Profit Rank: How We Do It
Profit Rank approaches every prospective client as a potential business partner. Why? Because Profit Rank operates on a hybrid of a low monthly fee and a performance or revenue sharing basis.
As a result, we will only accept a client once we have established to our satisfaction that we will have a significant enough effect on the client's bottom line to justify the investment. In order to make this determination, we require the help and participation of a confirmed expert on your business: YOU!
Setting the Stage
The first step in establishing a partnership with Profit Rank is to establish baseline metrics via analysis. Simply put, in order to project your firm's potential, Profit Rank must first establish where you are. We gather the majority of this information with our Internet Marketing Questionnaire, which obtains information about the following aspects of your online business:
- Your website's application infrastructure
- The size & scope of your online product offering
- The nature and success of current efforts in Usability Optimization, Organic Search Marketing, Sponsored Search Marketing, Affiliate Marketing
- Profit margins
- Average order
- Current cost to acquire a new customer
- Current and historic traffic levels
- Conversion rates for each online sales channel
- Discounts, coupon offerings, seasonal sales, and other promotions
- Your marketing budget and expected return for the average new customer
- Your competitive advantage
Your firm will naturally consider much of this information to be highly confidential. Profit Rank will be happy to sign your confidentiality agreement or to provide one of our own.
Note: It is not uncommon for a prospective client to be unable to provide some of the information listed above. Not to worry! We'll do the best we can with what you can give us.
Crunching the Numbers
Once Profit Rank has a clear idea of where your company stands, we are in a position to calculate where we might take you.
The key to performing this calculation is a sophisticated mathematical performance projection that takes into account the following factors:
- The baselines discussed above
- The maximum possible traffic your site might generate from the Affiliate Marketing sales channel if spending were not a constraint. This is based on a keyword analysis of your existing site and its content
- Your cost to acquire a new customer marketing budget, established on-site conversion rates, and your expected return per new client
The result of these calculations is a chart that tells us to what degree and how quickly Profit Rank can reasonably expect to grow your business, and what level of marketing expenditure will be required to reach this goal
On the basis of these results, Profit Rank will either submit a formal proposal for your consideration, or will decline to bid on the project
Assuming that you fit our client model and your firm accepts ProfitRank's proposal, we will immediately conduct a usability review of your website. The purpose of this review is twofold:
- To remove any obvious stumbling blocks that are preventing shoppers from converting into sales. Depending on the state of your website, this step can have immediate and profound results
- To ensure that you have infrastructure in place that will allow ProfitRank to collect the data we need to operate effectively.
Meanwhile, depending on the finding outlined in our proposal, ProfitRank will establish and begin to operate campaigns on the Affiliate Marketing channel. The specific nature of the campaign will depend on ProfitRank's findings, but the following observation generally hold true:
- Affiliate Marketing taps the vast shopping population represented by affiliates in the large affiliate member networks of Commission Junction, LinkShare, or Shareasale. Competitive analysis determines affiliate commission and offers.