Tracking Your Marketing Results
The internet is a vast space of unfathomable depth. It can seem even more daunting if you are not sure how you are performing. Since the first step to solving any issue is to raise awareness, it is imperative that you learn how to properly track your performance. Since there is no way of just looking at a website to find out whether or not it is successful, you are going to need some help. You will have to institute some sort of tracking software in order to monitor your results – good and bad.
An oft experienced mistake is for the fledgling website owner to not properly track their marketing results. You might think you have something set up – remember those website visitor logs at the bottom of the page? – but there is a good chance that the marketing tracking tactics you are using are not sufficient. Even if you did stumble upon a proper tracking protocol, there is always the chance that you do not know what to look for when trying to decipher your analytics.
If you expect to be prosperous in your online endeavors, you must be able to recognize where people are finding you, how much time they are spending on your website, and whether or not those visits are converting into new business. When lacking this basic information, you will not know whether or not your marketing is profitable. You will also be unaware of which gaps exist, where they are, and what is needed to solve them.
Why Is It So Important To Track Your Marketing Results?
Awareness means as much in business as it does in life in general. In order for you to reach and exceed your online marketing objectives, you must recognize where you currently are. Once this is established, then you can determine what steps need to be taken in order to reach your desired location. But the journey does not stop there. After you begin to implement your new and improved online marketing strategy, you must be periodically tracking your performance in order to fine-tune your strategy and optimize your results.
Clichés tend to hold pearls of wisdom. How else could they have survived so long and still be used to describe a particular situation? Well, several apply to marketing as well. Consider the particular adage, “I know half of my marketing is working, I just don’t know which half.” This is true on so many levels. But fear not. The internet provides you the unique capability to track exactly where you are standing and exactly where your website traffic is being generated from. Over time, this increased awareness becomes increased effectiveness and pays off in the long run.
How Do You Track Your Marketing Results?
After all this information regarding the importance of tracking your results, you might be at a loss at how to actually do it. There is one tool that towers above all else out there and that is Google Analytics. Google Analytics is a free software that gives you the ability to track just about anything that is happening on your webpage. With this specific data at your disposal, you will be able to figure out any problems, address any issues, and course correct as needed. However, should you find your website lacking in its offer and messaging, all of this awareness will be for nothing. The reason for analytics software is to see how well you offer is converting. Should you have a subpar offer, you will not have a true representation of your website’s potential.
For example, if you know that you are spending $10 in marketing efforts that are resulting in a sale that is valued at $200, then it is easy to figure out that your offer is working. If this is the case, then it is just a matter of generating more traffic to your effective offer. If you do not know how well you offer is converting, then you are left wondering where you need to focus your attention and make necessary changes.
How Could Tracking Marketing Results Impact Your Business?
We have to remind you again of the effectiveness of awareness when it comes to success. Even if you possess multiple working components of your marketing system functioning properly, it only takes one misfiring piece to throw the whole system off of its axis. If you are keeping a close eye on things and are tracking your system appropriately, you will be able to decipher where your system’s weakest link may be.
Now that you are aware of where your problem area is, you can now begin deciding on how to correct it. If you are able to do this in real time, you will be able to bring a committed and consistent flow of new business to your website on a regular basis. When you are staying committed to the tracking process, you will soon recognize that one component could be working well one month and not so well the next month. It is easy to think you have found the issue and one fix will solve all problems. This is just not the case as your marketing strategy is a living and breathing entity that will fluctuate according to the user base you are trying to reach. In a sense, tracking your marketing efforts connects your entire online marketing system and its ensuing strategies together. When this is in harmony, everything operates at peak performance.
Tracking Your Marketing Results Is A Vital Piece Of An Effective Marketing System
Without the wherewithal to tell which components of your marketing system are operating at full capacity, you won’t be able to figure which ones are working well either. Without this knowledge, you will quickly find yourself at a distinct disadvantage compared to your competitors who may be operating in the same niche and after the same audience. This information equates to long-term success or short-term existence. It is crucial that you know what is working and when and where you need to make any necessary changes. Your marketing system will only function properly when each component is working in total harmony will the one next to it.
When your marketing strategy is paying off and your marketing strategy is achieving its full potential, tracking your results will allow you to see how effective it really is. Sometimes we overestimate our ability and our performance. Tracking results is the great equalizer that will remind you no one is above one another and, at times, we all may need to make a change. Resolutions aren’t just for New Year’s Day anymore.
Now you can see how each piece of the puzzle is working off of the next and take in the system as a whole. With this new and crucial knowledge, you can pinpoint where your new business is coming from. This means that you can save costs and effort by minimizing your investments in areas that are not as effective as the others. The 80/20 principle states that 80% of your problems come from 20% of a particular area. The same applies to your revenue. 80% of your revenue is often generated from just 20% of your efforts. By tracking your results, you can be more efficient in your time, energy, and costs, while maximizing your results.