Well, hello there, fellow TpT author. Are you fed up with making blind decisions about how to sell on TpT? I see you creating unique products that have the potential to serve thousands of students around the world. You’re hustlin’ and doing all the things just to make a consistent profit in your TpT store, but you haven’t gotten there yet.
If you’re ready to make powerful movements in the right direction, you need to dive into your TpT data. The question I get most is, “What data should I be tracking?”
The answer to that isn’t one-size-fits-all. It all depends on how you plan your quarterly goals. The KPI, or key performance indicators, will vary from person to person depending on what they chose to work on during this quarter.
If you’re just flying blind, I suggest you take the time to figure out how you want to grow this quarter. You can read a helpful blog post about setting your quarterly intentions here. Sorry to bust your bubble, but the answer to how to sell on TpT comes down to one thing, and that’s math honey.
How to sell on Teacher’s Pay Teachers with KPI’s?
KPIs are any relevant metric, or data, related to measuring the success, or lack there of, of your quarterly goals.
These will vary from person to person, and quarter to quarter depending on what intentions you set for success. By selecting a yearly, quarterly, and monthly goals, tracking and measuring your KPI’s will help you reach those goals.
What KPIs should I track?:
If you are focused on product optimization, be it new or old products, anything related to your products’ performance will be key.
Views:
This can tell you several things. They can tell you:
How your covers, titles, and product descriptions are doing:
- Too low? Then you might not be getting found in search, and you need to improve your titles or descriptions. Find out more by reading this blog.
- Going strong? Your titles, description, and SEO can be performing well.
- Noticing trends and patterns? If a product is getting good views, consider its seasonality, product type, or potential hole in the market. Higher views may mean you found an area to expand your TpT store and product lines.
Conversion Rates:
This can tell you about the more detailed aspects of your listing.
- If your conversion rate is low, it may mean that your thumbnails, video, or preview are not doing an excellent job of convincing a buyer to purchase your product. It may mean updating these could increase the sales of these resources.
- Then again, low conversions can also mean your previews clearly show a buyer that this product isn’t for their students or won’t meet their needs. It’s not personal. You would rather a buyer NOT make a purchase if it isn’t right for them then buy it and be unhappy, leaving a negative review. Consider the product and consider whether it might need updating to convert better.
- Still, a lower conversion can also mean your title and description are driving more traffic to your store, and if you dial in your preview or video, you will see an increase in sales
Selecting your lagging metric for the month or quarter:
In marketing, leading and lagging metrics are two types of metrics typically tracked. A leading metric is something that you can track and help you determine if you are being successful in reaching your goals.
Say, for example, you want a product to have 300 new views this quarter. You don’t want to wait till the end of the quarter to determine if you will reach that goal. You want to track your views monthly on that ONE product to see if your changes were a success.
Enter leading metrics. Since there are 3 months in a quarter, you may say that every month your product needs 100 views. If it’s the middle of the month and you only have 25 views, you must do more to increase the views. You may consider checking the title and keywords to see if they are relevant or analyzing the description and cover.
Determining your success in a given quarter is not just up to chance, girl. You can influence your sales and outcomes by diving into data and tracking it.
For more details and leading and lagging metrics, check out episode 116 of Market, Scale, Grow with Jenzaia.
To Review:
- Tracking, analyzing, and monitoring your TpT data can help you reach your monthly/quarterly goals.
- By analyzing your data, you can determine if your products’ success, or lack thereof, is because of something that you can improve in your existing products
- Your titles, descriptions, and titles are ways to naturally impact your pageviews.
- Your previews, thumbnails, and videos can hold a heavier sway over your conversion rates.
- Using leading metrics can help you determine your quarterly/yearly success with your products, as well as course correct along the way.