Whenever I get to peek under the hood of a prospective or new client’s business, two things usually stand out.
The first thing is they lack a process for tying sales goals to KPIs and building action plans around that process.
Sure, they’ll have an approximate monthly sales goal, and they may be tracking a few select metrics like cost per lead, landing page conversion %, and so forth.
But they often lack a complete model that takes into account the sales goal, all of the key touch points of the funnel, how they all need to add up to equate to that sales goal, and how to optimize the ad campaigns and funnel to actually reach those goals.
Simply put; paid advertising is all about formulas and numbers.
So starting out with specific projections at the beginning of any given campaign is key to knowing what to focus on to actually reach overall sales goals by the end.
Moving past this, the other major issue is how data is actually being tracked.
Some have Google Analytics installed, few are using it properly which means tons of data that could be used to optimize campaigns and drastically improve ROI is simply not available.
A lot of companies are not using Google Tag Manager either, which means they have pixels and tracking codes embedded directly on pages, poorly organized, and surely leading to misfires that again prevent that business from collecting extremely valuable data that is required to improve campaign performance.
If your business has an established process for setting projections, tracking KPIs, and collecting KPIs then you’re already ahead of the curve.
Look out for the next step in the process in tomorrow’s email.
But if your business doesn’t have these processes down, it’s time to consider doing so.
The difference it makes could mean the difference between taking a loss, and having profitable campaigns that last over the long term.
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