Tracking Online Revenue: How to Manage Your Marketing Dollars Effectively
Release Date: Feb 01, 2008Utilizing a high-quality website tracker is essential in monitoring your online marketing budget. Without the proper tools, it is near impossible to accurately identify what is and is not working in your Internet marketing plan. A tracker allows you to examine your online revenue and make adjustments to which channels you distribute your marketing funds to accordingly. The following RezNEWS feature article discusses the importance of tracking your website’s online revenue and outlines how quality trackers enable users to monitor and subsequently allocate their marketing dollars effectively.
How do you choose the proper tracker?
A quality tracker collects data in real-time, allows for custom action tracking, is password protected, and tracks revenue from online channels. The RezStream Return on Investment (ROI) Tracker delivers on all these instrumental functions. Without tracking revenue we can only gather clicks, and clicks do not equate targeted traffic (i.e. intended traffic) that will render critical conversions.
Note: Trackers should either examine user action or revenue in order to be most effective.
There are a number of trackers that exist today. There are log based trackers and script oriented trackers. Log based trackers analyze the web server log files, which is set up with web hosting. Most hosted tracking systems use cookies or IP addresses (or both) to tell which page requests are coming from the same visitor. Script based trackers are tracking systems which are installed on each page of a website and allow users to track detailed information about the clicks and the performance of their ads.
The following are examples of the data the RezStream ROI Tracker can provide and why it is important for every online business to have a similar tool.
Note: One should only compare statistics within the same tracker, as they all track data in a different way.
- Pay Per Click Accounts
The cost for pay per click campaigns continues to rise as more businesses start online marketing campaigns. Without proper information, some companies may tend to steer away from pay per click advertising in fear it is not cost efficient. With a professional tracker, businesses can see exactly what their ROI is with their pay per click accounts and will see a high return on investment when properly managed.
In the following example we can see that this client has made $3,335 in online bookings from their pay per click accounts in this particular month. At which point, we can analyze which keywords in the pay per click accounts are producing clicks and adjust the budget and bids accordingly. This enables us to determine whether or not to increase or decrease the budget in order to achieve a greater ROI.
- Link Building, Directory Submissions, Free Listings
The amount of spending for link building and search engine optimization (SEO) can be endless depending on the competition and budget of the company. While most businesses do not have unlimited budgets, it is crucial to ensure you are getting the most out of your money. Some directories or links are ideal for SEO purposes, while some should be analyzed strictly for bringing in more revenue.
In the following example we can see this business made $5,655 in the free Google listings so far this year. We can also see that the directory www.bedandbreakfast.com, produced $1,798 in online bookings for them. With this data, we are able to analyze their RIO and make productive adjustments in where fund are allocated.
- Email Marketing
Sending out newsletters is cost effective depending on the business utilized for the service. A good tracker will be able to show you how much online revenue was generated from each email “blast” opposed to simple clicks through to the website. This enables businesses to further determine the best format and content of a blast for sales. For more information regarding email campaigns, contact our sales team at 866-360-8210 or .(JavaScript must be enabled to view this email address).
In the following example we can see this client made $1003.40 from a newsletter blast sent in January, 2008. Due to the revenue generated for this customer, RezStream determined that it was cost-effective for them to send out monthly email campaigns.
- Website Design
A functional tracker can indicate a successful website design. By viewing the top requested pages we can assure that visitors are navigating to the pages of the website we want. For example, if we were to distinguish that the top requested page was a property’s “attractions” page, we would know there is something inaccurate with the design. Perhaps the navigation order highlights the attractions page instead of a “money” page. Businesses can often get attached to their websites and consequently not make necessary changes. The statistics of a tracker can give proof as to whether or not the website is operating at its highest potential. RezStream has seen incredible change in online revenue numbers simply from small design changes.
Further Action Tracking:
- Jump Pages: With the example below, we are able to study how often visitors “jump” into the booking engine from different campaigns. While this model does not show revenue, it does show us where guests are navigating. If we were to see no visitors jump into the booking engine from a particular campaign we would determine the promotion unsuccessful and make quick changes.
- Forms: In the case below, we are able view RezStream’s unique tracking for clients for gift certificate forms, contact us forms, and newsletter sign ups. Forms further help us identify winning campaigns for customers.
Conclusion
A high-quality website tracker is a central component for monitoring your online marketing budget. The RezStream ROI Tracker allows you to accurately identify what is and is not working in your Internet marketing plan. Tracking your website’s online revenue is fundamental to the success of your online marketing. Your Internet marketing company must employ the proper tools and tracking capabilities in order to analyze and find the most effective directions for your investments. Where is your money allocated?
If you are interested in an online marketing plan, new website design, or the RezStream ROI Tracker please contact us at 303.872.0220 or .(JavaScript must be enabled to view this email address).
