Tag Archive | "Profitable"

10 Ways Specificity Helps You Build a Profitable Audience

If you’re building a business with content marketing, you’ve probably noticed that the attention span of your audience is shrinking…

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What Profitable Digital Businesses Hope You Won’t Discover

How often do you feel stuck when trying to grow your business? Since we’re creative people, we like to come…

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Uber CEO: We Expect This Business To Be Very Profitable

“Not only do we expect to hit cashflow break-even, but we expect this business to be very profitable at maturity,” says Uber CEO Dara Khosrowshahi. “I think that going forward our spending declines as a percent of revenue. So when you’re growing trips 35 percent year on year your spending is going to increase. But we’re going to get leverage on the marketing line and we’re definitely going to get fixed cost leverage going forward.”

Dara Khosrowshahi, CEO of Uber, discusses the company’s latest quarterly results and predicts that Uber will ultimately be very profitable in an interview on CNBC:

Uber Is Much More Than a Rideshare Company Now

The IPO for us is a once in a lifetime moment. It was a really important moment for the company. Some of what we did like the driver appreciation award, almost $ 300 million that we put in the hands of over a million drivers globally were really important for us to do. It created a messy P&L from an accounting standpoint. I think it is hiding underlying trends that are actually very healthy for the company. If you look at trends for the company which is going to matter long-term, you have got gross bookings over $ 16 billion growing 37 percent on a year on year basis. You’ve got trip volume, and trips are units, growing 35 percent year on year. You’ve got audience, monthly active platform customers, now over 100 million, growing 30 percent. The actual revenue growth excluding the driver appreciation award was up 26 percent. 

What I did tell our investors is to expect that to accelerate into the back half of the year. The back half of the year you are going to see if trends stay the same, revenue growth in excess of 30 percent. When you look at profitability, we beat our own internal targets and we beat Street targets as well. We came in at a loss of $ 656 million. It’s still a big loss but the losses are improving and the take rates are improving. If you back out some of those one-time expenses, we went from a loss of $ 800 million to a loss of $ 656 million. We got much more efficient on the marketing front. We actually took marketing as a percentage down while we were still growing the top line over 30 percent as well. This is much more than a rideshare company now, it’s a transportation company. 

We Expect This Business To Be Very Profitable At Maturity

We are in a situation as far as the network effect of the company where we don’t need to increase the marketing and incentives. We can go in with loyalty plans both for riders and drivers that are going to add to leverage and ultimately profitability of the company. This is a marketplace company that has over 20 percent revenue margins and revenue margins are increasing year on year. Not only do we expect to hit cashflow break-even, but we expect this business to be very profitable at maturity. 

I think that going forward our spending declines as a percent of revenue. So when you’re growing trips 35 percent year on year your spending is going to increase. But we’re going to get leverage on the marketing line and we’re definitely going to get fixed cost leverage going forward. I think that this quarter proved that out and we have to keep hitting our marks in the next couple of quarters. It’s a super-competitive marketplace but we are confident. We like what we saw operationally this quarter.

Uber CEO Dara Khosrowshahi: We Expect This Business To Be Very Profitable at Maturity

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Ryan Levesque: The Author Of ‘Choose’ And ‘Ask’ Explains What It Really Takes To Find A Profitable Niche Online

[ Download MP3 | Transcript Coming Soon | iTunes | Soundcloud | Stitcher | Spotify | Raw RSS ] One of the recent superstars of internet marketing to rise in the last few years is Ryan Levesque. His ‘Ask Method’ of segmenting audiences using buckets has become hugely popular, used by many top internet marketers in their […]

The post Ryan Levesque: The Author Of ‘Choose’ And ‘Ask’ Explains What It Really Takes To Find A Profitable Niche Online appeared first on Yaro.Blog.

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What Does It Take To Launch And Sustain A Profitable Membership Site?

 [ Download MP3 | Transcript | iTunes | Soundcloud | Raw RSS ] In this solo podcast, I dive into all the various experiences I have had selling membership and subscription-based products online, including insights I have gained from interviews and coaching other successful membership site owners. My first ever product, although it was […]

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4 Ways to Make Free Shipping Profitable for Your eCommerce Business

One of the most crucial decisions an eCommerce business has to make is whether to offer free shipping. If the retailer does opt to provide free shipping, then other equally important decisions have to be made, like what kind of go-to-market process will be implemented.

An online retailer’s free shipping policy can boost conversions, but it can also add to expenses. Luckily, there are several strategies open to a company.

Here are four ways that can make free shipping profitable for your business:

Image result for flat rate shipping1. Offer Your Clients a Flat Rate

One of the best ways to make good use of free shipping is to offer a flat rate for all packages, or flat rates for total orders and weight ranges.

However, this method requires intensive planning and preparation. The company has to figure out the average cost of shipping. This is to ensure that they do not overcharge or undercharge clients. When they do come up with the right cost, the price will likely be a little over or under the actual shipping cost. But this discrepancy would even out eventually.

Retailers considering a flat rate should be aware that they would need to conduct several tests to see which would work better – pricing by weight range or order totals.

2. Add Shipping Cost to the Product Price

Integrating the shipping cost to the product price will also work in the company’s favor. Consider the following options:

  • Offer 1: $ 50 for the product + $ 5 for shipping
  • Offer 2: $ 55 with free shipping

The majority of consumers would undoubtedly favor the second option. Studies have shown that the conversion numbers for the second offer were double that of the first offer. This method also works very well for unique products and items that are hard to find.

So how does one incorporate the cost of shipping into the product’s price? One way is to change the price of items below the free shipping threshold so that it would include part of the expected shipping cost. For instance, you can add 13% of the expected shipping cost to items priced at $ 10. So from $ 10, the product will now cost $ 11.30. With this strategy, you get to offer free shipping while recouping part of the cost.

Image result for ground shipping3. Substitute Service Types

Thousands of online retailers have found that ground shipping is the most affordable option, so this is the most common type used in free shipping. But retailers should make it clear to customers that this is not overnight shipping and that an additional fee will be charged if they want to expedite the process.

Ground shipping can actually reduce your shipping expenses by as much as 50% and most can easily meet 2-day expedited shipping requirements. If the product is to be delivered somewhere near the office or distribution center, then you can use the cheapest ground option available, meet the delivery window, and save money.

Don’t be afraid that your clients will be put-off by the 2-day wait. Nearly all online buyers are willing to wait longer for a product as long as shipping is free.

4. Exclude Specific Products From Free Shipping

Another way to reduce the negative impact of free shipping is to exclude specific products from the service. Companies can exclude large and heavy items with high shipping cost and products with low margins from free shipping. They can also just offer the free service exclusively to high volume products with low shipping costs.

Do not look at free shipping as a financial black hole. Savvy retailers can utilize free shipping as leverage to boost conversions and average orders while reducing any negative impact it might have on revenue.

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The Foundational Elements of Profitable Online Courses

After ebooks, online courses are one of the most popular business models for digital entrepreneurs. The tech is easier to put together than ever. Audiences know that online courses are valuable and have shown they’re willing to pay. And courses are a natural showcase for the authority you build as you develop great content for
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The Career-Expanding Discovery Many Profitable Writers Have Made

"This skill enables your professional life as a well-paid writer." – Stefanie Flaxman

The struggle when I started my freelance writing service business looked like this:

  • I was fascinated with crafting words that accurately conveyed a message.
  • I hadn’t extensively studied journalism or entertainment writing because those weren’t career paths I wanted to pursue.
  • I knew that offering basic content writing services for businesses — filling up pages with words — would not pay high rates.

And I completely understood why filling up pages with words was not valued. Nothing is worse than paying for a service that doesn’t produce results.

When writers charge low fees for content writing that doesn’t persuade prospects to take action, two dangerous things happen:

  1. It’s difficult to support yourself through your writing services.
  2. Your clients don’t make new sales.

If a client thinks that the money they paid you was a waste because they didn’t make it back in sales, they’ll view you as interchangeable with any other writer — and there’s probably someone else who charges even less than you for a comparable lack of results.

This situation perpetuates the cycle of writers thinking that making a living off of their craft is unrealistic and businesses devaluing writers because they aren’t familiar with the power of the right words.

When clients see what the right words can do, though, everything changes.

Smart businesses value copywriting

To end the disappointing cycle, you need to offer the proper balance of content marketing and copywriting.

As Jerod wrote yesterday:

“Copy’s for closers.”

Once I learned about copywriting, my writing business benefitted in two main ways:

  1. I was able to write copy that persuaded people to hire me.
  2. I had a skill set that justified competitive rates and delivered a return on investment for clients.

If the work you do for a client makes them a profit that exceeds the cost of paying you, everyone wins. You get paid what you’re worth and they are happy to pay high rates for your services.

Copyblogger’s Certification program teaches you how to be the kind of writer that businesses value.

If you’re interested in joining our list of Certified Content Marketers who we recommend to businesses, make sure to add your email address at the end of this post. You’ll be the first to know when the program reopens to new students.

3 resources to help you take control of your writing career

If you’re anything like I was, you’re looking for enjoyable, artistic writing work, but you’re also disciplined and practical.

So, you’re asking yourself questions like:

  • What types of new clients would I like to retain in the next year?
  • Am I open to learning new skills to attract those types of clients?
  • How can I prioritize the different steps I need to take?

You may even be thinking about possibilities down the road like becoming a different type of entrepreneur or joining a larger organization. (I joined the Copyblogger team after running my freelance business for six years.)

Here are three resources that will help you bridge the gap between the writing career you have now and the one you want in the near future.

7 Real-World Ways to Think Like an Artist for Better Content Marketing

"We make good sentences by starting with awful sentences." – Sonia Simone

Somewhere along the line, we got the idea that marketing was another word for lies. Don’t buy it.

Smart marketers don’t accept the excuse of “It’s just marketing” to hide the truth or produce crummy work that benefits no one.

Wise marketers embrace art as integral to what they do, as much as strategy and execution are.

5 Writing Techniques that Stir Your Audience to Action

"You’ve got to stir something in them before they’ll do something." – Brian Clark

Emotion moves us to act.

In fact, the Latin root for the word emotion means “to move,” because emotions motivate what we do. We don’t necessarily want to make them seethe with anger or burst into tears, though.

The goal is not necessarily to get someone to feel, but rather to want — and to act on that want.

How to Run a Sustainable Writing Business (Where the Backbone of Success Is Simply … You)

"Knowing the business of writing and content marketing gives you an advantage over other (directionless) writers." – Stefanie Flaxman

The success of a writing business depends on so much more than your ability to write.

It’s often difficult to balance writing for your existing clients and attracting new clients. Consequently, your writing income may vary at different times throughout the year and the work you love to do never quite feels sustainable.

Whether you’re just starting your writing business, or you’ve been building it for a while and are hoping to make it more financially secure, these 15 tips support a healthy, productive solopreneur venture.

Writers: Looking for even more proven ways to position yourself for greater success?

Our Certified Content Marketer training is a powerful tool that helps you learn new writing strategies and position your business for greater success.

We’ll be reopening the program to new students very shortly — add your email address below to get all the details. Registration will be open for a limited time, so procrastination is not advised. :)

Find out when our Certified Content Marketer training program reopens:

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Profitable Writers Demonstrate How to Prosper from Your Words

successful-writers

If you aspire to make a comfortable income from your writing, you’ll find inspiration in the stories of the three people we’re featuring in today’s Certified Stories article.

This group comes direct from our Certified Content Marketer page here on Copyblogger.

You know what I liked best about their answers? That they were pleasantly surprised that writers can indeed make a healthy living doing what they do best.

I love hearing stories like that — they make our efforts here at Copyblogger worthwhile.

By the way, don’t miss the WORD ebook we developed specifically for writers — you’ll get instant access when you register at the bottom of this article.

Here’s who’s joined us today:

certified-stories-aaron-trudi-carin

  • Aaron Wrixon specializes in white-label writing and content marketing services for web designers and their clients. Contact Aaron
  • Trudi Roth creates site copy, blog posts, video, and social media strategy that converts passive bystanders into active, engaged fans. Contact Trudi
  • Carin Kilby Clark writes conversational copy and content that demonstrates authentic thought leadership and builds authority. Contact Carin

Read on as Aaron, Trudi, and Carin share their hard-earned wisdom.

What do you wish you knew about writing when you first started out?

There’s perception and then there’s reality. Sometimes we perceive our dream careers through rose-colored glasses. Once we’re in them, though, the day-to-day reality doesn’t live up to the image.

But for our three writers, reality was better than perception.

Trudi had to first lose the notion that she couldn’t make a good living as a writer:

“I believed that writing was a low-paying job and making art (which is always how I think of writing!) in general is not lucrative. Today, as a more mature person who has made her way back into the workforce … I realize that was some toxic Kool-Aid I drank in my early career. Great writing has tremendous value, period. And that’s what I’m teaching my kids, so I’m paying that wisdom forward.” – Trudi Roth

Aaron came to the same realization as Trudi. Writing can be lucrative:

“… you can see how it would be easy to convince yourself you had to settle for (writing) cheap crap and only making 15k a year. I’ve since learned that’s total nonsense. And now I’m very, very fortunate, with a great wife and family who want for nothing — and all because I found out how to tap into the high-paying jobs. So sure, I wish I had done that a lot sooner, because if I had I’d be writing to you from Fiji now. But hey, my time machine is almost finished, and when it’s finally done I’m going to go back and smack my younger self.” – Aaron Wrixon

Carin realizes now that great writing is all about the rewrite — that she didn’t have to be perfect right out of the gate:

“The ‘ugly first draft’ truly is a writer’s best friend.” – Carin Kilby Clark

What’s the one thing you did in the past year that helped build your business?

Our three writers answered this question differently — but their answers share a common theme. Over the past year, each of them made a serious commitment to their businesses.

Carin committed to putting herself out there to meet prospects in person. Here’s what worked to build her business:

“Good old-fashioned, face-to-face networking. Online is great, but there’s still a ton of value in getting out from behind the desk, shaking hands, and exchanging business cards with people.” – Carin Kilby Clark

Aaron decided — finally — to go all-in:

“I quit, finally. I’d been side-gigging for so long and I finally went full-time in March 2016. Since then I’ve matched my 2015 salary.” – Aaron Wrixon

And Trudi’s afraid you might think we put her up to this answer (but we didn’t):

“Hands down it was taking and completing Copyblogger’s Certified Content Marketer training program! I know it sounds like you guys paid me to say that, but … having a listing on the Copyblogger website as a Certified Content Marketer has brought me at least a dozen excellent repeat clients that know their stuff because they are fans of Copyblogger, too. (And my listing has only been up for a couple of months, so that’s really exciting!)” – Trudi Roth

Is there a writing tip you’d like to share with Copyblogger readers?

There’s nothing like the voice of experience, is there? Our three writers have picked up mindsets and habits that have helped them in their careers. We asked them to share what they’ve learned along the way.

“Be curious. That sounds like such a trite answer, but for me curiosity starts the whole process. It’s so tempting to hear a client say, ‘I want this many words that say this to this person,’ and answer, ‘Yes ma’am, right away ma’am.’ But it’s when you start questioning everything that good work happens. ” – Aaron Wrixon

Trudi reminds us that even the most boring topic has an angle that will make it enjoyable to write about:

Have fun. Being a writer is being a creative person in the world, and so any topic can be engaging and exciting when you find the angles that you connect into and that make your work enjoyable.” – Trudi Roth

And Carin repeats the advice we’ve shared here many times: write — even when you don’t feel like it.

“Write every day. Especially when you don’t want to or don’t feel like it. I’ve cranked out some of my best writing on the days when I wanted to do anything but sit down at the keyboard.” – Carin Kilby Clark

What was your favorite aspect of the Certification program?

Finally, we thought you might enjoy hearing about our Certified Content Marketer training program direct from three writers who have taken the course and gone on to be certified.

Trudi appreciated one particular piece of course content — and saw one sign that this course was the right one for her.

“There are a lot of great resources you get from the Certification program, but I have to say that the one that made it well-worth the price of admission to me is the workbook, ‘Using Empathy & Experience Maps to Develop a Killer Content Strategy.’ … it is really genius when it comes to developing helpful, engaging content that speaks to my clients’ core audiences. Copyblogger … makes me feel so supported and confident that my work as a kick-ass content marketer will continue even as the digital landscape changes. Being in the Authority program gives me access to awesome continuing education. Also, I like that Sonia has pink hair. It’s a sign to us all that we’re in the right place.” – Trudi Roth

Carin liked the professional preparation the Certification program offers:

“My favorite aspect of the Certification program is the education around the professional writer’s mindset, marketing yourself as a writer, and becoming an indispensable resource for your clients.” – Carin Kilby Clark

And Aaron? Well, Aaron plans an addition on his house …

“I get a whole lot of emails that start with ‘Hey, I found you on the Copyblogger site.’ When I build an addition on my house, I’m going to call it the Copyblogger Wing.” – Aaron Wrixon

Questions for these writers?

Head on down to the comments section and leave your thoughts about your writing career, your client work, or what the environment is like out there right now.

And to get the free WORD ebook we put together for you, sign up below!

WORD by Copyblogger: a new free resource for writers

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At Copyblogger, we believe writers deserve to feel fulfilled — emotionally and financially — in their careers.

Get our best advice in our new WORD ebook: a smart resource we put together for our writer friends.

Click to get WORD, a free ebook for writers

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Uber Now Profitable In Hundreds Of Cities Globally, But Spending It All On China

The CEO of Uber, Travis Kalanick, told The Financial Times that Uber is profitable except for its investments in China and other new markets. Uber is in a fierce battle for market share as the number two ride sharing service in China behind Chinese company Didi Chuxing. China is now Uber’s biggest market in the world when measured by number of rides and amazingly accounts for a third of its business worldwide.

“We have hundreds of cities that are profitable globally,” Kalanick said. “That allows us to invest in new places, and to sustainably invest in a very expensive place like China.” Uber had first-mover advantage in China but was quickly followed by Chinese company Didi Chuxing which was flush with investment capital and has now moved into over 400 cities, while Uber has only launched in 60 plus cities, but that is changing fast. Uber lost over $ 1 billion last year in China and may lose even more this year in order to launch in new cities and gain market share.

China has 16 cities with metropolitan populations of over 10 million making market launches challenging and expensive. By comparison, the largest city in the United States, New York City, has a population of (only) 8.2 million. “We are number two in China, which means that we still have a ways to go,” Kalanick said. “But we are putting everything on the field.” According to FT, Uber’s CEO spent nearly one in five days in China. “Travis was personally invested in the success of Uber in China to a much greater degree than any other country,” noted Allen Penn, head of Asia operations at Uber.

China was always thought of as a huge challenge for Uber, but with potentially huge rewards. “We like to go after the thing that seems impossible,” Kalanick told San Francisco based FT writer Leslie Hook. “It was pretty far-flung for us to try at that time – but that was also what made it exciting.”

In order to combat difficult Chinese regulations targeting foreign owned businesses the company launched in China different than other Silicon Valley heavyweights like Google and Facebook, they created a separate company called Uber China and brought in Chinese investors. This has allowed Uber to do business in China without being hampered by unfair Chinese regulations that favor Chinese based businesses.

That’s the good news. The bad news is that Uber competitor Didi Chuxing is dominating the market and out-competing Uber and has launched in many more markets. In 2015 it arranged 1.4 billion ride shares, more than Uber has done worldwide in its history. Last year it arranged 1.4 billion rides in China, more than Uber has done worldwide in its history.

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