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In episode #550, Eric and Neil briefly lay out seven important stats you need to track. Tune in to hear what you should absolutely be checking in on every week.
Time-Stamped Show Notes:
- [00:27] Today’s Topic: The Marketers Checklist_7 Stats You Need to Check Every Single Week
- [00:38] #1: Check week over week search engine traffic.
- [00:59] Make sure you haven’t been affected by a Google update or penalty. 5 or 6% is a big change.
- [01:42] #2: Check cost per acquisition.
- [02:20] Look at gross profit LTB and fully loaded cap.
- [03:00] If you are not improving your LTB, you can’t compete.
- [03:25] #4: Check critical conversion rates
- [03:45] It can make a massive impact on your business.
- [03:56] #5: Check international traffic and conversion numbers.
- [04:15] When it’s big enough, consider translating to increase conversions.
- [04:50] If you don’t check, you won’t know where to expand!
- [05:00] #6: Track organic keywords.
- [05:05] Use Ahrefs or SEMrush to track.
- [05:30] You need to know which keywords will have big business implications.
- [05:52] #7: Use Google Search Console to check your impression count.
- [06:18] Your impression count may increase before your click count.
- [06:35] Try clickflow.io which will help you track this.
- [06:41] That’s it for today!
- [06:43] Go to Singlegrain.com/Giveway for a special edition of Crazy Egg, the heat mapping tool.
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The post The Marketers Checklist: 7 Stats You Need to Check Every Single Week | Ep. #550 appeared first on Marketing School Podcast.
Full Transcript of The Episode
You're listening to Marketing School with your instructors, Neil Patel and Eric Siu.
Eric Siu: Welcome to another episode of Marketing School. I'm Eric Siu.
Neil Patel: And I'm Neil Patel.
Eric Siu: And today, we are going to talk about the marketer's checklist. These are seven stats that you need to check every single week.
So Neil, what is number one?
Neil Patel: Number one is your week over week search engine traffic. You can find it in Google Analytics. It ends up breaking down your organic traffic. The reason you want to look at it week over week ... And specifically, you want to compare this Monday to last Monday, this Tuesday to last Tuesday. And you want to keep doing that. You'll see if things are going up, down, they're flat.
If you notice a variance of over 6 or 7%, and it keeps going down by that much, usually you got affected by a Google update or a Google penalty. And, especially if you start seeing numbers go down by 5 or 6% week over week.
That mean after a month, you could be down 20 or 30%. That's a huge decline. You don't want that. So, you want to make sure that you're checking your organic search traffic week over week and compare the specific days with each other. That way, you can act quick instead of waiting a whole month and being like, "Oh wait, my search traffic keeps going down."
Well I'm like, "Yeah it does." Well, now to recover, it's going to take you a lot longer versus if you actually made those actions right when you started to see the dip.
Eric Siu: Yeah. Number two is around CPA. It could be cost per acquisition, or maybe it could be the CAC, right? So, this is a cost of acquiring a customer. So those two are actually different. CPA could be a lead, for example.
So you want to look at what numbers are important to you and then look at that. Here's a caveat that'll add on top of that. If you're measuring cost of acquiring a customer, you're also looking at your lifetime value, or maybe even your average order value. Looking at numbers like that.
A lot of times when people will look at LTV to CAC ratio ... So maybe they want to hit 5 to 1, or 3 to 1, to show that they have a good marketing machine. So, when you think about something like that, maybe you should be looking at your gross profit LTV, and then your fully loaded CAC.
So, fully loaded means you're including all kinds of your sales and marketing costs, and then you have your gross profit, LTV is what you're making. So then you have cleaner numbers. That's going to help guide you more.
Neil Patel: Yes, and speaking of LTV, that'll be the third metric you should be looking at every single week. Yes, it's not always going to improve each and single week, but over months, it should be improving. The reason you look at it weekly is, if you're not looking at the number, you're not going to focus on improving it.
Ad costs are continually going to rise. Marketing is going to get more competitive and harder each and every single year. If you're not improving your LTV number, you won't be able to spend money and compete with the other players. Even if you're not doing paid advertising, marketing still costs money.
SEO takes time and energy. Content marketing takes time and energy. Someone has to write the content. You have to focus on improving your LTV. Whether you're in software, eCommerce, service based business, people could always be spending more when you add up sales and down sales. And that's why the LTV numbers are really important.
Eric Siu: Yeah. Number four, you have to look at your critical conversion rate numbers too. So it could be your email conversion rate, or converting into a sale if you're doing eCommerce. You gotta look at your conversion rates. The reason is, I like looking at rates because this is something you can improve. If you're able to get from 1% to 1.5%, well great. 50%. That's a win.
So, think about that. That makes a massive impact on your business, and sometimes it's not just about getting more traffic all the time. If you can fix your conversion rates or optimize them, you're going to be in a good spot.
Neil Patel: Number five, you need to look at how much international traffic you're getting on a weekly basis, and the conversions for those international users.
Over time, you're going to notice that you're going to get way more traffic from non English speaking countries. Your conversion numbers won't always go up. But, as your audience continually increases from different regions, then you want to start considering translating, and offering your products or services in different currencies to increase your conversion numbers.
We've done that with Brazil, Latin America, Germany. The results have been really good. We recently created an agency in the US. The agency in Brazil, funny enough, is larger than the one in US, and it has been. It's been around for much longer. It's not as competitive. What we've ended up learning is, hey, when you're getting all this traffic from all these other regions by just offering a service to those people, even if it's for a lower price, you'll be shocked on how much new revenue you can add.
But if you don't check your traffic from these other regions, and if it's growing, or declining, or it's flat, you won't know where to expand next.
Eric Siu: Great. Number six, for me. I like tracking organic keywords. So, you can look at Ahrefs ... that's A-H-R-E-F-S ... or you can look at SEMrush. That's S-E-M rush.com. I'm just looking at over time, how many organic keywords am I adding and also, whatever is ranking from number 5 to number 30, I look at those. If they have good volume, let's say over 1000 to 2000 searches a month, I'm going to try to optimize that.
These are keywords where I can just go to the page, maybe optimize a title, or maybe add some more keywords to it, and then hand it off to my team, or maybe build some more links towards that page. Because, these might be really good keywords that have big business implications for me. So that's what I like looking at.
And then from there, I can decide, should I make it more epic and even drive even more content because, a lot of times, people think about producing more content all the time instead of optimizing what they already have. I like building on what I have already, and then thinking about new content.
Neil Patel: Last but not least, to piggy back on the SEO trend, use Google Search Console and check out how many impressions you're getting. Look at it week over week. It's the biggest leading indicator on if your search traffic's going to grow, decline, or if it's flat.
Because, people will see your listing before they click on it. So, whatever your impression count is, it's usually at least, if not more than this, 10 times larger than the amount of clicks that you're getting. And keep in mind, as you're on the bottom of page one ... you're on page two and you climb up to page one ... your impression count increases before your click count increases.
That's how you know you're getting results from your SEO efforts before you see the traffic or revenue increase.
Eric Siu: Yeah. And if you want to capitalize on those, we have a tool called Click Flow. That's clickflow.io. Go check it out if you want a demo. We'll see if it's a fit for you.
But before we go, go to singlegrain.com/giveaway to at least get something from this episode. We got a special giveaway for you to learn more.
We'll see you tomorrow.
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