There isn't any question that going into business is one of the most challenging careers in existence. When you run an online business, it's more so, no matter if you were one of the first in the digital frontier two decades ago.
Even then, you've likely seen continual peaks and valleys as you face more competition than you ever thought could occur.
Perhaps you've moved to WordPress in recent years to save yourself money in managing your business website. Despite their excellent tools, the extreme competition from other businesses has probably affected you in more ways than one.
Your biggest worry is obviously cash flow and keeping it maintained so you don't fall into a trap where you can't pay your bills. This could very well happen if the services or products you offer online only sell seasonally lately, or you face long dry stretches due to competitors.
Here's how to implement recurring revenue in your WordPress website to give you peace of mind about keeping your head above water. You can make these happen through your WordPress web designer, or a digital marketer.
Adding Advertising Through Pay-Per-Click
This is the most common way to add a continual revenue stream to your web business. Your web design or digital marketing team can help you set up a PPC (or pay-per-click) ad system to help you get away from traditional advertising.
No doubt you've realised advertising in print and on TV is becoming far too expensive, hence removing any extra cash you have on hand.
Having monthly PPC support is a good way to generate some revenue, though it's always vital to make sure these ads aren't obtrusive. Your web design team can help you in ad placement and making sure they're relevant to the theme of your business.
Taking SEO Seriously
Maybe you're still perplexed over SEO and how it helps get you to the top of search engines. It's really not overly complicated, though a quality web design team optimises your site for SEO so you'll get easier found by those doing national or local online searches.
Your designer team checks for bad internal linking, improper title tags, proper keyword use, and image optimisation as just starters.
The higher you can place on places like Google, the more apt you'll continue to get business and help rescue your revenue.
Creating High-Quality Content
Content marketing sometimes gets overlooked in how it can generate revenue. But it all comes down to creating quality content as a form of inbound marketing. When you attract people to you with valuable and exclusive content, you have stronger assurance you'll generate more interest in your products and services.
It sometimes means having to hire a team to create content for you. Regardless, curating content part of the time on your blog works reciprocally with your competitors.
Figuring the Lifetime Value of Your Customers
By calculating how much your existing customers are really worth, you'll be able to tweak your marketing to target what consumers really want. You can calculate lifetime value of customers by first splitting recurring customers from those who do one-off purchases.
Then figure the average recurring purchase per customer, their purchases per year, plus the average revenue per customer.
The above should give you a good estimated value on the customers who remain loyal. Cater to them, and revenue will start flowing in again.
Keeping Services Going Perpetually
Any services your business provides may not have enough there to sustain throughout the year. It's time to think about different ways you can package your services so customers will keep coming back to you.
Try to think about multiple services you could provide, including bundles for more comprehensiveness. Adding extras and subscriptions can also bring a steadier cash flow when you expect significant slowdowns until the holiday season.
Contact us at Pixel Fish where we can help your WordPress business with superior web design and digital marketing expertise.
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