The buck stops here! (excuse the pun) The be-all and end-all of objectivity is the profitability of your website!
How much money does your website yield compared to how much does it cost you to run?
A relative of ours had a favourite saying
The most expensive piece of meat you will buy is the piece you throw away.
It is the same for your website
The most costly website is the one that does not get results!
The gauge of an effective website is whether it brings in customers. Which is the prime purpose of any website.
Elements of Website Profitability
Consider the two sides of the equation:
1. The Website Yield
- The number of visitors that become customers
- The average spend of those customers
- Retention rates of customers who have purchased and also have come to you through the website
- Referrals you get from those customers so you get even more customers
2. The Website Cost
- Initial build cost
- Annual domain fees
- Monthly or annual hosting fees
- The cost of analysing and also modifying the site monthly or weekly
These are the basics.
Now consider how you can utilise the Website structure to either reduce other costs, or optimise your revenue stream.
Consider adding these features to your web presence to generate more revenue and also reduce current costs.
- Make your website into a full Customer Relationship Management Tool
- Set up an online shop so people can buy whilst you are asleep
- Enable online booking for appointments and services
- Create an online payment system so you get your money in advance
- Use the CRM to link to Mail houses to do targeted email marketing campaigns
- Use your Blog as a marketing tool and allow visitors to sign up for RSS feeds.
Put the Profit-ABILITY stamp on your website