Your website represents your business in the online market. So, you need to have a optimized website that will do both the Sales and Marketing for your business. An optimized website is an investment, therefore you need to be price conscious in order to get maximum out of your investment. But the main question arises how you will measure the Return on Investment (ROI) for your website?
There are many factors which will help you measure the Return on Investment (ROI) for your website:
Before moving on to measure the ROI for your website, I will recommend using any analytics tool for your website. Most of the website do prefer Google Analytics, as this is free to use and will provide you with enough data to measure your ROI.
Number of Unique New Visitors: Every person should aim to get a very high number of visitors on his / her website. This can be tracked very easily using Google Analytics. The most important thing to measure here is Number of Unique New Visitors. Which will further help you track your ROI.
Landing Page Conversion Rate: This can be measured by setting up Goals on Google Analytics. This is a very important metric which will tell you how often a lead is matured. If the ratio of Visit to Goals is increasing this means your website is attracting right type of visitors who are interested in your services / products you are offering via your website.
Sources and Referring URLs: Using Google analytics you will find out how visitors are coming to your website and will also help you find the websites or URLs linking to your content.
Bounce Rate: This factor will help you find out the time a visitor spent on your website. The lower the bounce rate better is for your website.
In order to measure the ROI (Return on investment) for your website, you need to know that how many users completed a goal only from your website (Not from call or other methods). Once you will determine the number of Goals you can easily find out the ROI for your website by using this formula:
ROI = (Income – Total Investment) / Total Investment
Total investment – the entire initial cost for website setup, monthly website maintenance cost.
Income – The amount generated by selling or completing the goals.
After completing this calculation you will see if your website has turned a profit yet or not, and if so, by how much