How the ROI of a website measured and what can be its value to you? Take help of a website design company.
A website should produce a positive (ROI). The website should bear financial health and prosperity how should it be measured? ROI of a website can is calculated simply by using amounts to (Income — Expenses) / Expenses = Return on Investment. The calculation can be modified further to include future income (lifetime customer value).
It is important to quantifying how much income that the website generates in the calculations. A website may provide this made on the basis of a website designing company that such parameters.
Certain parameters used are offline sales, face to face appointments generated and their results and outcomes, contribution in making conversions or sales leads, important contributions in helping sales, professional services made or generated, bring in new sales prospects, identification of new clients services or markets, increase the rate of making final closing, Increase in rate of sale or increase the staff’s efficiency, increase in the rate of client retention, decrease in wastage of time, money and efforts, increase in new referrals and leads. The Lifetime value calculation is more complex and is calculated with bearing the value of a client over a span of a couple of years instead of the overall life period. The Value of a new prospect can be gauged and calculated giving the keys to planning. The net result of the exercise should be it should help the website in the sales. The metrics used should help one to measure calculatedly the impact of the website with the existing ROI. Thus if tweaking is needed more can be done to improve impact and the ROI net result.
A website’s effectiveness depends on several non-tangible factors:
· First is how usable is the site: Is the site loaded at average speed and how navigable has the site been made with icons and graphics and apps.
· Is the site clear is the visitor put through torture to figure out content, font, navigation, theme what the site is selling, saying how clear is it to the viewer audience?
· Is the site sales friendly how difficult is it to see prices? How difficult is it to ask about products on sale, conduct e-commerce, refund, and security of payment details of payment acknowledgments.
· Is it branded does the site give a unique online experience. Is it reinforced by brand image, feel and awareness prompts, graphics, content that are exceptional?
Measuring effectiveness will require these:
How much traffic is coming in per month, year, day, hourly? These metrics can be measured. A number of hits are an example. How many types of products are sold when seasonally, daily annually, what is not selling, what are the market movers? All these can be measured too. The number of leads generated, new customers added, views per day, the number of customers converted, the number of purchases, the number of emails or telephone calls generated from site awareness can also be measured.
Both these types of factors affect each other in the long run. Tangible factors will be affected by the non-tangible factors are important. One can also measure time on site, bounce rate etc. The mentioned ones are most important to understanding the ROI. The best way to manage a website is to use a website design firm that fulfills all your needs. The ROI is important to determine if your investment in a website made by the chosen firm is worth it or not.