Here’s a question Matt Lloyd, the Owner of MOBE My Own Business Education, gets a lot…
“If you’re a new affiliate, what kind of metrics should you be tracking; and how often should you monitor these numbers?” When and how should you track your metrics?
That’s a very interesting question. So let Matt show you,
The Top three ways to track your metrics when starting out
If you are brand-new to affiliate marketing, you should avoid this one common mistake…
Beginners tend to over-complicate the numbers, and they tend to over-do it when analyzing their marketing metrics.
For example, if you wanted to spend the time, you could literally spend days digging into the little nitty-gritty numbers–Looking at things like your lead page “opt-in” rate, your Ad “click-through” rate, and your email “open-rate.”
It took me many years of being in the industry to realize this, but at the end of the day it all comes down to this…
When you’re paying to send traffic to your affiliate link, you must remember with any marketing campaign you do—it all comes down to how much do you spend vs. how much you get back?
Manage Costs vs. Overall revenue
Your costs vs. overall revenue is your most important metric…
When you compare them to each other, you’ll know exactly how profitable you are. And trust me, my team is spending thousands of dollars in marketing every single month.
We are spending real money, and we’re not doing little campaigns here—we are putting real money on the line.
Every day, you should spend some time learning how to track your metrics.
So every single day, I’m getting updates from different people on my team in our traffic department updating me about new invoices we have coming in.
I always stress that we need to know EXACTLY how much we spent, because a lot of these buyers for our high-ticket affiliate marketing could be $2,000, $5,000, or even $50,000 and up.
This may sound like a simplistic way of looking at it, but at the end of the day that’s really all you should care about—How much money did you invest, and how much did you get back?
How long will it take for you to make money?
The next question you might have is, “How long does it take to calculate my return on investment (ROI)?”
You need to give it some time with your marketing campaigns. It takes at least two-or-three months to build metrics, because you need a baseline of your average numbers before you start changing anything.
But if you CAN’T remain patient, if you change everything just three-days into a paid-marketing campaign, you won’t make much of your money back.
Now don’t get me wrong, it’s ok to track your campaigns and get updates every day… but just give it some time before changing anything.
The 90-Day Rule
You cannot start to really judge if a marketing campaign is successful until at least 90-days have passed. Give it at least 90-days before making a judgment on the performance.
You will rarely be able to tell if any traffic campaigns are profitable within 30-days. After 60-days, you should be getting close to breakeven. After 90-days, you’ll really be able to look back at your metrics to see if you are being profitable.
Here’s the best part about once you hit breakeven and you’ve made all your money back…
You’ve acquired a new business asset. The new asset? Your new customers.
Now that you have new customers on your list, you can start building a new relationship. And in the future, you can keep sending them more offers—‘back end’ offers.
You should always be making additional offers to your list as long as you have their attention and their interest. Just continue making additional offers to them until they buy, or until they unsubscribe (which could take years).
Keep making offers to your list—that’s where you’ll make the big profits in this business.
Most new affiliates are very short sighted. They expect to be making huge profits within a few days or a week.
Most people get brought into the business with all the hype and the dollar signs, so they have high expectations from day one.
You should always keep in mind that this is a real business…
And even if it takes you some time, if you keep making offers to your list, it can be enormously profitable.
To sum it up, keep track of the following important metrics for your business:
- 1. How much do you spend versus how much you get back?
- 2. Follow the 90-Day Rule and give your marketing campaigns at least 3-months to build up some good measurable metrics.
- 3. Keep making offers to your list—and that’s where you’ll make the big profits in this business.
If you implement these techniques, I’m very confident you will make a lot more money in your business.
I’m working with an amazing, team of extremely successful people and top business advisors all over the world to achieve this goal.
Everything is in place… we’re already getting phenomenal results… and our very best is still ahead!
Why should you care about my goals?
It’s simple: We believe our High-Ticket Affiliate Marketing (HTAM) business model will get us there—to at least $100 million in sales every year.
And it can help you make money too, because we can show you how to use this high-ticket online business model to make a lot more money too!
If you’re interested in getting paid $1,250… $3,300… $5,500… even $10,000 commissions for every sale you make…Click HERE
Thanks to Matt Lloyd for this great advice.
PS Checkout another one of my posts where Matt sends one of his best consultant newsletters.