If you want more than one install this is how i do it.
1. Clear out all of my IIS sites and uninstall any existing smartertrackinstalls (to start from scratch)
2. Download the lastest build of SmarterTrack from https://www.smartertools.com/smartertrack/downloads
3. Click on the Setup.exe (dont bother unzipping etc.)
4. When setup asks me for a location Install it on default location which is something like C:\Program Files (x86)\SmarterTools\SmarterTrack
5. Create IIS site and point it to C:\Program Files (x86)\SmarterTools\SmarterTrack\MRS
6. Ensure that one is up and running connect it to a db if I feel like. You also may have to ensure your IIS Settings are configured correctly https://portal.smartertools.com/kb/a2605/set-up-smartertrack-as-an-iis-site-iis-7_0-7_5.aspx
7. Do step 3
8. Step 4 but change the installation location to a different folder.
9. Create the IIS site and point it to Your new Folder -> SmarterTrack -> MRS Similar to step 5
10. Follow step 6 again but DO NOT connect them to the same Database as this could cause issues.
Hope this helps,