Are You Flushing Money Down The Toilet?

Mon, Apr 26, 2010

How-To & Tips

Are You Flushing Money Down The Toilet?

Are You Flushing Money Down The Toilet?

Tracking Marketing Campaigns or Flushing Money Down The Toilet?

Tracking Marketing Campaigns or Flushing Money Down The Toilet?

Have you ever felt that whatever you do or try to make money online or develop your business does not work? You know what it is like, you get like 50 emails a day from “gooroos” stating that they made $xxxx per day and how easy it is, but all you seem to see is minus dollars, basically losses!

The Chances Are You Are Flushing Money Down The Toilet!

To be honest there are many different reasons why this may happen to you. And it would be impossible to cover every single angle that you may be losing money. However I am going to base this on my early experiences in the game.

I Lost Money Because I Wasn’t Tracking My Marketing Campaigns! - Period!

When I first started marketing I jumped into paid methods and threw some money at it - big time! I figured If I throw enough money at it I would surely get a freak winner!… WRONG! All I did was lose more money by not tracking my marketing efforts.

It Is Actually OK To Lose Money……. IF……

One of the biggest lessons that I learned was that if you are using paid strategies it is in fact OK to lose money, yes I did just say that! But the big IF is, “IF” you learn from it. You see marketing without tracking your marketing efforts is like flushing money down the toilet.

Even if you get some conversions you are not sure how and why, and how to scale it, are you with me?

Even If It Is Free Marketing - TRACK IT!

This is not only relevant to paid strategies, if you are marketing for free, such as blogging, you still need to see where your traffic is coming from so you can learn where to “invest your time” more smartly.

How Can You Start tracking Your marketing campaigns?

Well, I could spend ages talking about different methods of tracking but I will give you a high level. If you have an off the shelf funded proposal like MLSP then you can use the tracking built in. If not there is a free resource called Prosper202 it is a self hosted version of Tracking202. This is what the majority of affiliates use and works really well.

If You want More Geeky Info On Tracking Let Me Know, Do you track your results?

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  • matthewpedler

    Hey Dwayne,

    With out tracking you are throwing away money, It's that simple..

    I learned this the hard way on a PPC project when I first started out online.

    high views, great ctr, low cpc,..... oh but not a single person actually did anything....

    cheap clicks that go nowhere really aren't cheap at all, you have to track everything.

    Thanks,
    Matt

  • Hey Wayne,

    I've played the "flush your money down the toilet" game before. I learned some valuable lessons. The biggest one was to see which campaign / approach was working. Since then I've implemented tracking mechanisms to see what results are good ones versus which ones I should no longer pursue.

    It was a good lesson I would rather not have to go through again.

    Jerome Ratliff

  • There is a saying we had in the Army. The Commander will ask, "Are you tracking"

    And you respond, "like a guided missile"

    I think that works well here. You can hit the ground off course in the middle of some farmers field, (like a scud) or you can nail it through the living room window from 100miles away.

    In essence, tracking means you can course correct. If things are not going in the right direction you can tweak it just a little to bring a big result.

  • Hey Chris,

    That's it, you can see straight away if you are going in the wrong direction and save a lot of time and money.

    Interesting comparison there my friend :)

  • I love this post, Wayne!

    Tracking is where it's at -- otherwise it's like trying to read in the dark...

    How are you supposed to know how to best spend your time (and money)?

  • Hey Derek,

    I knew you would like this one. I have noticed you have been upping your PPC game lately, so as you know it is essential when you are using that traffic source.

    Thanks for passing by.

  • Hey Wayne,

    It's important to track your results. I track them daily. This way it shows me where I need to spend my time.

    I like PPC, but let me tell you I've learned the hard way. I used it first when I ran my Real Estate Company. I made a lot of money and I wasn't really monitoring it. Until I decided to track it. Wow!!! I was able to spend less and still crank in the business.

    Same applies to my business right now. Thanks for sharing this info and the tracking tools.

    Chat with you later...
    Josh

  • Hey Cool Josh,

    A hidden PPC master eh! I will remember that! ;)

    Thanks for passing by.

  • I'm guilty as charged with not tracking results as I should be doing.

    Not ready for PPC yet, but I could be tracking what I'm doing thus far.

    Thanks for the tip!

    Have a great day!
    Twila

  • Hey Twila,

    Naughty naughty! (ha)

    No worries, sure you will when you get time, as I mentioned it is still good to do it for free as well as paid.

    Thanks for passing by my friend.

  • marcusbaker

    Wayne tracking is all about increasing efficiency and results so if you don't want to do this then I don't think you should be in business. Business at it's most basic is about minimizing expenditure while increasing profits. Thanks and have a great week.

    Cheers
    Marcus

    ~Marcus Baker~
    Attraction Marketing Specialist

  • Hey Marcus,

    Agreed buddy, the cheaper and more effective the better! :)

  • Hey Wayne,

    I know I need to get better at tracking. I haven't jumped into PPC yet but you're right, I should be tracking everything, and I know I could do better.

    Thanks for the reminder!
    Susanna

  • Hey no worries susanna.

    Thanks for passing by.

  • Wayne

    Learning lesson is the name of the game. With PPC you have to lose to win. The losing is the learn curve so the money lost is really a valuable lesson. But as you say only IF you learn.

    I track my stuff and it really helps to show me what works or what isn't working so well. This way I know how to best tweak what I am doing for the best effect.

    Happy Monday
    Dwayne

  • Hey Cool Dwayne,

    It is a bit boring going through the stats, but that really improves your business.

    Thanks for passing by.

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