Is Your Website a Waste of Resources?
A well run website is effectively the online branch of your business. It’s a revenue generator and a customer portal. It’s a sales tool and a brand booster. A “brochure” website is no longer an online version of your printed brochure – it’s much more powerful and can offer much more value to the visitor.
Have you been feeding your revenue generator the right fuel to produce results?
“Build it and they will come” doesn’t work for revenue generating websites and is a waste of money… It doesn’t matter whether your site is generating direct sales (eCommerce) or not, it should ultimately be generating revenue for your business in some way. Putting up a website because you feel you need one and leaving it there to stagnate will eventually hurt your brand and do more harm than good.
Understanding your current position by assessing your costs vs sales is a great start. Follow that up with a plan of action and you’re on your way to increased revenue.
Assessing the cost
The costs you are probably very aware of:
- Domain and Hosting renewals
- Maintenance and updating (retainer or subscription based)
The costs you may be less aware of:
- Maintenance and updating (pay-as-you-go) – do you know the overall cost over the last 12 months?
The costs you probably aren’t fully aware of:
- Time – if you manage your own website or you have staff manage it for you, each hour spent on this has a cost which varies depending on the person carrying it out. For example, if you run a small business, your hour has a value equal or greater than the annual cost of running the business divided by 50 weeks, divided by 35 hours. If the person updating the site is an employee, then the cost of that hour is what you pay them and the government for that hour. Every hour spent on the website, is an hour which is not billable to a client and therefore a cost.
Assessing return on investment
Tracking your investment
Do you know where your customers come from? Are you tracking and analyzing your sales sources? There are various methods (see blog post 10 Tips for Tracking Sales Lead Sources for tips on tracking) of tracking this data and it is a vital if you are going to both save money and increase results.
If you have a good tracking system, you’ll know how much revenue your website is responsible for.
If the cost of running your website is less than the revenue earned from your website then your website is a revenue generator and a good investment. Well done!
If you are losing money, something is wrong…
What might be causing that loss?
- No one can find the website
- The website design is poor and damaging your brand/reputation
- The website content is poor
- The website isn’t easy to use/understand
- There are no call-to-actions
- The website is targeting the wrong markets
What can you do to improve your online revenue?
- Good SEO – keywords, code, inbound links, regular valuable content, mobile responsive
- Good design that that inspires trust and excitement
- Make sure your key message on each page is up front and obvious within seconds
- Offer value regularly
- Make it ultra-easy to take action, whatever that is (buy, book, email, call, etc.)
- Target your markets and point the way – this may mean targeted landing pages, targeted advertising, targeted SEO on a page by page basis
- Track, analyse and improve continuously
If you’d like a free consult with one of our directors, please feel free to call me directly on 087-7700471.