Let’s watch a golfer. He/she is out on the course. It seems everything is going their way today. Their drives are going further than usual. They’re perfectly calm while putting. They’re hitting par or close to par on almost every whole.
At the end of the game, they know how well they’ve done by their score. They know if all their practice is paying off. They see improvement as their scores improve each round. Their handicap is going down.
If they didn’t keep score, how could they be confident it’s working?
Sure, they could go by feelings…but how reliable is that, really?
Maybe it felt like a great game. But without a score, they’re never quite sure.
That’s how many people run their online businesses.
The most obvious type of scoring is profits.
How much money did you deposit in the bank last month?
How much did you spend to make it happen last month?
How many hours did you invest last month?
Right there we can determine your net profit/loss and how much you’re earning per hour. We don’t work per hour, but I still suggest you do your math…to find out if you’re investing your time wisely.
Several of my clients do a profit/loss spreadsheet for every product, service, and expense in their business every 3 months.
It’s an awesome way to help them focus their time on the most profitable activities.
But profits/loss are just one of the elements you should be tracking.
What’s the conversion rate on your opt-in page?
How about the conversion on your primary offer?
How much is each new subscriber worth to you in the first 30 days?
If you’re using multiple sources of advertising such as Facebook ads and affiliates, how do your numbers change for these two sources of traffic?
Tracking is the key to knowing what’s working.
It’s also the key to knowing whether you’re improving.
Just like the golfer, if you don’t track your scores, you won’t know how your game is doing.
You’re not tracking these numbers to compare them with anyone else. Nobody else’s numbers matter to you.
What matters in the end is ROI.
All these other numbers do is help you determine whether what you’re doing is improving the bottom line or not.
That’s why you almost never see me talk publicly about conversion rates. There are too many other factors in play: market, audience, price, retention, backend, costs, etc.
It’s about your ROI. All the other numbers are there to spot places you can improve the ROI.
It’s no coincidence the most successful marketers I speak to also know the most about their numbers. They might not have the numbers at their fingertips, but they know where and how to find them when needed.
It’s funny. Tell people you have a way to drive dirt cheap clicks to a website, and they’ll rush to hear your story.
It doesn’t even matter if they buy anything. It’s just exciting to have ‘cheap’ traffic!
Start talking about how to improve your conversion, and many shut their ears.
It’s not exciting enough.
Talking about tracking really turns people off.
That’s why tracking is what separates the winners from the losers.
I use a lot of different methods to track my advertising.
Counting basic conversion from a site can be as easy as looking at your unique visitors versus the number of sales you made this month.
The default method I use is simply the ad tracker built into my shopping cart: www.Netofficetoolbox.com
I set up a new tracking link for each new ad and can see all sales generated through that link.
A much more advanced tracking system would software you install on your own server such as: https://www.mymarketingcoach.com/tracking
This can be set-up to track virtually everything including adding codes into your follow-up emails.
Both the above are affiliate links.