How to measure the results of your online business

What will we see in this post

In the fourth episode of Hotmart MASTERS Newscast – the YouTube series where I share what I’ve learned in the first edition of Hotmart MASTERS – I talked about the tips from the coordinator of the Data Analytics team at Hotmart, Bruno Andrade, to measure the results of your online business.

In case you don’t know yet, Hotmart MASTERS is our online, free and global event with exclusive talks from major players in the digital market.

Today we are going to review the main takeaways from Bruno’s talk in the first edition of Hotmart MASTERS. If you want to watch the video, just hit the play! And if you want to read the transcription of the content, keep scrolling to find out how to measure the results of your online business!

In this lesson you will discover what the fundamentals of online sales are, how to track the source of your sales and how to apply all this knowledge in practice.

Let’s talk about the first point?

Basics of online sales

Professor Bruno divides the fundamentals of online sales into four topics: hypothesis, execution, analysis of results and repetition.

1- Hypothesis

Topic number 1 is formulating your hypothesis. It is very important that you have a chance every time you create a sales strategy, marketing action or ad.

What problem do you want to solve?
What audience do you want to reach with that strategy?

2- Execution

Point number 2 of the fundamentals of online sales is execution.

There is no point in having several ideas and creating a hypothesis if you do not put it all into practice.

3- Analysis of results

The third point is to analyze the results. After taking a series of actions, you need to investigate and understand the results.

The digital market is full of available data. We need to analyze the numbers and make decisions based on that data.

4- Repetition

And the fourth point is repetition. You already understood that it is necessary to formulate hypotheses, run tests and analyze the results.

Now, repeating all this tirelessly can bring you a chance to evolve your strategy.

Did you see that this is all a cycle? Hypothesis, execution, analysis of results and repetition.

By following these fundamentals of online sales, you can invest time and effort more strategically and achieve better results.

How can I track the origin of my sales?

Another lesson from Bruno Andrade’s class is how to track the origin of your sales.

One of the options is a little more technical: tracking via UTM parameters.

UTM is a universal standard for links, used throughout the internet to be able to track the visit of people on an online page.

Basically, with UTM you can track where a person who visited your page came, what site led them to yours.

The logic is simple: when the visitor buys your product, you will know the source of your sale.

Let’s see some types of UTM?

UTM Campaign

First, UTM Campaign, which we use to segment and identify which campaign is within the marketing strategy.

For example, the Christmas campaign or specials you ran on Black Friday.

UTM Source

The UTM Source identifies the access source.

For example, what are your sales channels? Facebook, Instagram, email marketing, YouTube and others.

UTM Medium

There is also UTM Medium, which serves to identify which media is generating the most results.

For example, advertisements or organic advertising?

UTM Content

And with UTM Content you can track the content of the ad or creative material.

So, you can test different types of ads. Imagine a campaign with a direct sales video, a video talking about all the benefits of the product and another with customer testimonials.

Which generates the most results for your business?

Remember to set parameters for all campaign links to track the source of sales. But you don’t need to use all these UTMs, okay?

Bruno’s tip is: if you’re starting now, or your strategy is simpler, you can use just one UTM and take the first step in analyzing the data.

How to put it all into practice?

Finally, step three of this class is hands-on. How to put it all into practice?

Our teacher points out two free solutions from Hotmart: link manager and Hotmart Analytics.

Hotmart Link Manager

Hotmart offers a management tool for you to set parameters for your links.

Remember everything we talk about with UTMs?

With this free solution, it is easier and faster to prepare and configure your campaign links. Then, just analyze the results and discover the source of your sales.

Hotmart Analytics

You can also explore Hotmart Analytics.

It is a data analysis tool that helps you understand your customer’s behavior, analyze the traffic that is being generated within your pages and make an x-ray of sales on our platform.

Take your business to the next level

One last lesson from our teacher Bruno. Much more important than looking for secret tips or mysterious insights, which can explode your sales at once, you need to have planning, consistency and optimization.

These 3 steps take all successful Hotmart producers to the next level!

So, did you like the strategies to measure your results and leverage the sales of your digital business?

These tips were part of the first edition of Hotmart MASTERS, our online, global and free event.

Do you want to keep going with this journey of improving your online business? Then sign up for free for the next edition of Hotmart MASTERS, which will take place from October 19th to 23rd, 2020!