- 13 May, 2014
- Jon Tucker
- 0 Comments
If you were able to know for certain how much money was going to be generated by a marketing campaign you were running, would that be helpful? In this episode of The Compete Marketing Group Show, we share a competitive business strategy that we use to know exactly what results will be produced by a campaign and how we use that data to dominate industries we’re in.
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Today, we’re going to share advanced tactics that we use, to know exactly what results will be produced by a campaign. And then how we use that data, to dominate certain markets that we have businesses in.
Tracking Your Website Numbers Is Powerful For Your Business
One of the most powerful things that you can do if you’re running a website is to track your numbers carefully. And this might sound basic but:
- Of course, you need to know your numbers.
- Track the number of people that are coming to your website.
Questions You Need To Ask Yourself
Maybe you think you already track that information, and you already know your numbers. But ask yourself these questions:
- Do you know exactly how much it costs you to generate a lead or to produce a sale on your website?
- Do you know how that number changes for social media visitors versus visitors that come from a specific online advertising campaign?
- Another question that you should ask yourself is, do you know exactly how long it takes to turn someone from a brand new website visitor, that has never been on your website before, to an actual lead or a close sale?
- And again, do you know how that number changes between different channels of website traffic that you receive, such as social media visits or maybe a direct mail campaign?
- The last question that you can ask yourself is, would you write a check for $10, $20, $30,000 based on those numbers?
- Are you that confident in the numbers that you know right now?
How To Know Your Numbers
What we want to talk about today is how to know your numbers, at an extremely granular level. You want to be able to measure everything that happens on your website: Know about;
- The number of visits that come from different channels
- The number of leads and sales that come from different channels
- The profitability of sales from different channels
You need to be able to segment all of this data, so that you know exactly what the numbers are, for all the different ways that people can find your website.
- Whether that’s people coming from Google
- Online advertising campaigns, or
- Other ways that people find your website
Powerful Website Tracking Tools
Now, Google Analytics or rather simple website tracking tools are sometimes not enough to have this level of granular data. You need a tool that automatically tracks everything.
Two of the specific tools that we’ve had good experiences with is:
- Kiss Metrics, and
They’re definitely great options, but they’re also quite expensive. But these are tools that can help you dominate different markets;
- If you’re in a position where you’re trying to scale up your business or wanting to double the business to really grow things quickly now that you have a solid foundation in place.
How We Use These Tools In Some Of Our Businesses
One of the things we’ve talked about in other episodes, that applies directly to what we’re talking about in today’s episode, is how we use these tools in some of the businesses that we actually run.
In addition to managing client businesses and doing client work, we also own and operate a number of our own businesses. And so;
- We use these tools, and these principles, to know exactly what works in a particular market
- We track all of these numbers, and
- We know exactly what produces results in that particular business
Then we put money behind that, to actually scale up those particular campaigns, as long as the metrics remain healthy.
So for example;
- If we go into a market, and we see that a certain type of online advertising campaign performs extremely well, and
- Even if it’s incredibly expensive to run that campaign, we know that it’s profitable,
- Because we’re able to track data at a very, very granular level.
Then we’re able to use that information, to scale up that campaign, while other competitors, that might not be tracking the data as closely, might be weary of putting that much financial resource behind a campaign that they don’t know for sure that it works.
Using this type of information,
- We’ve been able to go into a number of relatively, what we call “unsexy industries,” where, competitors are not that advanced. And the marketing campaigns, and the tracking that’s being done by the other competitors in the market, are not that advanced.
- We’ve been able to go into those industries and do very well. And so we wanted to share some of these details with you today.
A Quick Recap And Next Actions
If you’re already running a website, and tracking your website visitors, that’s definitely a good first step. These advanced tools are for businesses that are looking to grow into scale, once they have their foundation in place.
If you’re interested in learning more about how you can use these types of systems, feel free to contact us. We’d be happy to do an initial consultation, to
- Review what data you have in your business right now, and
- How you can use some of these more advanced tools,
- To really know, for certain, exactly what results will be produced, for different campaigns in your business, and
- How to use that information to dominate your industry.