Speak to any Estate Agent (Realtor) and they will tell you the three most important aspects of buying a property are location, location, location. But from a marketing point of view the words measure, measure, measure immediately spring to mind.
First there is an old business saying - "What gets measured gets done." But for an online marketer it is important to measure your results for a number of reasons - and the biggest reason is to reduce costs. Don't spend any money on advertising that doesn't work. But what if you don't measure the output of that spend? The problem then becomes that you don't know whether or not it works, and you could be wasting serious amounts of money. Take for example a campaign where you are spending, let's say, $400 per week with four different ads costing $100 each. If each of those campaigns combined are pulling in less than $400 PROFIT between them (NOT sales value, but PROFIT) then you are losing money. However by tracking your advertising you will see exactly how each ad is performing. Three may be generating absolutely nothing but the fourth may be providing you $380, and is therefore a very profitable ad. You can then drop the first three and ramp up the fourth.
To measure the effectiveness of your advertising you will require a software solution like AdMinder to monitor all your different ads. Although there is an ongoing cost to a service like AdMinder it is easily recouped by not pouring good money after bad into advertising spend that doesn't work. So the next time you see an advertiser offering guaranteed results , you can put it to the test, if you are using an advertising monitoring solution. If it doesn't work ,you'll know not to use it again. One word of warning though. If the advertising is generating sufficient traffic to your site, but you are not converting that traffic into sales, there could be an issue with the content of your site, but I'll discuss that in a later posting.
In my next post I'll be discussing exactly what customers buy, and you may be in for a few surprises. Until next time . . . happy marketing.
First there is an old business saying - "What gets measured gets done." But for an online marketer it is important to measure your results for a number of reasons - and the biggest reason is to reduce costs. Don't spend any money on advertising that doesn't work. But what if you don't measure the output of that spend? The problem then becomes that you don't know whether or not it works, and you could be wasting serious amounts of money. Take for example a campaign where you are spending, let's say, $400 per week with four different ads costing $100 each. If each of those campaigns combined are pulling in less than $400 PROFIT between them (NOT sales value, but PROFIT) then you are losing money. However by tracking your advertising you will see exactly how each ad is performing. Three may be generating absolutely nothing but the fourth may be providing you $380, and is therefore a very profitable ad. You can then drop the first three and ramp up the fourth.
To measure the effectiveness of your advertising you will require a software solution like AdMinder to monitor all your different ads. Although there is an ongoing cost to a service like AdMinder it is easily recouped by not pouring good money after bad into advertising spend that doesn't work. So the next time you see an advertiser offering guaranteed results , you can put it to the test, if you are using an advertising monitoring solution. If it doesn't work ,you'll know not to use it again. One word of warning though. If the advertising is generating sufficient traffic to your site, but you are not converting that traffic into sales, there could be an issue with the content of your site, but I'll discuss that in a later posting.
In my next post I'll be discussing exactly what customers buy, and you may be in for a few surprises. Until next time . . . happy marketing.
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