The Top-Three Ways To Track Your Metrics When Starting Out
Looking at things like your lead page “opt-in” rate, your Ad “click-through” rate, and your email “open-rate” it's not your most important metric, when you're paying to send traffic to your link.
With that being said, what kind of metrics should you be tracking and how often should you monitor these numbers?
Your most important metric.
When you’re paying to send traffic to your link, it all comes down to how much do you spend vs how much you get back.
This may sound like a simplistic way of looking at it, but at the end of the day that's really all you should care about—How much money did you invest, and how much did you get back.
Your costs vs overall revenue is your most important metric and when you compare them to each other, you’ll know exactly how profitable you are.
It's important you do it right now, because it's an habit that will become extremely important, when you're spending thousands of dollars in marketing every single month.
You need a baseline of your average numbers before you start changing anything.
It takes at least two-or-three months to build metrics.
You cannot start to really judge if a marketing campaign is successful until at least 90-days have passed. Give it at least 90-days before making a judgment on the performance.
You will rarely be able to tell if any traffic campaigns are profitable within 30-days. After 60-days, you should be getting close to breakeven. After 90-days, you'll really be able to look back at your metrics to see if you are being profitable.
Here's the best part ...
Once you hit breakeven and you’ve made all your money back, you’ve acquired a new business asset: your new customers!
Now that you have new customers on your list, you can start building a new relationship. And in the future, you can keep sending them more offers—‘back end’ offers. You should always be making additional offers to your list as long as you have their attention and their interest.
Just continue making additional offers to them until they buy, or until they unsubscribe (which could take years).
And even if it takes you some time, if you keep making offers to your list, it can be enormously profitable.
To sum it up, keep track of the following important metrics for your business:
How much do you spend versus how much you get back
Follow the 90-Day Rule and give your marketing campaigns at least 3-months to build up some good measurable metrics.
Keep making offers to your list—and that's where you’ll make the big profits in any business.
Whether you're starting something new, want to optimize your work or focus on growing your business, here you can find actionable steps you can take to simplify your business and marketing online and off.