Measure Everything

Internet marketing is what we call in business school, an
easy-entry business. Anybody can do it, with less than 100
dollars.

The problem with easy-entry businesses is that because
everyone can get it, most people fail.

People don't think before they make decisions. In their
head somewhere, they feel that just because they have only
invested 100, that the returns on the business are low. And
they somehow manage to match their expectations.

If they do make a few hundred dollars, they manage to take
it all and buy a few nice dinners, to compensate themselves
for their time.

The serious internet marketer, on the other hand, will
think himself grateful to be able to go into business for
himself for less than 100 dollars, and reinvest every
dollar that comes in.

The most expensive part of getting started online is
traffic generation.

Traffic generation is either expensive in time, or
expensive in money. But it has to be spent.

So how do you make the campaign profitable? There is only
one way: measure everything.

Just like running a science or economics experiment, every
input must be measured, every output must be measured.

The outputs on every campaign must be greater than the
inputs on those very campaigns. There is no other way about
it. Anything else is gamble. You must remember, you are
building a business, not managing a night out in Vegas.

You must measure every dollar you spend in terms of the
visitor, subscriber or sale made, and you must do the same
thing for revenue. In every match, in every campaign, the
revenues must exceed the costs. You cannot cheat here.

Measure everything.


Talk soon,
Jeff & Charles