These days, just about every business has a website. It’s a fantastic way to do business and increase your company’s revenue. However, running a website does come with costs. So, it is important to know what your return on investment (ROI) of it is. Here is an easy way to determine the ROI on your company’s website.
Gather Data for Analysis
Obviously, you need data to analyze to determine your ROI. The best way to get this done is to set up some website tracking software. Although this seems like a logical place to start, many businesses overlook it and are lost before they even get going. Internet marketing is easy to track as long as you have the right tools. So, take advantage of what is available to use.
Look at the Correct Data
You need to look at information beyond the overall traffic your website gets to determine your ROI. There are several pieces of data you can look at. Some of the best include:
- Unbranded, organic traffic – This data covers people who visit your site through unpaid traffic and are not yet familiar with your brand.
- Branded, organic traffic – This data covers people who are aware of your brand but did not type your company directly into their web browser.
- Paid traffic – This data covers people who come to your website via a pay-per-click advertisement.
- Referral traffic – This data helps to determine who comes to your website via a specific listing.
- Direct traffic – This data encompasses all people who come to your website via typing your company name into their web browsers.
Set up Measurable Conversions as Goals
For this step, you need to decide what your company defines as a conversion. Then you need to create a way to track them in your data analysis. The easiest way to get this step done is to set up a unique “Thank You” page for each form on your site and then track those “Thank You” pages.
Once you have all of your data, it is time to calculate the results. Just follow this process:
- Factor the number of leads you get each month
- Separate the leads into appropriate categories (i.e quote requests, newsletter sign-ups, etc)
- Determine the number of leads for each lead-generation source that actually get converted
- Decide on a specific value a lead has for your company
- Once you have a value attached to each type of lead, you can easily calculate its ROI
For more information about determining your website’s ROI, contact DL Marketing today.