Your website is the foundation of your online marketing efforts and often the first impression someone will have about your organization.
Here Are 5 Ways to Measure Website Return On Investment:
Often new business owners approach their website thinking “I just need a place for people to find me.”
Get THIS – 85% of people look online before shopping or choosing a service. Is your website a digital brochure, or does it help you meet a goal?
Once you’ve made the leap and invest in a website, it’s time to calculate the return on your investment. Your website should easily demonstrate:
- What it is you offer
- How what you offer will help your customer
- What are the next steps to work with you
We like to have fun here at the WanderWeb, but we get serious when we talk about ROI.
When measuring your website’s ROI, take a look at your costs and the results. There are many ways to track your success and determine whether your goals are being met. Here are a few ways to help you get started:
1. Calculate the Costs of your Website
Before calculating your website ROI, you must determine the overall spend on your website. Your estimated cost should include the initial project cost and the cost for maintenance over time. Make sure to identify all costs before getting started, so there are no surprises down the road. Although the initial price tag might seem high, a great website will produce dramatically better results than merely a good site, and that will translate into massive gains over time.
2. Establish the Goal of your Website
To track success, you must first establish goals you’d like your website to achieve. Although these goals may vary, these are the most common objectives among organizations:
- Increase brand awareness
- Growth in brand engagement and interactions
- Increase in leads
- Increase in conversions (donations/subscriptions/sign-ups)
When calculating the success of nonprofit websites, ROI doesn’t always come in dollar form. As these websites are often created to build brand advocacy or raise awareness, tracking these Key Performance Indicators (KPIs) will be important in measuring your website’s success.
3. Track Website Activity
Google Analytics is a free tool that makes it easy to measure and track your website stats. It allows you to link them to specific goals and measure success. These are the KPIs we often suggest and follow to help you better determine your website’s performance:
- Website Traffic: Website traffic should be measured monthly, at a minimum. As Google Analytics is gathering goals data, you can also set up advanced traffic segments. These filters can allow you to separate the goal results by the various traffic sources sending visitors to your website.
- Conversion Rates: Depending on your website, conversions may be measured as contact form submissions, emails, content downloads, or sales. Definitely set a benchmark to monitor the success of your website.
- Bounce Rate: A high bounce rate is a crucial indicator that something is wrong with your website. High bounce rates are usually due to poor navigation, outdated designs, slow loading times, or device incompatibility. It can also be due to content that has not been optimized for your target audience. The longer your visitor remains on your website, the more likely they are to convert.
4. Monitor Search Rankings
Updating your website doesn’t necessarily mean your search rankings will instantly increase when optimized properly, you can produce results. Search engines continually examine websites for new content and watch how often you are making updates. If you are blogging regularly or updating your website’s features, you will begin to move your way up the ranks. This is another return you will not see overnight but can be extremely beneficial over time.
5. Record Time Saved
Websites can often provide another vital contribution to an organization by acting as a tool for efficiency. Information collected through form submissions can help you create a database of leads, email subscribers, job applicants, etc. to help you better direct your follow-up efforts. Your website will also work as a resource, saving members time answering questions, and promoting your organization’s efforts. How much are those hours per month worth in your organization?
Although your website’s ROI will not always be measured in dollars, there are many ways to determine whether your investment is proving value. The key is to carefully consider the different ways that your website contributes to your organization and then quantify that contribution.
We’re happy to talk about your plans or questions about your website redesign. No obligation!