Chase Every Dollar
How Can You Chase Every Dollar If You Don't Know Where It Came From!
You need to know where your money is coming from or you will be wasting time and resources with something that isn't worth the effort. If you chase every dollar you stand the chance of having a higher CTR (click through rate) which means more profits for you!
Knowing where you are getting the paying clicks can result in you may be changing your direction, What I mean is if you are using Google Adwords and Facebook Ads for a promotion you are running and the majority of your clicks are coming from the Adwords campaign then you will need to look closely at the Facebook Ads and ask yourself:-
- What is wrong?
- The headline!
- The sub heading!
- The text!
- The image!
- The ad wrong FULL STOP!!
- Have I targeted the wrong demographic?
You need to know why the Adwords ads are working, for 2 reasons
- So you can attempt to improve them.
- So you can see if you can adjust the Facebook ads to get the same result.
Time To Make Changes
Don't forget one or two of the ads may not be making you any money but they are still costing you money. To this end you are working against time but don't rush into changing the ads or taking them down too quickly.
This may be a time matter from a different angle - if your target market is mothers of per-teen kids in the US and you start your ads campaign at midnight EST, do you expect to get many clicks in the first 6 to 12 hours? I don't think you can expect to see very many as most of your targets will be in bed trying to get well rested for the day ahead!!
So to start to change the ads or take them down would be wrong you need to let them run through a time period that your target audience will be active, to that end should you be starting you ad campaign in the middle of the night when your target audience is only really active from early morning! The simple answer is NO!
Let The Tracking Begin
To know if your ads are working just look at your sales or your downloads, and that will tell you. To know which ads are working and which ones are not you need some way of tracking your links. Tracking is a method of having a signal sent back to you when someone clicks on the link, this will usually record several details for you:
- The URL of the page that the link was on.
- The IP of the machine the click came from.
- The date and time of the click.
From this information you will be able to see which ads are working and which ones aren't, also you can find out if the is a "dead time" for your ads, a "dead time" is a period when you didn't get any clicks on all your channels or some of your channels. This information will help you schedule and target your campaigns. If you want to track down all the areas that are paying you then you need to be using the proper tools for the job.
There are many plug ins for your WordPress site to track your links but one of the easiest to use is Pretty Links. There are 2 versions of Pretty links:
- The Free Lite version
- The pay for pro version
When you are starting off the free version will do everything you need and when you are up and running you can determine if there is something that you need that doesn't come with the free version and you have the option of up-grading or get something new instead.
Building a track-able link
We are going to build a link for a new post (this one!) that is going to be shared across several social media sites and we want to see which channels are actively looking at the post.
- Click on the Pretty Link in the main menu.
- Click on the +Add New Link.
- Select the Redirection Type, eg: 301 Permanent.
- Enter in the top box the URl of the post to be tracked, eg: http://brianoneill.co/chasing-every-dollar
- Enter the name you want for the link, eg: http://brianoneill.co/ced <-make sure you pick a name that bares some relation to the URL so you know what it is.
- Enter a group (optional) This is handy if you are working in several areas and want a general idea of which areas are getting results.
- Click on Create
Link Created Now What?
With the Pretty Link created and sent out to the social media sites you are going to start checking how your links are being received and get ready to make changes.
To see how the links are performing we need to click on the Pretty Links Menu, this will open the main screen. From there we can see details of how are links are doing. now we need to click on the numbers below the "Hits / Uniq" option to get a detailed look at where the clicks are coming from.The table will tell us each unique IP address and how many times they clicked it (the figure in brackets) the time the click happened, the URL and the page the link was on.
With this information we can see which pages are getting the best results, what time frame we are getting the most hits. The next thing you want to check is the links or pages that are not getting hits, you need to determine why they are not getting hits.
What to do next!
The next thing you need to do is to try and find the best ad for your target and it's a bit like "Hide & Seek" you know there is an ad that will get you better results but you need to turn over lots of rocks to find it. The best way to find it is through a process of elimination and the best way to do this is with a split test. The purpose of the split test is to see 2 things:
- Can you improve the CTR on the links that are performing well
- Start getting clicks on the links that are not working
To do this you want to start changing different parts of link to see what improves the CTR and what doesn't. It is generally best to start with the headline as this is the first thing people see and if it doesn't work it doesn't matter what is below it they are going to be gone. When you change the headline you let it run for a day or so and then check the results. You need to do this with:
- The headline
- The sub heading
- The text
- The image
- The ad layout
- The ad color -
- The background color
- The Headline Background color
- The Headline text color
- The Subheading text color
- The text color
As you can see it can be a long process but it will be well worth it in the end when your CTR increased and your costs drop, which all results in your profits going up.
Chasing Every Dollar may be a long hard road but it will be worth it in the end and if it was easy wouldn't everybody be doing it!