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Over the years making a living online I still haven't quite mastered the art of consistent monthly profit. Unlocking those hidden pockets of profits had to be done as finding new winning ideas felt almost impossible, particularly when I needed to make money fast.
No doubt you would have experienced a run of quiet months, where no matter what you were launching nothing would quite hit, or at the very least become profitable. It was in one of those dry spells that I needed to smarten up, look within and really think about where it was I could make money.
I am going to share with you a few tips that I have used to bring life back to my cashflow.
Unlocking Those Hidden Pockets of Profit
Some of the items on this list may be face in palm worthy however make sure you have everything on the list checked within your business for consistent day to day profits.
Retargeting is a common theme through Storehacks for very good reason. It makes money, it makes a lot of money. As marketers we tend to focus a lot of driving front end traffic and lack the required effort to mop up the backend sales.
Want to know exactly how good retargeting can be? Check out How to Unlock $88,475 Off $19,831.22 with Facebook Ads, if you don't want to spend the time doing it yourself then you definitely need to be using Shoelace Retargeting. Have time to do both? Then I would highly recommend it.
When looking at your retargeting make sure to keep your ads fresh, smaller audiences focused on varying lengths of time since last visit works wonders. As does retargeting past customers, customers who have purchased more than once or niche based.
It will also pay to do different styles of ads from Post Engagement to Purchase Conversion ads.
Emails – The Money's in the List
Ever heard that saying? Well Jason K Williamson can attest that, for the very reason he has built a very successful agency off the back of Email Marketing. Putting effort into your auto responders, customer win-backs, list nurturing and special offer emails will pay HUGE dividends.
When the months go quiet your list can still remain highly active until it's worth reinvesting into paid advertising.
Focus on Your Niches with New Products/Designs
In stead of trying to crack new niches, launch products to the niches you know. Once you have found a certain group to be responsive to your offers it is best to keep rewarding them with the products you offer.
I have tried for years to crack some new niches without any luck. I only do this when I am scaling out proven winners to see if this niche will open for me, however time and again they have battered me into submission for even trying.
I have never been able to get into the gun niche. I don't even try anymore.
A niche I had been trying for a similar length of time was Nurses. It eventually did open for me and allowed me to sell hundreds of thousands of $ worth of products.
It went from a niche that I believe to be hugely oversaturated with POD products to be my most successful.
The reason I share these 2 examples is they were both unproven, and for me to enter into them I needed to be making money in the niches I already knew. Stick to the ones that make your bread and butter, and when they humming nicely then try scaling sideways into other pastures.
People have congregated in groups since Eve deceived Adam, in churches, in cults, around fires singing Kum ba yah. We are naturally social creatures and when you step into the solo-preneur life it is important to built out a supportive network.
Whether you are a seasoned veteran or a noob everyone has something they can give and often it is just time. If you are a noob, reach out to a veteran and offer to help them do something, offer them a bottle of wine, a coffee and expect nothing in return.
When you reach out in authenticity willing to help people often feel obliged to repay the favour. Be kind, be humble and be as helpful as you can. Believe you have something to offer and the battle is half won.
Once you have a network or someone in mind plan out ways that you can both help each other. You both may have a common niche with two different email lists, you might have facebook audiences or pixels you can share, you might be able to do some kind of affiliate deal.
The reason this blog will become the most successful in the industry is because everyone that contributes has something of value to offer. There are experts with huge lists of entrepreneurs who are willing to share massive value in order to access the followers of other experts.
We all share with our groups, our lists and our followers.
The only way that this could have been achieved is by being authentic in networking (for lack of a better word).
While the tough times suck, they certainly get you thinking and can show you exactly how motivated and determined you are to achieve your success. We need to constantly remind ourselves of why it is we are doing what we do by setting goals and rewarding ourselves when we achieve them.
If you have items to add to this list, please comment with them below! I would love to hear them!