Just about everyone marketing online has heard of the importance of website tracking…it’s about measuring what’s important to your business results. Well, at the top of the list is the need to track how your “money sites” are performing.
Specifically, I’m talking about google analytics tracking…measuring traffic and conversions for the Optin and Sales pages sequences for every one of your products. This is as easy as placing several lines of website analytics code onto each of your webpages.
Website Conversion Stats Example
Opt-In Conversion Rate
Number of people who opt in to your list divided by
the number of hits on your opt-in page (visitors to your page)
Example: You need to do these calculations for every one of your optin to sales sequences…for each product. Google Analytics makes this easy for you.
-Let’s say you have 100 unique visitors to your opt-in page, by any traffic-generation method you use (Articles, Adwords, etc.)
- Say 30 of those people opt in to your list.
-So, 30 (optins) divided by 100 (hits) = 30% opt-in conversion rate
Sales Page Conversion Rate
Number of people who buy divided by the number of people
who visited your sales page (opted in)
There are 2 ways to measure conversions onto your Sales page.
1) Percentage of Unique Visitors to Your Sales Page from Those Whom have Opted in.
-Let’s continue with our example above, where you had 30 people actually opt in and get taken to your sales page. And let’s say you made 6 sales worth $50 each.
-6 divided by 30 = 20% conversion on your sales page for people who actually see your sales page.
2) Percentage of Unique Visitors From the Entire Sequence… Opt-in Page thru Sales Page
-That’s not the end of the story, though. Now let’s see what type of overall sales conversions you have, looking at your conversion rate from visitors to your opt-in page to sales.
-6 sales divided by 100 visitors to your opt-in page = 6% conversion rate from opt-in to sale.
Value of a Visitor to your Opt-in Page
This is calculated from your monthly sales $ for a particular product divided by the number of unique visitors to your opt-in page over the same time period.
Example: Determine your total Sales Revenue for the period (6 sales X $50 = $300).
-You made $300 revenue from 100 visitors to your opt-in page.
Divide your revenue by the number of visitors ($300 divided by 100 = $3 revenue for each person who visited your opt-in page).
-Use this figure to determine how much you can spend on paid advertising to get a visitor to your opt-in page.
-If you make, on average, $3.00 revenue for each visitor who sees your opt-in page, you can pay up to that amount to get a new visitor to your page and break even on your 1st sale, assuming that all new paid traffic is incremental revenue. Pay less per visitor and make profit. Pay more and you will have to make up the difference in back-end sales.
And, if you have additional business costs on each product to cover while you’re advertising, then you’d budget less per click through to your optin page. Know your numbers!
What Do The Numbers Tell You?
We’ve already shown the value in helping you determine your advertising budget. But also, remember that it’s far easier to enhance the lifetime value of existing customers than to be constantly looking for new prospects.
So, work to improve the conversion ratios by split testing aspects of your pages, such as 1 headline against another or 1 font style against another. And constantly upgrade your pages to the winner. Consistent website tracking translates into more optins and sales…and ultimately, more profit to your bottom line.
And, in case you missed our recent teleseminar about all the things you should track in your business, you can still get it in our free Membership area at BBSTutorials.