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How to get Return on investment from the website
It is important that your business has a website to go with your brick store or an office as the case may be. This is something that many have realised and are beginning to act on too. The website itself can be an informative one or a full-fledged e-commerce website and hence the cost of the website also varies. However a decent website can cost quite a bit; besides which there is also the annual fee for the domain and website space itself. Thus many businesses often hesitate when it comes to making a website for their firm.
Thus the most obvious question for a business owner is “What is the best return on investment strategy for my website?”. The answer is often quite simple and easy to determine that is of course if you use the correct method. There was a time when tracking the number of visitors that visited your website was considered quite good and sufficient and thus this now quite common and is certainly not sufficient to figure out the Return on Investment (ROI) on your website.
Hence here are a few perspectives to consider when trying to figure out the return on investment (ROI):
This is one of the more simple ROI perspectives. It is a simple metric that tracks the number of visitors as well as the cost to develop and maintain the website. This is an analysis provides the simple statistics like the cost per unique visit.
A lead is of great importance to any business. Even though it is not necessary that every lead generated is converted into a real business opportunity it is still of great importance for all businesses. Thus now tools exists that can be used to determine the number of leads generated from a particular source (your business website for example). This data can then be used to analyse the ‘cost per lead’ and act as a good statistic in the overall report of the performance of the website.
This the most useful of the lot. It is a metric that helps determine the return based on the amount of actual sales and also includes the development and maintenance cost of the website. Thus at the end of he day you will have the true ‘Return on Investment’.
The various methods:
There are several methods to determine the return on investment; some of which are described here:
A website can contain vital information concerning the products and services that you provide. It is thus highly likely that once having viewed the content, the visitor to your website needs to make an inquiry. You can make things simpler for your visitors by placing a contact from on your website with the appropriate fields. The secondary advantage of doing this is that any messages received via this form can be directly translated into a quantifiable ROI. Hence the more the number of messages or leads via your contact form (inquiry form) the higher is the ROI.
Newsletters, Social Media & Giveaways:
Encouraging the visitors to your website to sign up for the newsletter is a very good and quantifiable method to improve the ROI as well. But that is not all there are other methods too, like connecting via Social Media and organizing giveaways to the people.
There are many types of websites. If you do have an e-commerce website it becomes fairly simple to calculate the return on investment. Calculating ROI is as simple as deducting the expenses from your income. On the other hand if you have an informational website then is generating interest or leads in some method, there is no direct way to calculate ROI. It is only possible to get an idea about those who like and dislike you. This is often referred to as the net promoter score.
Websites encourage the visitors and the potential customers to obtain the information they are seeking all by themselves. When there is a website with a sensible navigation the potential customer can easily obtain the necessary information from here at his convenience. What this does is to conveniently reduce the load on administrators or customer service people if any. This is one feature that is more valuable than you can image.
The Website ROI Calculator:
Google comes to the rescue once again with the special Website ROI that they have designed. This tool is essentially an excel spreadsheet template that has been made available by Google and can be obtained from the Internet by doing a quick search for the same. Alternatively you can also download it from this link mentioned
This is a comprehensive tool that helps understand the data better. To start with you need to set the goals by following the template and then use the tool through the lifespan of the website; updating the figures and checking the results. The template also includes sample sheets for different types of website for your reference.
You can set up the values make your goals and then view the statistics. It is handy of you have all the costs with you like the development and operating costs, marketing costs, etc.
Alakmalak fits the bill:
Alakmalak is one company that has been around for a while. From the time when only the a few of the big names preferred to have a website since they were not very popular to now when it is vital that each business have a website and the number of people with access to the Internet has increased many fold; Alakmalak has been there. They have developed more than 2000 websites for loads of different clients across the globe. To sum it up;
Alakmalak is one firm that does recognize that when it comes to business everything has to pulls its weight and that includes their website too. Hence the websites designed here always have the interests of the client in high priority.
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