A website is a good investment for every business, especially in this digital age. Having a website increases your relevance, online presence, and helps your customers determine your authenticity and accessibility. But you wouldn’t fully know if having a website for your business was worth the investment and if it contributed to the overall increase of sales in your business until you see results or the ROI (return on investment) of your website. There are a variety of ways to measure the ROI of your website, factors to consider as well to completely understand the worth of such an asset. In this article, we will be giving you some tips on how to measure the ROI of your website.
1. Know the Cost of Your Website
One of the ways to measure or calculate the ROI of your website is to start with the overall cost of the initial website project and website redesign. This includes all the maintenance done in the process and extra tools to improve the responsiveness and usability of your website. How much are we looking at? Take note that you shouldn’t miss out on pinpointing all the costs and value of the project over time. This helps you better understand and determine the positive return on investment.
2. Determine the Goals and Purpose of Your Website
Before you had a website developed for your business, what was your goal? What was its purpose? Now that your business has its own website, did it reach the goals you set? Is it serving the purpose of having a website for your business? In the process of measuring the ROI of your website, you should be able to ask yourself these questions to keep track of the progress or success that your website has made all throughout.
Every business has different goals and/or purposes in deciding to develop a website for its brand.
- Lead Generation
- Increase in Conversion Rate
- Boost Brand Awareness
- Improve Customer Engagement and Interaction
- Increase in Revenue and Sales
3. Check Your Website Activity
First, how do you check your website activity? Google Analytics (GA) is an easy and reliable tool that you can use to track or check your website performance. It allows you to monitor, collect, and analyze your website traffic and engagement. If you are wondering, website traffic is the number of visits and engagements a website has. It is usually used as one of the ways to determine a business’s online relevance and effectiveness in reaching its target audience.
Checking your website activity helps measure your ROI because you can see how much traffic and engagement your website has gained over a certain period. This also includes being able to know the conversion rate or the percentage of visitors who made a purchase.
An increase in website traffic is usually a good indication that your business is gathering more customers. However, you should note that the measurement of good or successful website traffic is based not only on the number of visitors but also on how many of those visitors stayed long on your website or their time-on-page. This means that the longer a visitor stays browsing the website, the higher the chances of conversion.
4. Keep Track of Search Engine Ranking
Search engine ranking is the placement of a website on the search results page. It is important to keep track of the search engine ranking of your website because it enables you to know your visibility and if your target audiences can find your business easily.
An updated and well-maintained website is good for your business as it improves user experience. But for your website to rank high in search engines, it should be backed up by SEO efforts and a tactical approach to optimize your visibility in search engines. One of the ways to enhance your website ranking is to consistently publish relevant content as it speaks to your customers’ needs and wants. Publishing content will not provide you with a fast return, but doing so will be an advantage for your business in the long run.
5. Maintain Record Keeping
Maintaining a record for all the data and information you gathered upon measuring the ROI of your website is important. This helps you keep track of the growth and improvements of your business. You can make a spreadsheet or use any other organizational system that will allow you to have a detailed list of leads, email subscribers, important performance metrics of your business, etc.