got the AOV and LVC magic.
AOV stands for Average Order Value:
This means you want to encourage your customers to spend a bit more every time they hit that checkout button.
That is each time they place an order on your website, encourage them to add more products to their cart.
More products in the cart = higher AOV, which means more revenue generated through each order.
Next is to,
Increase the LVC or Lifetime Value of a Customer:
This is where you focus on getting your customers to keep coming back.
‘Cause loyal customers mean a steady stream of income.’
Once you gain customers you make sure they are placing orders with your business regularly. By offering products that your customer want, need, and desire. You can encourage them to purchase from your business time again and again.
So, there you have it! Remember, get more customers, boost that AOV, and keep those customers coming back for more.
Now you might have noticed for 2 and 3 to work, you need 1 – that is more customers.
So how can you get more customers for your business?
One effective way to gain access to a broader customer base is by leveraging bustling marketplaces that allow your products to reach millions of potential buyers.
Imagine the vast opportunities that lie within such platforms. If you’re interested in exploring this opportunity further, you can find more guidance on page 39 of the eBook “The Money-Making Roadmap.”
Learn how to,
- Explore different ways to generate revenue in your business even if you’re just starting out or have few products in your inventory. Page 18
- Uncover the Hidden Gems in Your Business – How to leverage your business strengths and assets. Page 10
- How to create predictable and recurring revenue in your business – Page 27
- Make money while you sleep and without selling your own products – Page 30
- Reach Millions of customers without spending heavily on ads – page 39
- Generate instant money in your business within a few hours – Page 53
- How to sell more products – page 63