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.
I created this revenue model spreadsheet for marketers to plan the 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 approaches, as shown below, it shows why fixed fees and CPM models tend to be preferred by publishers.
It also shows that you need substantial traffic to make a lot of money through advertising. At a CPM Of £10 with 2 ad units on the…
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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How do you know who isn't converting and how can you make the most of the data to bring them back to your site?
Have you ever looked at your website analytics in real-time and watched as people entered the site? To your excitement, some of them filled out a form and converted into a lead. I have, and it’s awesome seeing the 5-6% of people that make it through your website funnel pop out the other end.
But what about the 94-95% of people who don’t convert? Most likely you’ve got a remarketing campaign setup, which is bringing some of them back. But is there anything else you can do?
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AWA digital helped Xero Shoes increase conversions and reduce return rates by split-testing sizing guide copy
Minimalist footwear company Xero Shoes came to conversion rate optimisation (CRO) agency AWA digital wanting to increase the conversion rate from their e-commerce website, which was already performing well. Using a data-driven CRO methodology that has evolved over 9 years (see figure below), AWA analysed over a million data points, cross-referencing findings to form test ideas.
Through surveys, live usability testing, and quantitative data analysis, it became clear that one of the main concerns for users was finding the correct shoe size.
While sizing is a common concern with apparel and shoe companies, Xero Shoes presented a unique opportunity as their sizing process had to accommodate the innovative minimalist footwear designs…
Whether you’re new to Conversion Rate Optimization or a seasoned pro, you need a solid CRO programme to take your digital marketing career to the next level
Done a lot of split or multivariate tests, or various other CRO activities, but not achieving the quantum conversion lifts you’d hoped for? If so, you need to read SmartInsights’ new and improved Conversion Rate Optimization (CRO) Programme Briefing!
While still providing foundational advice on these topics:
Creating a data driven organization
Estimating the ROI of your CRO projects
Using the latest and greatest customer research tools
Incorporating both big tests and smaller optimizations into your systematic testing
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Our updated CRO…