You may not know this, but thousands of people in home businesses, and small businesses depended solely on Google Adwords to drive the exposure and profits for their businesses. I owned one of those businesses. But over the years there has been a steady increase in popularity and competition on Google which has slowly increased the cost of advertising. Many people ask is it even worth it to still advertise on Google, is it still profitable? The quick answer to that question is yes, but not in all cases.
Adwords can still be very profitable for businesses that have a huge profit margin such as, car dealers, real estate brokers, attorneys, ect. But for the little guy/gal, it’s becoming very difficult to stay profitable. In the good ole days it was really easy to just throw up a few ads a make big profits selling a 47 dollar ebook. You honestly can blame them for making the changes though because the competition has gotten fierce. It’s up to people like you and I to change the way we do business because there’s no way to get a multi-billion dollar company to bend to the will of small businesses and people working from home. They would rather have that extra space for companies like Amazon.com and General Motors.
A quick way to become profitable again is to start selling services related to your market. With my business, we’ve gone from just selling $97 ebooks to promoting our coaching and online marketing services. My average sale five years ago was only about $100 but now our average sale is $2000. This makes it a lot easier to be profitable when using any advertising medium because our profit per transaction is a lot higher.
So for starters, raise your prices, then when you’re done, rise your prices again. The focus should not just be on raising prices though, but more on increasing the quality of the service that you provide. Create more services to add on to your already existing services as well.
You maybe thinking right about now, “how am I supposed to create and sell a service?”. You start by making list of things that you already know how to do, then find out how much other businesses are charging for those same services.
You can provide, article writing, virtual assistant, web design, and technical services. Keep an open mind, provide real value and raise your prices.