8 Steps to Audit Your Online Business for Increased Profits: Steps 2 & 3

Step 2: Evaluate Whether Your Emails Convert Well for You

Email marketing is an essential part of having success online. Connecting with your subscribers, sending them to your offers and those you’re promoting as an affiliate, and showcasing your expertise can help you earn more if it’s done right.

But you may not have conducted an audit yet of your email marketing practices to see whether your performance is operating to the best of its ability. You have analytics built into your autoresponder system, so you’ll easily be able to check and see whether your campaigns need a revamp.

The first thing you want to do is see whether or not you have achieved a good sender score. This number tells you whether or not your IP address has earned a good reputation with email providers.

If you have a low sender score, chances are your emails are winding up in the spam box of your subscribers. That means they cannot see your messages, much less engage with them.

You can quickly check your sender score for free by going to SenderScore.com. There, you can enter your IP address or your domain and have it assess how your reputation is being viewed when it comes to email marketing.

If you have a low sender score, it means people have labeled your emails as spam or that you have been sending risky emails that make people question your trustworthiness.

Your sender score can either be poor (0-70), fair (70-80), or good (80-100). To improve your score and get your emails seen by more people, you want to clean up your subscriber list and ensure that you send out top-quality communications that people will find valuable and relevant to their needs.

You also want to use your built-in analytics to see which messages are being opened. This is a sign that your subject lines are working. You’ll be able to implement more top-performing strategies and eliminate those that don’t interest people.

You also want to look at the other analytics during your audit to see what conversions you get in your emails. This could be a sign of the relevancy of the products or links you promote to them – or the call to action you are using.

You may find a simple fix, in addition to the strategic aspect of developing stronger content that will help you improve your email marketing results. For example, segmenting your list can allow you to send more relevant offers to one sub-group of individuals rather than sending irrelevant offers to your entire list.

Step 3: Analyze Your Business Model to See If You’ve Remained Competitive

Not only do you need to conduct an audit to see whether or not it is time for you to diversify your income and tap into other business models, but you also need to analyze whether or not your current business model is competitive in the marketplace.

Take info product development, for example. If you are still creating the same types of eBooks and selling them on mini site sales pages that you were in 1999, chances are consumers do not see you as an authority figure.

If everyone else is conducting their delivery of info products with membership sites or through the use of video courses, you will be left behind. That’s not to say there’s no place for eBooks in marketing.

But you may need to evaluate what consumers are currently emphasizing and ensure you are being competitive. This encompasses everything from the media format of your product to the sales pages, what’s included in your funnels, etc.

You want to not only conduct an audit of your business model but see what your competitors are doing. If the top competitors all have short-form video accounts or podcasts for traffic generation and brand positioning, and you’re simply sticking with text blogs, you might find competing hard.

With your business model, you also have to audit your price points. You might not be delivering as much value as someone else, which may be a sign that your business is declining.

So look at everything from the product you’re producing (or service you’re providing) to your pricing strategy, copywriting skills, and more when evaluating your business model to see if it’s viable in today’s online marketplace.

You might need to level up with something on a higher tier, like personal coaching or a membership, rather than a small, one-time fee. It might be time to build your business with a new branch. For example, if you started as an affiliate marketer, maybe it’s time to develop your own line of info products or sell coaching.

When you’re ready to discuss or develop your marketing strategy, we can help. Contact us and schedule a free marketing consultation.