How To Grow A Small Business And Make More Money

How To Grow A Small Business And Make More Money
  • Save

This morning, I had a small conversation with a friend who was intrigued by my online business venture. His wife owns a local skincare business, so he wanted to know how to grow a small business and make more money.

In this article, I will go over the things that we’ve discussed and how he can leverage the internet. Maybe you’ll learn a thing or two yourself! Without further ado, let’s get started!

Promoting Your Products On The Internet

According to Yelp, his wife Polina has studied skin care at a medical school in Moscow, Russia. Polina is known for her facials and painless waxing services. She has also served many celebrities and locals in the Bay Area. With enough testimonials on Yelp, she shouldn’t have a problem making sales on the internet.

They seemed pretty successful already based on the Yelp reviews, but they can do much better if they expand to the internet. First of all, their business is considered bricks and mortar business.

The only way they can make money is by selling products and services to their locals. With millions and millions of potential consumers on the internet. They are leaving lots of money on the table.

Adding An Affiliate Program To Your Business

At the moment, their website is under construction, but once it goes live. They can either outsource for content writers to get traffic to their website organically. Or, they can leverage the traffic from already successful affiliate marketers by starting an affiliate program.

If you’re not sure how to start an affiliate program. I have written an article on how you can start an affiliate program for your business.

Tip: If this is all too confusing for you, I recommend checking out the all-in-one business solution known as ClickFunnels. If you’re not sure how it works, check out a funnel hacks web class hosted by Russell Brunson himself plus you’ll get 2 weeks of free trial for ClickFunnels!

The Idea Behind Starting An Affiliate Program

Since my friend and his wife have an actual product. They can leverage the traffic from affiliate marketers. First, they need to finish setting up their website. Afterward, they can set up their affiliate program and start reaching out to affiliate marketers in their space.

There are lots of affiliate marketers in the skin care niche. If I were them, I would offer samples for these marketers to try out and review for their audience. With your affiliate program, you can then provide affiliate links to these marketers, so they can promote it via their channel (Blog, YouTube, etc).

The Affiliate Program Structure

To entice marketers to promote your products and still remain profitable. You can offer a handsome front end commission for people who generate sales. Let’s say a bottle of eternal youth lotion (I made this up) cost $200.00. The affiliate marketer can earn 50% (better than most Amazon products) per sale.

You’re probably wondering how the heck can you remain profitable with such a handsome front end commission? Well, it depends on the cost of manufacturing these products and how you structure your affiliate program.

Notice I mentioned handsome FRONT END commission? Well, that’s because the back end is where the REAL money is being made. After paying your affiliates the front end sale, you can then up-sell your customers to packages, deals, etc.

Or if you don’t want to up-sell your customers. You can still send them email promotions over-time. When they return to your website via your promotion, you get the full sale.

The idea is to first generate a customer and then have them buy from you and over and over again. The good thing about skincare is that your customers will always have to buy more products. Let’s say they enjoy the eternal youth lotion. What happens after they run out? Well, they’ll need more.

Since they’ve purchased from you already through your affiliate. You can now afford to offer discounts via email like 20% and still be profitable! (That is If you don’t pay your affiliates for sales after the initial sale).

Or you can offer sticky cookies (customer for life to your affiliates), but lower the payout since they will be earning money over and over again as long as the customer remains a repeat customer.

Here’s A Bonus For You!

Now that you understand the fundamentals of affiliate marketing and how to create an affiliate program. Here’s another way for you and my friend to generate more sales.

Offer a monthly subscription package: Instead of relying on one sale at a time, why not offer a bundle deal in the form of a monthly subscription?

The point of a monthly subscription is to offer your customers a deal and also keep them stocked up at all times. Since they have to buy skincare over and over again anyway, why not give it to them on a monthly basis?

With this, you can also offer your affiliate marketers a continuity residual income! It’s truly the best of ALL worlds.

In Conclusion

I will be working with my friend to help him and his wife expand their small local business and make more money. Stay tuned as I will provide you with updates as we progress. Bear with me though, my friend and his wife are quite old, so it takes some time to explain and help them understand what’s going on.

What would you do to expand a small business and make more money? Please share your feedback by leaving a comment down below.

Kind Regards,

home, make money online home, make money online now, make money working from home, niche, niche website, self employed, SEO
  • Save

How To Grow A Small Business And Make More Money
  • Save

4 thoughts on “How To Grow A Small Business And Make More Money”

  1. Hi Eric! Very good read. I like how you were able to turn a small conversation with a friend into an Internet business opportunity.

  2. Hello Liz,

    Indeed! ClickFunnels is a great all-in-one business solution. You can create your own sales funnels, set up affiliate programs, and email marketing.

    Cheers,
    Eric

  3. This the model many successful businesses use. If your business only offers front end offers, you can't even afford to advertise and make a good return with it. Because you wouldn't be able to make enough revenue to cover the advertising cost. Having up-sells to your already existing customers, you are going to open your business up to extra revenue without having to spend an extra dime. Many businesses that aren't utilizing affiliate marketing are slowly dying and some have already died. You wrote a great article explaining the benefits of using affiliate marketing, in this case, your friend skin care business. It's truly a win/win for the vendor and the marketer. Thanks for sharing!

  4. Hello Hong,

    Absolutely! We are going to move forward with getting an affiliate program set up as soon their website is complete. You are right about companies not utilizing affiliate marketing to compete with giants like Amazon. Our beloved Toys R' Us is no more simply because it can't compete.

    Cheers,
    Eric

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up For Wealthy Affiliate And Transform Your Ideas Into Profits!
Scroll to Top
divi layers

Get Divi by Elegant Themes For Free!!!

42 views 0 Shares
Share via
Copy link