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During my mentors’ $18k 8-day seminar, he shares some
extremely powerful advice and strategies for building wealth.
I’d like to share with you his 7-step plan to building a successful,
profitable business. I have changed it slightly to fit making money online.
1. Choose a Business Model
2. Become Passionate!
3. Learn from the Best
4. Build Your Perception
5. Tweak and Improve
6. Scale Sky-High
7. Automate Your Business & Repeat!
I will cover each of these crucial steps in detail over the next couple
of days. Today we will talk about tracking and improving your results.
Step 5 – Tracking & Improving
This will be a very short post/step as how you track and improve
depends completely on your business.
However what I want to cover is simply the importance of tracking
every single click, every link, every conversion and everything
that your visitor does. This is crucial in every online business.
I often see the “I’ll do it once I am successful” theory taking place here…
The very same theory that somehow convinces people to wait with
building their mailing list until they already have visitors and revenue.
Just as Step 4 which was building your perception to create a new
reality, you have to set up proper tracking and be ready to tweak
and optimize before you start sending hordes of traffic to your offers.
Here is a very simple example.
John decides to join MTTB. He wants to build a list (well, at least he
made one good decision!) and so he creates a landing page where
he will want to get his visitors name and email.
He spends some time creating a landing page and once he “feels”
that it’s good, he buys some traffic to it. His opt-in rate is 30%
and he’s happy – because he doesn’t know that he’s essentially wasting money.
Annie also decides to join MTTB and build a list. Unlike John,
she creates 10 different landing pages and sets up tracking for each
and every one of her pages to see which one is the best.
After buying some traffic and sending it to her pages, her worst page
(which she still thought was “good” while building it) got a 27%
opt-in rate, while her best page got a whopping 53%.
Now Annie can remove the 7 bad pages and continue optimizing her
top three until she finds one clear winner. That winner gets her 56%.
Both Annie and John buy 2000 clicks to their pages.
Annie gets 1120 new subscribers, while John gets 600. John spent
nearly twice as much money to gain a new subscriber – he now has
a twice harder job breaking even/getting profit!
Both have spent the same amount of money, but Annie will now
grow geometrically faster than John! What’s more, John might not
even break even (no pun intended) – and he’ll go out of business!
I know that this is a very, very simple example but it shows the importance
of tracking and tweaking your pages/funnel/whatever.
If I haven’t made myself clear yet – set up advanced tracking from
day 1! Don’t throw money down the toilet. Just do it!
Once you’ve tested your pages/funnel with some traffic and chosen
a “winner”, it’s time to scale as much as possible!