Regardless of the size of your business, it’s always important to measure your website’s return on investment (ROI). Knowing your ROI helps you better understand where your website is making an impact as well as where it might be falling short. This knowledge alone can be a leading factor in how you shape the future of your website. With a deeper understanding of what returns your website is providing you, you can plan your future budget on website growth or make appropriate cutbacks depending on its performance.
There are several ways that you can calculate your page’s ROI. We’ve divided this into two easily definable categories: simple, and complex.
eCommerce websites and all types of virtual storefronts are the most straightforward to calculate. When dealing with an eCommerce website there are only two steps to the calculation. Simply take their earned income and subtract if from their level of expenses. The result is the flat return on investment that is generated by the page. For a large number of websites, this is all that you need to do.
If your website is not of the eCommerce variety then it becomes a little more tricky to calculate. When determining the ROI of these sites the key thing to remember is the ROI of such a site is not based on electronic sales so it is, therefore, important to identify the quantifying factor which you are going to use to measure the success of the website. For instance, this could be the websites’ active customer engagement capability, reach, or the number of leads generated through its contact form, etc. Understanding your website’s target goals will allow you to focus on what you need to look at when calculating these types of ROI.
For a more in-depth explanation on measuring your website’s ROI follow this link to a wonderful article about the subject. This blog enlightens you on the better understanding of how your ROI can be used to help determine things like client value. assist in the sale, due diligence, multi-channel marketing, time-saving, record keeping and more.
Better yet, if you want to start seriously looking at creating a website and digital marketing presence that is truly going to bring you to return on investment, speak to the experts at Grow Digital Marketing. Use our contact button below!Get In Touch