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As a small-business owner it is easy to be overwhelmed by the amount of things you have to do. If you can track just the things on this list, your business will be in good shape on the Web.
You can track this data using Google’s built-in Analytics software. If you are a NetBiz.com client, you can get some of this data (the first six items listed below) by contacting customer service at 888.847.2226 or by making a request here.
Impressions: The number of times your ad is seen. In the case of Search Engine Placement (SEP), this can be the number of searches done as well as the number of times people hit refresh on their screen.
Clicks: Simply put, the number of times your ad is clicked on.
CTR: Stands for Click-Through Rate, or the number of clicks divided by the number of impressions. This is an important benchmark to gauge how responsive people are to your ad. The higher the percentage, the higher quality ad you have. Industry standards for search ads are around .5 – 2%. NetBiz clients usually see around 4% or higher.
Cost: This one should be fairly obvious.
CPC: Stands for Cost Per Click. If you spend $100 and you get 20 clicks, that’s $5 per click. Use this in conjunction with conversion rates (below), to calculate how much you’ll have to spend to hit the number of sales you want. Remember that clicks do not necessarily equal sales, so you’ll need to experiment with this formula to hit your sweet spot.
Average position: The higher you are on the page, the better you do in search marketing. If your average position is 4 or lower, you may need to take action to raise your placement.
Conversion Sales: How many users clicked through to your website and took some specific action. This could be purchasing something, downloading a white paper, or sharing their contact information via an online form.
CPA: Stands for Cost Per Action. Different from Cost Per Click because this tracks the cost of getting someone to do something besides, or in addition to, clicking. This might be downloading something, sharing via email or any number of other actions.
Conversion Rates: The percentage of people who land on your Web page and take the action you want (e.g., buy, download, etc.). If this percentage is low, then you can use this information to figure out what part of your website is not performing.
Revenue: Raw dollars coming in.
ROI: How much money do you make for each dollar you spend on Web advertising? Is it enough to support the rest of your business and make a profit?
Customer Geolocation: What’s the geographical breakdown of customers using your website? If you are a real estate agent, for example, you may want to know whether local clients are looking at your site. Search engine marketing ads can be targeted by region.
Time of Conversion: What time of day are most people buying on your site? There may be a correlation between spending more on advertising at a certain time of day and seeing increased sales on your site. Use this data to be where your customers are looking when they are looking.
There are additional data you can track, including customer demographics (like age, gender, race, etc.), Loan To Value, user behavior, and more. This list is a good place to start with your Web marketing. The trick is to start tracking each piece, one at a time, until you are comfortable with it. Once you master one piece, move on to the next.
Thanks to Lisa Barone for the inspiration for this post.