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To optimize your marketing, and your entire online business, you'll want to track all the money coming in and all the money going out - down to the penny.
And aside from any hard product costs and fixed expenses, most of the money you'll spend in your business will probably go towards advertising and buying traffic, so that's really what we're talking about here.
It's simple, and there are really only three parts to it. Here's all you need to do:
1. Track all the money you spend buying traffic.
2. Track all of the resulting sales and revenue.
3. Optimize, rinse and repeat.
So let's talk about how to do this in your business ...
One of the most important metrics you'll need to pay attention to, starting right now and for the rest of your marketing career, is Return On Investment or ROI.
To increase your ROI you need to either increase your revenues or reduce expenses.
And tracking is the key to both of these things.
Let's go ahead and make a list of the things you need to track ...
1. All of your ads, promotions, or other sources of traffic.
2. Your "Action" and Sales Conversion Rates.
3. Your ROI for each individual source of traffic.
That's all you really need to worry about for now.
It takes just a second to create a new tracking link for each new ad or promotion, or you can use one or more links with "Sub-IDs" which we'll talk about in a bit.
For now you can just think of Sub-IDs as unique identifiers that you can add to the end of your tracking links in order to track multiple things using one link ...
For example you might create one tracking link for your Google ads, another tracking link for your Facebook ads, and another one for your YouTube ads, and then use Sub-IDs with each link to track the specific keywords or ads generating clicks and sales.
In this way you could track all your Google, Facebook and YouTube ads with just three links that you can set up in a few minutes, rather than having to create a separate tracking link for each ad or keyword.
So regardless of what you're doing online or where your traffic is coming from, the first step is to start tracking all of your incoming clicks as best as you can.
The more accurately and precisely the better ...
Remember, you can't optimize what you don't track.
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