I have a quick question for you.
Do you track all of your business marketing?
If you aren’t tracking everything, are you at least doing it in the areas where you are spending the most?
How Are You Tracking Your Marketing Campaigns?
Are you tracking your online marketing in a similar way to your offline campaigns?
The smart business owner will typically place a trackable coupon or phone number in their newspaper and local magazine ads. This way they can track their print ads and quickly determine whether to invest again. If you don’t do this, something I see all the time, you are really shooting in the dark.
It reminds me of the U.S. businessman John Wanamaker who famously said the following in 1922,
“Half the money I spend on advertising is wasted — I just don’t know which half.”
Fortunately, Google Adwords will allow you to fare far better than Mr Wanamaker ever did because Google has built conversion tracking into their Adwords system. You thus have the option to automatically track leads, email sign-ups, calls and appointments. You get to see exactly what is working and what isn’t.
If you are currently running an Adwords account without conversion tracking, it doesn’t surprise me if you’re upset at the way in which you are burning through your budget without knowing whether you are making a profit on your expenditure. My job is to help you overcome this frustration. You shouldn’t be in a position where despite paying for a lot of clicks you have no idea whether they turned into a decent profit for you.
If you are feeling this frustration, I recommend you take a second to pause all your campaigns and work out how much you can spend to acquire a new client and how it compares to your client lifetime value. Even simply working out the profitability of one product sale is better than making no estimations for these key metrics. You can always estimate the probability of future sales, and readjust as you go forward.
Let me tell you now, you are not alone.
From my own experience here in Fife, far too many business owners turn to Adwords without properly analysing exactly what they would like to achieve. They loosely proclaim they would like more traffic and leave it at that!
In contrast, the business owners making a solid return on their investments can break their businesses into segments and know the exact net profit for an average sales in each one of them. With this knowledge, they know how much they can spend on each of their Adwords ads and customise their campaigns accordingly.
How To Set Up Your Conversion Code To Track Your Google Adwords Conversions
Here’s a brief overview of how they set this and how you can do the same.
Google provides conversion code you can add to the thank you pages visitors see having signed up a newsletter or purchased a product. The code is only a few lines and your webmaster should be able to add this to your website in a matter of minutes. Once the code is implemented you can easily see whether you are converting your Google Adwords traffic into leads and sales.
One strategy is to offer a voucher online that they can redeem in your practice. Ideally, the visitor should have to fill in a simple form to access their voucher. This way you can follow up via email and track your successes because you have placed conversion tracking code on the page where they print out the voucher.
Once you have conversion tracking installed you immediately elevate yourself to a position where you can grow your local business because you know exactly what return you are achieving on the ad you run.
Make Sure You Link Your Adwords And Analytics Accounts Together
I would strongly recommend linking your Google Analytics account to your Adwords account. You will benefit from an even greater insight into the account performance. Select auto-tagging within Google Analytics and begin to review site usage metrics, goal conversions, e-commerce activity and revenue metrics like ROI and revenue per click.
How To Understand The Different Ways Your Website Engages With Your Visitors
Here’s my three-step process for understanding how your visitors engage with your site.
1. Check the Adwords Campaign Report for data on your campaigns, ad groups and keywords
2. Review the Day Parts report to see at what point conversions increase relative to visits. This intelligence provides you with the opportunity to increase your bids at these specific times for further profitability.
3. Visit the Overview Reports for shortcut links to commonly needed analyses. For example, you can review the actual search queries that sent traffic to your site. In addition, you can determine which placements in the Display Network drive the highest number of engagement visits.