The Secret To Scaling Your Online Business
The hardest part of running any online business is knowing how and when to scale web traffic. For most business owners it’s a long tough battle to get consistent, profitable sales, and once they finally achieve that it’s now time to scale your sales and profits.
But what is the best way to do this?
Typically, when you ask someone how they scale the first thing they usually say is to increase ad spend budgets.
Although this is one main way to scale your campaigns; boosting the daily ad spend can have inconsistent results and can often be difficult to maintain. In time it may wear down your audience.
We’re talking about the “don’t put all your eggs in one basket” rule.
Sometimes increasing the budget doesn’t go as planned and it can actually hurt your conversions.
This can be for several reasons; sometimes your audience just isn’t big enough and you burn them out with too much frequency.
If you have a campaign that is converting well, but the audience size is only 200,000, any significant increase to the daily budget could decrease the longevity of the campaign itself. As the frequency goes up and people of that audience start seeing the same ad and same offer more than 4 or 5 times, your ad campaign loses traction. That’s just how it goes.
This isn’t specific to Facebook either.
If you are running Facebook ads, instead of just jacking up the budget, branch off into Pinterest, Twitter, YouTube, PPV, Google. And vice-versa. If you are currently using traffic networks like AdWords you will likely be able to double or even triple your business simply by running the same offers on other traffic networks.
If you are running any PPC campaigns bidding on domain/keywords it can often be even more difficult to scale because you tend to only get a certain amount of traffic based on your bid. Often increasing the bid just eats away at your margins and although you’re getting more traffic it is at a higher price rendering the traffic utterly useless.
Of course, there are testing periods involved when starting with new traffic sources but do it at your own pace, do research to see what competitors are doing on the networks and slowly start to implement the same strategies for your own business.
The BEST way to scale your business? HORIZONTALLY
By that we mean you should be looking how you can diversify your traffic and constantly be introducing more creatives, targets, audiences and offers.
Research new audiences, new keywords, new domains and new placements for the same offer.
Or completely change up the offer! The chances are if you are already providing your audience with a solid offer you will be able to create additionally offers that convert just as well. It may take some time, effort and of course testing but in the end it you will see the results.
NEED ANOTHER REASON?
What happens if you have the majority of your conversions, leads, or sales coming from one campaign and all of a sudden, your ad networks changes their TOS rules? You get shut down and that can be detrimental and potentially indefinitely pause your business.
This happened to us with one of our top converting Facebook campaigns. Facebook updated their policy, revisited one of our ads and determined it didn’t comply with the new rules, and just like that our campaigns were shut down. Not good.
But our business didn’t stop because we scale our business horizontally and diversified our traffic. We have 15-20 other campaigns still running.
Now, just about any business follows the 80/20 rule and you will always have at least one or two campaigns that perform the best. Obviously, you should be allocating the majority of your budget into those campaigns. But by having the remaining 20% spread out among other sources gives you security running if anything happens to those dynamite campaigns. Besides you may find a new winning campaign by scaling horizontally and testing new methods.
So, before you go ahead and scale one individual campaign, check out other ways you could potentially get more traffic, sales or leads. Scale horizontally.