Improve Business Success: Conversion Rates, Market Trends, Profit Optimization

Name: Improve Business Success: Conversion Rates, Market Trends, Profit Optimization
Uploaded: 2023-07-23 07:11:24
Description: In order to succeed in business, it is important to focus on improving conversion rates, understanding market trends, and optimizing profitability through effective strategies and analysis.

This article is a summary of a YouTube video "Стрим Ilya Krasinsky 🔥 Gleb Kudryavtcev" by Krasinsky: growth, marketing & product, analytics

TLDR In order to succeed in business, it is important to focus on improving conversion rates, understanding market trends, and optimizing profitability through effective strategies and analysis.

Key insights

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The relinking of the payment system led to a significant increase in conversion rates, almost doubling it.
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Skyeng's success can be attributed to a long tail of loyal customers who have been making purchases for years, highlighting the importance of customer retention and segmentation in the economy.
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The cost of a client is heavily influenced by conversion, highlighting the importance of optimizing conversion rates for businesses.
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Segmenting customers and understanding the reasons behind their conversion can help improve marketing strategies and increase customer acquisition.
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The most sustainable way to grow a business is through repeat purchases, with a target of at least 3 or 4 purchases per customer.
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Businesses that can attract and retain users without relying heavily on paid advertising have a higher chance of success and longevity.
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Competition for marketing channels is global, and businesses need to consider not only their direct competitors but also the limited number of advertising spaces available, which can significantly impact their ability to attract paid traffic and grow quickly.
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The speaker emphasizes the significance of personal sales and the potential for higher revenue, depending on factors such as average bill and profit per client.

Timestamped Summary

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00:00
The speaker discusses their experience with YouTube livestreaming, challenges of pricing and selling products, running ads on their channel, motivation for public speaking, and upcoming changes to their stream and business model.
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18:19
The speaker discusses the popularity of the word "neuron" and advertising costs, estimating that only two people fully understood and 20,000 rubles were spent on advertising, with expectations of future scaling.
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30:38
Focus on unique and good numbers for the market, understand conversion rates, and improve business strategies to scale and earn money; Gleb won a competition with few participants.
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42:55
Simplifying form fields and setting targets for each stage of a meeting can improve conversion rates in B2B sales, while discounts should be considered in relation to average check and product changes; measuring conversion rates accurately and looking at successful models and top-performing teams as benchmarks is important.
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59:54
The speaker emphasizes the importance of achieving higher value and quality in various aspects, such as conversion rates and analytics, while questioning the sustainability of certain business models in the face of increasing competition and rising marketing costs.
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1:12:52
The difficulty of selling certain products is determined by the frequency of scenario and repeat sales, and it is crucial to surpass existing benchmarks and compete for limited advertising spaces to successfully launch a new product.
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1:22:23
Starting a business involves taking risks, finding a niche, and enjoying what you do, while taking action and structuring content for better reception are important for success.
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1:31:53
The speaker emphasizes the importance of withdrawing from the manager, paying bonuses, and focusing on personal sales and profit per client in determining the effectiveness of Funnels, while also discussing the significance of calculating costs and considering different segments to optimize profitability in B2B business.