span will hear internet marketers
class="cap">I n any refer to getting a 1%, a 3% or
business, online or even 4%. Conversions are figured
offline, it's important to know by taking your total number of
your numbers. Many business sales for a given period, and
owners get lost in the day to day dividing that by your total
things and forget to watch their visitors for that same period of
stats (statistics). Online, you time. So if I had 3 sales last
can track your website stats very month, and 100 visitors to my
easily using google analytics and site, thats a 3% conversion. It's
your shopping cart software. Here best if you know this stat down
are five stats you should be to the second decimal place, like
keeping about your site. 1.67%, because improving your
#1. The number of leads. Leads conversion even .5% may be huge
online are referred to as to your revenues.
visitors, or traffic. For your
#3. Average dollars per sale.
sales pages, you need to know the This stat refers to how much you
unique visitors. If you are make per sale on your site. If
checking the stats for a blog, you only sell one item on your
you might want to see daily website for $50, then your
visits or visits to each post. average sell will always be $50.
You can get traffic to your site But if you have an upsell, or
from various sources: additional items for the buyer to
Pay-Per-Click, search engines, purchase, you will have varying
social bookmarking sites, your numbers to look at. To figure
blogs, other peolpes blog, your your average dollars per sale,
email list, and more.
take your total amount of money
#2. conversion percentage. collected for a given time, and
Conversion is a very important divide by the number of customers
number to watch. Many times you during that time. If you made 23
sales last month, and collected year!
$5000 in total revenues, then
#5. Net profit. Many
your average dollars per sale is businesses will track their gross
$217.39.
revenues, but never know their
#4. Average number of net profit. This is a very
transactions per customer. This important number to know because
stat is key to a stable long term it tells you if you are making
profitable business. This number money or loosing money. A true
tracks how many times a customer (unless you are a nonprofit!)
buys from you. Customers that buy business makes a profit. If you
from you once, are likely to buy are loosing money each month, and
from you again, if you stay in don't know it, you really just
contact with them. Also, have yourself an expensive hobby.
marketing to current customers is This number is easy to get. Just
always less expensive than take your gross revenues for the
acquiring a new customer. To get month, quarter, or year and
this stat, take your total number subtract out your business
of sales for a given time (month, expenses. Business expenses are
quarter, year) and divide it by what you need to buy and spend
the total number of new customers money on to run your
you got during that time. If I business.
had 2000 sales of my widget last
If you look real hard at the
year, and had 200 new customers first 4 above, you should realize
come into my business, then my that increasing any or all of
average number of transactions them at once can greatly increase
per customer is 10. That means your net profit. What if you
that every time you acquire a new increased just one by 5%, what
customer, based on last years would that do to your profit? How
stats, you can expect them to buy about if you increased all four
10 items from you over the next by 10%?
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About the Author:
Brody Gatliff invites those looking for an online business opportunity to Discover The Foolproof Method of Making Money Online at: http://www.monthlymentorclub.com Internet Marketing Mentor Monthly
Article Tags: business, number, time
