Ignoring your website’s revenue generating abilities is similar to allowing your sales department to never report on their efforts. It doesn’t make sense and you just wouldn’t do it.
It is mainly companies with lead generation websites who ignore this potential, or at least are very casual about the results.
This especially applies to businesses who treat their website as a brochure or a destination for potential clients to get some background information.
Websites as Goldmines
Every visit is a potential sale, every form fill or telephone call is a trackable lead and as soon as these actions and events are logged on your website, then you’ll see the positive results and benefits of this effort .
The formula below is a simple guide to how it could work for your business
800 visits = 10 prospects
10 prospects = 1 new client
5 clients = website investment covered
+5 sales = return on investment
It all depends on how much revenue you generate from one lead but if a sale from the website brings in a couple of thousand pounds in revenue how many of those do you want a month, or a week or a day?
If the effort to generate and track those leads, while turning them into sales is paid for after five new clients, the remainder is a great return on your investment.
What To Measure On Your Website
You have to be conscientious about your business goals and how the website can aid you in both saving time (providing relevant information) and representing your brand image (emotional attachment).
If these factors are covered well, all you need is a decent marketing strategy to drive relevant traffic to the website (e.g. potential customers, not window shoppers) and guide them through a conversion funnel so they can use your product or service.
What you need to know about your visitors:
- Where they came from
- What actions they took
- How many turned into clients
What Type of Business Does This Apply To?
All types! In general business websites can be separated into two groups:
- Lead Generation: usually selling a service of high value, where a purchase decision requires a considerable amount of research.
- E-Commerce: selling products online that are easy to ship and research is straightforward.
If either one applies to you, you still require a thoroughly detailed Measurement Plan which defines the actions and events on the website that support your business goals. This document is bespoke and applies to each business individually.
Do you really need a Measurement Plan?
Having a Measurement Plan can give your company a serious advantage over your competition and provide valuable insight into your products’ appeal, user behaviour, finding the right audience and optimising your costs.
You are free to ignore your data but if you want to gain a business advantage as soon as possible call us on 01329 630093 or fill out this form.