Information Marketing Measurement Systems
I’ve started a very specific routine for keeping my weight “in check.” It involves getting on the digital scale every morning when I wake up and every evening before I go to sleep. Some people may think this is excessive. I don’t. If you’re really interested in losing or maintaining your weight, then you need to monitor it OFTEN.
How does this relate to your website and the selling of your info products? Simple. If I were to take a random survey of 1,000 people who sell information, I’d ask them this question: “Do you have a way to track the four most important elements of success on your site?”
The natural follow up question you’re asking is: What are the four most important elements that you need to monitor on your site?
1. Unique Visitors: Without an idea of how many unique people come to your site, you won’t be able to know how your marketing efforts are going. You’ll have no way of assessing your efforts to drive people to your site.
2. Conversion to Sales Rate: Let’s say you get 100 visitors to your site. Out of those 100 people, 4 people buy from you. Assume you’re selling a $50 digital product. The conversion rate is 4%. Four out of the one hundred people bought something, so your sales conversion rate is 4% in this example.
3. Conversion to Email Sign Up: In the event that 100 people visit your site and 4% buy, there are also 96 people who are about to leave without buying. If out of those 96 people, 22 people sign up to receive your ezine or special report, you have a conversion to email rate of 22%.
4. Average Visitor Value: In the above example, 4 out of 100 people bought a $50 product. The total dollars generated is $200. Divide $200 by 100 and you get $2. That is your average visitor value. This piece of data is critical because we live in a pay per click world. If you can BUY clicks for $1 and your average visitor value if $2, then you want to do this as many times as you possibly can!
Make sure that you have Google analytics or some other method of tracking set up on ALL of your sites. Also make sure that you can get instantly put your hands on these four critical tracking elements.