Living by Doing

I'm a single founder working on improving my business and myself.

6. May 2014 22:27
by Anders Thue Pedersen
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How I grew my revenue 481% in 6 months (and a few weeks)

6. May 2014 22:27 by Anders Thue Pedersen | 0 Comments

A little more than six months ago, i participated in my first MicroConf conference, and my life has changed so much in some ways and not in others.

My way of looking at and doing business has changed a lot, but my motivation has not.

Recently I have been reading books and talking to many people about motivation and Monday when I was at my monthly mastermind meeting, we talked a lot about motivation.

One reason for this is that in my “old” business life (five years ago and before that) I was motivated to work because I believed that it would somehow lead to me getting recognition, fame and fortune.

 

This almost killed me.

 

Now I am motivated because I want to create a fantastic work environment, one where people can blossom, one where they have the energy surplus to work on becoming better persons than they were when they started. A work environment where people help each other, not because they have to but because they want to. A work environment where there is laughter and happiness where there are feelings and honest people that dare.

The best part is that this is happening!

I do motivate people to do better, to become better and to get better and I love it.

But, there is still an area where I can learn a lot from my fellow mastermind’s my employees and friends, namely self-motivation!

I usually only do stuff that I can finish in a day at max and prefer if I can finish It in 5 minutes J

To improve my grit and perseverance I will start playing “the game”, not to win, but to have fun.

My new game will not have an end, it will not start and never finish and there will be no winners, losers, heroes or villains.

There will only be playing and being appreciative of what I have and what we accomplish together.

More specific I will write articles, many articles and it should be realistic to write 100 before the next MicroConf.

This together with an improved GUI and a clearer message on the homepage, should be able to lift my revenue to the double of now and then I will hit the magical 10x !

Last week I hit 5x revenue compared to my pre MicroConf level.

It was my best revenue EVER. The best conversion EVER (and even the traffic went up a little)!

All because I kept on doing a little every now and then - on the website, the software, the link building and the message on the homepage.

 

7. April 2014 22:24
by Anders Thue Pedersen
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The new website is live!

7. April 2014 22:24 by Anders Thue Pedersen | 0 Comments

The new watermark website is live!

www.watermark-image.com

I like it although as usual I shipped before I was completely satisfied.

But I wanted it live before MicroConf next week, so I worked through the weekend and got it ready enough for release.

Now i want to improve the software so it looks like something you would expect from the new website.

The status of my progress is not where I wanted it, I have struggled to improve my revenue and I believe that I must improve the GUI to improve the revenue.

24. February 2014 15:43
by Anders Thue Pedersen
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The sound of crickets

24. February 2014 15:43 by Anders Thue Pedersen | 0 Comments

As an entrepreneur, you have to push changes to your product, homepage or business all the time, and the better you are at adapting changes the more fun you are going to have.

Sometimes the changes are small and easy (or at least trouble free) to push out and sometimes they seem a bit harder.

When I moved my free version away from the most prominent place on the download page, this was a small change that involved a lot of worrying.

Worry because I was afraid what my user would think of the change.

Last week I did a small(ish) change again, and again I worried if it would blow up in my face.

I introduced a higher price point of the TSR Watermark Image software - two new versions with some new features and some new pricing (29/69/139)

The result was absolutely nothing, or actually it was better than that because it was “the sound of crickets” I got zero complains and no hassle only some more revenue!

The lesson is, it is ok to worry, but not more than you still pushes out changes!

Status

Last week

I release the new 3-price point layout of the download page.

I released a new version with support for uploading the watermarked images to WordPress after watermarking.

Added WordPress, Facebook and FTP logo to the download page.

The Conversion did go down some, but the higher price point orders made the revenues go up – three cheers for the higher price points!

Next week

I am working on a version with the option of uploading to eBay that I am having some good progress on and will release this during the week, also the new website design are almost ready – hoping for a release this week.

 

Week Orders Revenue Visits Conversion
40 147% 181% 109% 135%
41 212% 275% 111% 190%
42 141% 185% 105% 135%
43 206% 254% 113% 182%
44 171% 215% 107% 159%
45 229% 285% 104% 220%
46 247% 313% 109% 226%
47 300% 395% 106% 283%
48 312% 413% 96% 323%
49 300% 423% 96% 312%
50 271% 349% 93% 291%
51 218% 303% 85% 256%
52 171% 209% 75% 228%
1 259% 315% 86% 301%
2 282% 382% 98% 288%
3 247% 333% 93% 266%
4 241% 288% 96% 251%
5 218% 273% 91% 239%
6 247% 311% 91% 271%
7 276% 369% 87% 319%
8 259% 381% 96% 269%

17. February 2014 22:34
by Anders Thue Pedersen
0 Comments

How a one-character change boosted conversion 73%

17. February 2014 22:34 by Anders Thue Pedersen | 0 Comments

I read this interesting article about the psychology of pricing and thought that I would test a minor change – removing the $ sign from the prices.

Sometimes you just have to do the test, not because you believe it will work, but just because it might.

I honestly do not even know why I ran this test; I cannot remember why I thought this test would be something I should test.

Nevertheless, testing it, I did, and the result was shocking and unbelievable, but numbers do not lie – and the numbers are that it boosted the conversion by 73%.

This is after 2776 visitors and three days, so it might be less after a week or two, but due to the other changes I have made in the last week I had to stop the test and just change the website to not use the $ sign anymore.

As Andy from successfulsoftware.net told me at the MicroConf in Prague, this will probably drop in the weeks to come, it usually does, and so will this – but even if it’s a .1 or .2 point lift in conversion I’ll be happy because that will convert to around 10000$ more revenue a year!

As I wrote some weeks ago, I have also been asking many customers about why they bought TSR Watermark Image so I could write better copy text.

Then the other day I noticed that the copy text shown in google, (Title and meta description) sucked and believed that I could do better.

This also seems to be true; my clickthrough rate from google has jumped around 20%, although it is too early to tell if it will keep on, I think it will.

The last change I did was that I completed the higher price points, I now have three products priced at 29, 69, 139 and this will raise my average order value and lower the apparent price of the smallest version since the user will compare it to a 139$ version.

Two days in, no one has bought the higher priced version, but as you can see from the numbers things are beginning to move up again.

10 ways to boost your conversion rate

  1. Split test $ sign
  2. Have a higher price point
  3. Have an really easy way to download the software and add a buy now button that links to the checkout procedure (this gets me a double in conversion from the average conversion rate)
  4. Improve your copy to mirror what the customers are thinking when they get to your site
  5. Improve your product
  6. Simplify what happens after the user clicks buy
  7. Add Trust builders, reviews and user feedback
  8. Add 90 days money back guarantee
  9. De-clutter your website, remove everything but download and buy now
  10. Split test everything (ok, I ran out of ideas)

Status

Last week

Look above

This week

I’m looking for how to improve the value of the higher price points, especially I am looking into adding the ability to upload to wordpress, shopify or another well know product out there, do you know any?

 

 

Week Orders Revenue Visits Conversion
40 147% 181% 109% 135%
41 212% 275% 111% 190%
42 141% 185% 105% 135%
43 206% 254% 113% 182%
44 171% 215% 107% 159%
45 229% 285% 104% 220%
46 247% 313% 109% 226%
47 300% 395% 106% 283%
48 312% 413% 96% 323%
49 300% 423% 96% 312%
50 271% 349% 93% 291%
51 218% 303% 85% 256%
52 171% 209% 75% 228%
1 259% 315% 86% 301%
2 282% 382% 98% 288%
3 247% 333% 93% 266%
4 241% 288% 96% 251%
5 218% 273% 91% 239%
6 247% 311% 91% 271%
7 276% 369% 87% 319%