Finding Your Money Leaks

In poker, a problem you have with your game is called a “leak”, because it’s causing you to leak money.

In business, same thing. What leaks does YOUR online business have?

• No aggressive opt-in incentive to add potential customers to your email followup campaigns.
• (Bigger Leak: Not offering your visitors to subscribe to something so you can stay in touch with them)
• No “buy now” incentive
• Not a strong enough guarantee offered and stressed prominently
• Not stressing testimonials prominently in your sales letter
• No upsell offered during the order process
• No “click here for recommended products” on your sales receipt page to generate immediate extra sales
• No cross-endorsements of related products to competitors’ lists
• Too much customer support issues because you don’t have an exhaustive “Frequently Asked Questions” section so people can find the answers themselves
• Making a dubious claim in your sales letter (yes, even one) that causes potential customers to be suspicious of your offer
• Not providing easy contact info for potential customers to feel confident that they’re ordering from a trustworthy company they can contact if there’s a problem
• Paying too much for your online advertising because you didn’t bother to try to haggle on prices (which are often shockingly negotiable)
• Not testing higher price points of your product to see if there’s a higher profit margin you can achieve with no extra effort
• Not starting an affiliate program once you’ve fine-tuned your sales process
• Not providing scripts to your employees to use who talk to potential customers by phone.
• Not maintaining existing customer relationships

Depending on your business there are many, many more as well, and one thing’s certain:

You’re leaking money somewhere. Plug the leaks!