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Just what you need to track will depend partly on just what it is you're testing.
For example, if you're testing different headlines on a sales page, you're going to want to track the test factor itself and the conversion rate it results in. Provided nothing else changes, that's really all you need to know - which headline resulted in what conversion rate. The traffic costs, the selling price and everything else is the same, so you don't need to worry about tracking the visitor value or anything else.
On an Adsense site, on the other hand, you'll need to track different things. If you're testing different ad sizes, for example, you'll need to track the ad size and the CPC (how much you earn per click).
The CTR (click through rate) isn't really that important here because the CPC can vary from one click to another. You could get a 5% CTR and still earn more than a 20% CTR if the ads being displayed are paying more.
Part of the reason this is a factor on Adsense sites is that different ad block sizes display a different number of ads. The ads are typically displayed in decreasing order of CPC so if one size shows two ads and another shows four, the one that shows four has two opportunities for people to click on a lower-paying ad.
You can always track the CTR if you really want to know that information, but just keep in mind that it's not as critical as the CPC.
Part of a successful tracking system is to make it as simple as possible. The more complicated it is, and the more information you have to track, the more likely it is that you won’t keep it up to date.
When you're first getting started with this stuff, it's easy to fall into the trap of trying to track every little bit of data you can find. It can seem like magic, plugging all these numbers into a painstakingly designed spreadsheet and watching it spit out all kinds of interesting calculations.
But as you get more and more websites to track the process will start to take up more of your time. Too many people just get sick of having to do all the work and wind up setting it aside completely.
Keep in mind that you’re not stuck with the system you start with, however. If you find that you're not really using some of the data that you're tracking, that's probably a good sign that it isn't really that critical to your business.
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