Categories : Finance & Information Systems Systems & Processes

 

data analyticsIn this article I want to cover why you MUST have analytics data for everything you do in your business.

You may already be aware of this at some level but it may seem too time-consuming or complicated to set up.  I want to address both these issues in this article because this mindset has certainly dogged me in the past.

I’ve even set up Google Analytics on most of my websites but simply failed to login to Google Analytics to look at the stats because the layout of Google Analytics is a bit confusing and the wealth of information provided is overwhelming.

If you set up your products on an affiliate platform like JVZoo or Warrior Plus, then you will automatically get your sales stats and sales funnel conversions but what if you want to setup your sales funnel outside one of these platforms or indeed you want to get conversion stats on a squeeze page on your blog?

Ideally you also need to be split-testing your squeeze pages ans sales pages for maximum conversions.  Again you can use Google Experiments or Goals inside Google Analytics but again you are faced with grappling with the interface of Google Analytics.

For this reason, I recently invested in a product called Funnel Trax.  But more about that shortly.

First, I want to discuss why you really must have analytics data so you are at least motivated to take this stuff seriously.

Taking action at all is difficult but finding the motivation to take action is even more difficult if you do not get immediate results feedback.

What do I mean by this?

Let’s say that I create a squeeze page and buy a solo ad to send some clicks to the page.  Without results feedback, it would be difficult to motivate myself to send more traffic if I didn’t know the results.

If it cost me $35 to buy this traffic and I received no sales from the transaction then my loss is $35 – without further information I might decide to cut my losses.

But if I also knew that, of those 10 subscribers, on average 5 would go on to buy a $47 product as a result of my email marketing follow-up campaign then that would motivate me to buy more traffic and also see if I could increase my squeeze page conversion rate.

See what I mean?  Without the right information it is impossible to make sensible and profitable decisions about your business.  It is also difficult to find the motivation to take the action you need to take unless you get immediate results feedback – that action might be to cut a loss-making marketing campaign and move your resources into something else that will yield a better result.

You probably know all this at some level already but are you monitoring your stats daily? Probably not.

Do you think this could be the key to making headway in your business?

I think for many entrepreneurs this is the key PROVIDED it is easy to set up the monitoring system and the information it spits out is easy to understand and assimilate.

This what I like about Funnel Trax.  It’s bloody simple to set up and use and it enables you monitor all your analytics data in one place.

The key point that you should take from this article is that if you’re not using data to drive your decisions, and paid traffic to help grow your business – you’re in trouble. The writing is on the wall and the people who fail to adapt will only struggle before perishing.

(P.S. With the rise of remarketing/retargeting, one of the key stats is how many pixelled leads you can gather and Cost Per Pixel)

About

Mark Salmon is an internet marketing consultant. Mark creates digital information products about starting and building an online business. Prior to starting his online business, Mark was a corporate banker based in the UK, then ran a business consultancy for around 8 years before deciding that his future was internet marketing. You can connect with Mark at: Mark's Google Plus Page Mark's Facebook Fan Page Mark's YouTube Channel Mark's Blog

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