Selecting the best revenue model options for your digital business
A good revenue model is a proven technique used by digital businesses globally, from startups to global corporations, to generate income from traffic on their website, mobile apps, and via digital channels.
The 10 digital revenue model options explained in this include both ad revenue models and charging for access to a digital service including freemium revenue models where limited free access is provided with fees charged for the full service.
I created this post originally in 2010 to support a revenue model spreadsheet for site owners to forecast their revenue generation. The main parameters you need to set are the variables for each Ad Unit or Container Type (blue fields) and it works out the revenue earning (orange fields) for you!
The site ad revenue model
If you 'plug-in' some average figures for pay-for-performance-based advertising options like cost per click or cost per action…
E-commerce conversion rate and lead generation landing page stats for desktop and mobile devices for benchmarking averages across different industries
As you will know, conversion rates are often used as a KPI to review the effectiveness of e-commerce sites. Naturally, all site managers and owners want to know the benchmarks - "how do our conversion rates compare?". As consumer and business confidence falls, it's more important than ever to audit and optimize your marketing success metrics.
In this post, I have compiled different free industry sources focusing on retail e-commerce conversion. At the end of this article, we also feature an analysis of landing page lead generation conversion rates by industry sector towards the end of the post. We keep this compilation updated as new conversion data is published in 2023.
E-commerce conversion funnel
This funnel-based view of the conversion process is a useful starting point since as well as the typical average basket…
Today, tech marketers and managers advocate for IT and high tech both internally in their businesses and externally to their target markets. We've got the marketing tools and training you need.
Looking to strengthen your technology company's marketing strategy? As marketers, we are all striving to apply data and customer insights to our marketing activities. But in the IT and high tech sector, with competition at an all-time high, this approach is absolutely critical. Our tried and tested tech marketing solutions support IT and high tech marketing professionals to plan, manage, and optimize their marketing strategy, and win more customers.
Why invest in strategic marketing for your tech company?
If you haven't already got an omnichannel marketing strategy in place, now is the time to develop your marketing to compete in the competitive, growing, IT and high tech marketplace.
As McKinsey found in their UK B2B COVID-19 survey, the technology, media…
Exploring the latest medical landing page conversion rates to inform your pharma or healthcare marketing strategy
'What does good look like?' 'How do we compare?' and 'How do we get there?' are common questions when healthcare marketing strategy is concerned. With so much competition in healthcare marketing today, you need to benchmark yourself against the key metrics within your industry.
But, good benchmarking is only as useful as your marketing strategy allows it to be. Are you confident that you're applying a data-driven strategy? Are you happy with the metrics in place to inform your digital marketing optimization?
We'll delve into some recommended resources and marketing tools to help you implement your benchmarking learning and increase your healthcare customer conversion and retention.
Conversion rate benchmarking for your healthcare marketing strategy
It's useful to have conversion statistics to compare your conversion rates against if you're serious about conversion rate optimization (CRO). And with the resources and…
Depending on what business you’re in, typically anywhere from 2%-15% of your online visitors convert into customers. That means 85%-98% don’t. So, wouldn’t you like to know why?
You can, by gathering some critical customer feedback with some very affordable methods and tools. Best of all, all of these analyses can be done for less than $1000 (USD).
I call this ‘taking the pulse’ of your prospects and customers — from two angles, and using multiple methods. By two angles I mean doing both quantitative and qualitative analysis. And the methods include:
Reviewing your analytics data
Reviewing your visitor clickstream data
Gathering ‘voice of customer’ data
Running an eye-tracking study
Launching a one-question poll
Getting expert conversion review
Why so many methods? Well, your medical doctor doesn’t just check your blood pressure, then say, ‘OK, we’re done,’ and send you on your…
Video landing pages have a video embedded, illustrating the working or value of a service or product, and they can help increase conversion
Marketers are constantly working towards improving the conversion rates of their websites. With the average website conversion rate being 2.35%, there’s a huge scope to improve this and be in the top 10% of websites with a 3-5x higher conversion rate.
Only 22% of businesses are satisfied with their conversion rates. If you fall in the remaining 78% feeling that your conversion rates suck, it is high time you incorporate personalized video landing pages in your marketing strategy.
As a marketer, you can no longer afford to undermine the importance of videos in capturing, holding and retaining your audience’s attention. A case study by EyeView found that adding videos on landing pages increased conversions by 80-86%.
Here’s a guide to…
Learn how we updated and improved our key membership pages to increase conversion and improve the quality of leads with simple customer-centric copy changes
To stay ahead of the competition, you need to keep monitoring and reviewing your key sales pages - are they converting, how much is it costing per user to convert and how can you improve conversions?
At Smart Insights, we'll hold our hands up and admit our key Business Membership sales pages were due an update and so we started work on these at the beginning of the year. Here's how it went...
We had four landing pages that were designed to describe the value proposition of Business Membership and direct users to relevant pages to find out more:
The overall generic filter page that is used to capture leads who would like to learn more about the different types of Business Membership, without delving too deep into…
Discover how AWA digital defied "best practice" to drive up conversion rates for a global car rental company
Discover Cars, a fast-growing car rental comparison and booking site, came to conversion rate optimization (CRO) agency AWA digital for help with increasing the profitability of their website.
To Discover Cars, "profitability" meant an increase to both conversion rates and average revenue per session (RPS). Car rental sales are always important, but most of the RPS boost came from their highly profitable upsells, so maximizing uptake of these was key to getting the best ROI. Using their proven methodology, AWA started the deep research that defines its process before creating a roadmap of hypotheses and split tests.
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CRO is an underrepresented specialty in today’s marketing industry and because of a general lack of understanding about the field of work, it often loses out
I attend and speak at some of the best digital marketing conferences all over the world and I can count on one hand, the number of sessions I’ve seen that offered quality content about Conversion Rate Optimization (CRO). This marketing specialization always seems to fly under the radar in marketing circles.
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Yes, there are a number of great websites and resources dedicated to CRO. There are also some excellent CRO-specific conferences out there and I’ve attended most of them - but the real problem is this: The only people talking about conversion rate optimization are CRO experts at CRO conferences and CRO bloggers on CRO-specific websites.…
A call to action (CTA) is just a fancy marketing term for a button that entices the user to take a desirable action, taking them further down the conversion funnel
Have you ever signed up for an online subscription service (Netflix, Spotify, you name it) or downloaded a free resource from somewhere?
Well, your "action" was the result of an effective call to action. These seemingly straightforward buttons are an integral part of a marketer’s toolkit. They can make or break your conversion game, and be the difference between converting a lead and losing a potential client.
A well-crafted call to action is a boon for both parties.
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