Testing and Tracking – What is It Good For?

by Wayne Sharer

International speaker, author, and entrepreneur. Retired navy officer, former commanding officer. Over 35 years of leading, coaching, mentoring, and speaking.

December 4, 2011

Imagine trying to run a business without any idea how much money you’re making. You don’t know your inventory costs or how much revenue your business has.

How likely is this business to succeed?

Unfortunately, that’s how most online businesses run their companies. They might have a vague idea of how much money they’re making or how many visitors they’re getting, but in reality they’re keeping very poor track of their online business.

Some business owners are even surprised when at the end of the month their business isn’t profitable.

Wise business owners on the other hand track almost everything in their business.

What You Can Track, You Can Improve

If you were to ask a business owner how well his site sells, most business owners would probably give you a response like: “Pretty good.”

How difficult is it to improve a website that sells “pretty good?”

It’s next to impossible. Because there are no measurable metrics, there’s really no way to measure whether or not something you’re doing is actually working or not.

On the other hand, if a business owner could tell you “Out of every 150 visitors, we’ll make one sale for $40.”

With this business owner, you could …

  • Improve the ratio of visitors to buyers, so that one out of every 100 will buy. Or …
  • Increase the sale amount from $40 to $60 so the business makes more money per sale

Whether your efforts in increasing profits are effective or not can be clearly measured. If the numbers show an improvement, it worked. If the numbers don’t show an improvement, it didn’t work.

In short, what you can track, you can improve. What you can’t track or aren’t tracking can’t be improved.

Up Next:  Keeping a Pulse on Your Business

Latest Videos

Loading...

Other Posts You May Like…

The 5 Secrets to Knowing Why Your Sales Funnel Fails & How to Fix It

The 5 Secrets to Knowing Why Your Sales Funnel Fails & How to Fix It

Have you ever wondered why, when you make a sales funnel, just like your favorite guru tells you to, that you don’t get the huge success your favorite guru claimed?

There’s lots of reasons, but there’s a simple process you can follow to figure out why your sales funnel fails to produce like you expected. It’s easier than you think. Here’s 5 secrets to finding and fixing the problems

The Insider’s Guide to Free Blog Images for Commercial Work

The Insider’s Guide to Free Blog Images for Commercial Work

Though designing your website or blog does not begin with images as we discussed in an earlier post, images ultimately have great importance and many resources exist for free blog images and commercial use photos and graphics. The importance of images and graphics shouldn’t be news to anyone. Here’s some amazing resources…

How to Create a Website Design to Massively Generate Sales

How to Create a Website Design to Massively Generate Sales

You’ve likely asked “How can I design my website for my business, and make it really get sales and leads instead of being just a fancy, online doormat?”

It’s certainly should be important for a business that the website design you choose can actually get customers to…

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

four × 3 =

Pin It on Pinterest

Share This