Tracking your lead value is actually a pretty simple process. We call this the “Average Lead Value” or “Average Customer Value”.
Simply put it’s the amount of money each lead or customer brings in on average to your business. What you need to be doing is tracking these values for the purpose of increasing it.
This is a really important part of your marketing plan. Without it you’re really not marketing at your peak capacity and you’re leaving money on the table. You need to learn how to predict and hit whatever income level you’re shooting for.
How The Math Works
Your average lead value and average customer value is not hard to figure out. It’s simple math applied.
$10,000 in sales divided by 5,000 leads = $2.00 average lead value.
$10,000 in sales divided by 150 customers = $66 average customer value. You get the idea right?
Now the next thing you do is to start tracking all your pages which include your lead capture pages and all your other pages to see which ones are bringing in what results.
You compare and see which ones bring in the best results and begin using them more. You begin testing your “Lead Magnets” and see what produces better. Test your sales pages and don’t forget your auto responders.
Once you see the results of your tracking and testing you’ll know what to change and how to change them. And then split test the new pages as you might come up with something that has even better results.
Now what happens is your same 5,000 leads may produce $2.50 per lead which meant you took another $2500 off the table and put it in your pocket. And this is the best reason why you track- because it didn’t cost you anymore in ad cost to bring in more money! See how this works?
None of This Works Though If You Don’t Have the Right System
By right system I mean you need a marketing funnel. Nothing and I mean NOTHING will happen if you don’t have a well thought out marketing funnel.
You simply cannot succeed in affiliate or online marketing if you don’t have the proper funnel.
There are two options to setting up a marketing funnel:
1. Use a WordPress site (that’s what you’re on right now)
2. Use a system like Kartra
We at Profit Platform use both WordPress and Kartra. I’ll explain in a bit which is best but both will work.
Once you have your funnel you’ll need a Lead Capture Page
It’s All About Attraction: It’s not about selling at first, that comes later. You must first attract your lead to you like a magnet. You have to offer people something of value in exchange for their email address. This is how you build your list. Now you are forever in touch with them and you begin to build a relationship.
Other Pages You’ll Need…
Landing Pages, Sales Pages and Thank You Very Much Pages: All of these pages will be working while you sleep selling for you. All completely automated. Kartra handles all this amazingly! Now people are entering their email on your lead capture page then going to your landing page continuing into your funnel and your list keeps growing every day.
Now that you have all your pages you can begin tracking on them and testing different “Lead Magnets” and see what is bringing you the best results. What pages are more people purchasing from than others?
This is how you move your marketing to the next level and truly become a professional affiliate marketer.
A word for Kartra here… All the things I’ve spoken about here e.g. lead capture pages, landing pages, tracking, all of these components are included with Kartra plus many,many more which you would normally have to pay for individually. Kartra makes the whole process so simple which is why we use it.
You can do this without it by using WordPress along with a tool called ClickMagick but like I mentioned they are stand alone products but they still work very well.
With all this in place you can now begin tracking for the increasing cashflow. Write your own ticket on what income level you want to be at. Working smarter, not harder.
To Your Success!
Are you a coach, consultant, author, plan events, trying to sell your own product? Learn how we can help you build a Marketing Funnel designed specifically for you so you can hit the income levels you desire.