Episode 62: What metric should I focus my business on?
The only metric that anyone should focus on his conversions. I see so many people get all excited when they get optins to their list. But optins don’t pay the bills.
Conversions pay the bills. So if you are putting in $1 and not getting back at least $1, then you have to rework your funnel.
Sales, Conversion, Money in the bank. That is the metric that should be focused on the most.
If you are not getting cash back into your accounts then it’s hard to continue in business. Cash in the bank lets you buy more advertising. And when you buy more advertising your business grows.
Yes, there will be times when you spend a dollar and only get back 50 cents. That is going to happen. And its important that it does happen. That shows that you need to work on your sales funnel.
But you can’t stay long in the negative area. If your funnel does not start to bring cash back to your accounts then you will run out of money quickly.
Use a tracking service like clickmagic and track everything you do. From optins to your list, to sales. When you see the conversion happening then you can focus on that.
See what is working with your tracking and then expand on it. Then dump what is not working.