Focusing on Small Sections of Business Can Lead to Greater Profits, According to James Schramko’s Latest Business Update

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In his latest business update on SuperFastBusiness.com, online business and Internet marketing expert James Schramko shares tips that have helped shape his customers' success in business: keeping a narrow focus in business, offering recurring subscriptions, having multiple customers, and more.

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James Schramko - Online Business Expert

I see people going too broad... they’re never really getting to the real stuff that makes the money, which is the testing, the tracking, the conversions, the sales copy, the follow-up sequence.

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“Concentrate on a smaller section of your business and go deeper into that business,” states James Schramko as he opens this week’s video news update on SuperFastBusiness.com. The online business expert states that too many new entrepreneurs don’t delve deep into areas where greater profits can be achieved:

“I see people going too broad. They’re all over the place, going very shallow into their business, and they’re never really getting to the real stuff that makes the money, which is the testing, the tracking, the conversions, the sales copy, the follow-up sequence,” Schramko states.

Schramko then stresses the importance of conversion testing. This method, which is traditionally called an A:B split test, is done by utilising two different versions of conversion materials and then comparing how effective each one is against the other. For instance, Schramko suggests sending out two different versions of fliers or using two different sales scripts for telephone marketers. He cites his own tests as an example:

“For one of the tests that I’m running right now, I actually run a fourteen minute video versus a one and a half minute video, and the results are actually very surprising. The one and a half minute video is out-converting the fourteen minute video… The goal is to deliver your entire message in the shortest possible timeframe,” Schramko reports.

The results of split testing, states the Internet marketing expert, can be used to further refine a company’s marketing techniques and thus improve conversions among potential buyers.

Schramko’s next tip tackles the advantages of recurring subscriptions. This kind of subscription requires vendors to make a sale once, after which customers can continue availing of the service for a recurring fee that may be paid monthly, quarterly, or yearly, depending on the chosen billing cycles. According to Schramko, this kind of subscription has the unexpected benefit of allowing entrepreneurs to keep in touch with their customers:

“You sell once, get paid over and over again, and that’s great, but the other aspect of recurring subscriptions that it’s like you’re getting paid to do customer relationship management… You’re actually getting paid to be in contact with your very best customers each week, month, quarter or year. So that’s why I think subscription programs are essential in just about every business. Get paid to be in contact with your very best customers often, and you’ll find it so much easier to keep that lifetime customer,” Schramko asserts.

He then offers a quick tip on having multiple customers, citing that this is essential to protect one’s business. This is followed by advice for audiences to “automate yourself.” According to Schramko, this tip is applicable not only to online entrepreneurs, but also to offline businesses:

“Record yourself on video and send a welcome message… Send every single person who makes a purchase with your business to the welcome video to let them know that you do care. Tell them how they could contact support if they need help, and also outline the next part of the experience that’s coming to them so they can get it.”

The self-made CEO of SuperFastBusiness concludes this week’s business update with a tip on segmenting. He states this should be applied not only to customer databases, but also to the methods of communication used:

“Once you have a [customer] database, it’s important to divide that into clusters. But beyond that, you also want to segment your communication, which is about having the right message, via the right medium, to the right market, at the right time… When you get your segmentation and your communication just right, you will have a fantastic business,” Schramko shares.

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