James: James Schramko here from superfastbusiness.com with John Lint from 10XPRO.io. Hey, John.
John: Hey, everybody.
James: So, John, a couple of questions we’ve been answering related to memberships and courses and pages and so forth. One that I get asked a fair bit, and I’m actually doing a little bit of research on right now, is conversion tracking and measuring.
Because it’s great, you know, we get all this traffic to our site, then something happens. We might make a few sales, get a few email opt-ins, and then, you know, things happen at different time frames. It’s sometimes a bit hard to pin the tail on the donkey and to know exactly what’s working in our business.
And I’d be interested to know, if you’ve broken it down to just a few things. If we could choose just a couple of things to track and measure to give us valuable data, to make informed decisions, to improve our profit, what sort of things do you think would be effective for us to start out with?
John: Yeah, right. Because the thing is that with tracking, there are so many things that we can track, and you can get lost into tracking.
James: Well, you can spend $100,000 a year on a custom dashboard, and still not get data that’s useful if you did it poorly.
John: Yeah, exactly.
James: Or spend 90 minutes just watching a training module about the importance of tracking and how there’s different kinds of data analysis and cohorts and predictive behavioral, you know, linear graphs and AI and all of this, it can get pretty wild. But there are some probably basic things that we should be looking at.
John: Yeah, totally. And especially, if you’re starting out or you are an information publisher, an expert, or you want to enjoy your lifestyle rather than being glued in front of your computer, trying to analyze the little metrics, all of that, then there are really some basic things that you want to know. The cool thing is that with 10XPRO.io, you get all the tools to be able to track everything I’m going to talk about.
But I think, to me, looking at our members and what they do, sometimes I talk to them and I ask them, Well, how is your page converting, your opt-in page, or your sales page, or your order page? And he’s like, Well, I don’t know. That’s important. You want to know how your pages are converting. So that’s one of the top metrics.
For example, if 100 people come to your opt-in page, how many opted in? If you get five, that’s 5% conversion. Well, you want to try to increase that because an opt-in page, you want to try to have as many people opt in. So, obviously, knowing that number is very important, right?
The second thing, the second metric that I would say is super important, and most people don’t do and have no idea is, well, they’re getting sales. Awesome. I got an email from my payment system, I got a sale. That’s great. But where did that sale come from? What’s the source of that sale? Very important.
The problem is that with many systems, you have to actually purchase a dedicated system to be able to do that. It’s usually $297 a month just to do that. The good news is that with 10XPRO.io, we have a feature that is built in which we call Source Tracking.
James: Great name.
John: And you can simply create a link and then when you use those links in your different sources, like maybe your blog, maybe your ads, maybe your emails, then automatically the system will know, Okay, well, that sale came from that. And that’s super powerful, because you might be doing a ton of different things. But you really want to know what’s the source of traffic.
So for me, the two most important metrics are well, how is your funnel converting? What are your pages doing? Because if it’s not, you know that the message is not right. What you’re saying in the page is not right. So you need to increase that. And you can easily do that, doesn’t cost you anything. You can change and you can do some split tests, which by the way is also included in 10XPRO.io.
And then the next thing is that okay, now it’s converting, that’s great. Now the next thing is that well, where is it coming from? That way I can do more of that. If you’re seeing that your blog is really bringing that traffic, great, publish more blog posts. If your podcast is doing that, then do more podcasts. Videos? Do that, right? And then you can, for now, forget about the other ones that are not converting as much because you want to focus on trying to get as many results.
And then later, you can then try to increase all the different sources to try to maximize your sales. So for me, these are two top ones. I know there’s a ton of other ones. And experts will tell you, how about this, how about that? That’s great. But you know, if you really want to boost your results in your business, I think these two are really, really powerful.
James: Can you attribute with your Source Tracking the value of a conversion?
John: Yeah, you mean like the revenue and how much? Yeah, you can totally do that. So basically, when you’re source tracking, when you create your link, you see how many opt ins that source gave you, how many sales, how much revenue, and basically all of that.
James: So basically, you can now start looking at lifetime customer value and how much it cost you to get that customer and if you can actually do it and breakeven?
John: Yeah, exactly. As part of your customer portal, you will see all your members. And for each customer, you can see lifetime value. Like there’s a box that says lifetime value and it tells you whatever amount, you know, based on what we have purchased.
James: That is mind-blowing. I remember when I first became aware of Andre Chaperon, he was teaching a course on how to track conversions. And I’m talking about 12 or 13 years ago, like a long time ago, that just blew my mind. It was like having x-ray vision on your marketing. Instead of just not knowing, now, you know. You put something in here, it comes out there. It’s like running a trace dye, you know, putting a color through a system and seeing where it pops out. That is one of the most powerful things you could ever do.
If you combine that with knowing how much your customers are actually worth to you, and then you can go and buy that customer for less than that value, you now have a recipe for a great business. And of course, the simple things like an opt-in conversion rate is a bare necessity that you should be able to get from your pages so that you can constantly do it. And I think you just slipped in there, just casually, that you can split test. I mean, that is a mind-boggling, high-level feature that a lot of toolsets also charge $100, $200 per month for.
So very impressive tool suite that you have there, John, with 10XPRO.io.
John: Thank you. Thank you. And you know, we’re always adding new cool stuff based on what our members want. So yeah, it’s only getting better and better. So excited.
James: Awesome. All right. Well, I’ve been chatting with John Lint from 10XPRO. John and I put together a course on how to put together your own course and membership called onlinecoursesystem.com.
If you want to get started with the online business and get your expertise into a course, or if you’re not an expert and you want to find an expert and tip their expertise into a course, which I’ve seen done before which is a publisher model, get the course – onlinecoursesystem.com. And use 10XPRO, which is a part of the offer. Get the help from John and myself. And we look forward to your success.