Every day we make purchases. And for businesses, price is an important consideration. But, it’s not just price that influence our selections. Impressions and experiences play a big role, especially when narrowing the field of potential suppliers. But these days, with phone discussions and meetings the exception, until purchase decisions are closer to conclusion, do online channels really help you stand out? Will an effective website add value to your business?
In a world of tight budgets and scarce resources, will investing in your website pay dividends?
Does An Effective Website Add Value To Your Business?
Our last post detailed how website first impressions dictate the next step for users. In fact, your design and navigation have only a few seconds to convince your audience to dig further. Unclear or hard to find information turns a new opportunity into a lost lead.
But, does a well designed and optimized website that provides an effective user experience really impact your business? If you aren’t in the e-commerce business or sell products or services online does it really matter? And, with tight budgets and scarce resources, will investing in an effective website add value and provide a return on investment?
When developed properly, your website can generate a tangible return. Here’s what you can expect.
No Website Means Losing Business
Clutch & Company reports that nearly 30% of small- and medium-sized businesses don’t have a website. By now it's clear that if you don't have a website, you're missing out on opportunities. When a good customer refers you to an associate, they are likely to check you out online. And, one of the first steps a prospective buyer takes when considering your company is to review your website.
In addition, a website improves the experience for current customers. From finding basic information such as your phone number, address and location to discovering other services you offer, a website makes it easier for customers to conduct current business. Plus, it may very well help you expand your relationship.
Meanwhile, ranking a close second to no website is a bad website. While no website equals missed opportunities, a bad website can make your business look bad. And, they are both bad for business.
The Revenue Impact Of No Website Or A Bad Website
What is a new customer worth?
It’s impossible to quantify the exact dollars a website will generate for a company that doesn’t have one today. In reality, the value of a new customer varies. And, your product offering, target audience and geographic reach all factor into the amount of new customers that need what you sell.
However, if you don’t have a website, it severely inhibits a referral or any other prospect from learning more about you. And for some, that ends their inquiry and your chance of gaining a new customer.
As for a bad website, it creates unnecessary concerns. Some referrals will correlate a bad website with poor company quality and decide to take a pass on you. And, even when contact with a prospect is made through direct selling efforts, a bad website will cause some prospective clients, who are otherwise interested in you and your business, to drop you from their consideration list.
So what is one, five, ten or dozens of new customers worth to your business this year and into the future?
The Revenue Impact Of An Optimized Website
Ask Siri. Or type a search term into your browser. Today, when we have questions about services we need, it’s our de facto step.
And, it’s also how your end customer searches for you and the products you produce.
A well designed and optimized website will provide your information for the search queries that relate to your business. For example, the query or the question ‘does <your company name> produce <product name>’ should return your website 99% of the time.
Products and other non-branded terms are competitive and more difficult to achieve top rank search results. But, using smart optimization strategies and a consistent effort makes it realistic at a cost that doesn’t break the bank.
So, what’s the downside? What happens when your company isn’t there? The fact is, attention spans are short. Even people familiar with your company won’t spend much time seeking you out. And for those that don’t know you, they look elsewhere.
Before the internet, it took big budgets to promote your capabilities. In fact, small- and medium-sized companies typically used their direct sales team and perhaps trade shows, trade magazine ads and direct mail to boost their business.
But, the internet provides access to your own micro mass market. It allows you to target your marketing efforts for a fraction of the costs.
Optimizing Your Website
Despite these benefits, will making the additional investments in an effective website add value to your business and provide a return on investment?
The answer is yes. First-page search results are high impact. What do they mean to you? It means that over 70% of the time, people will look no further than the first page and click through to view your website.
Think about it. What other channel delivers a customer or prospect to your company 70% of the time with an interest in and potential need for what you produce? Obviously, it doesn’t guarantee a sale. But when you apply typical benchmarks, here’s the potential outcome.
100 leads will provide you with >
30 marketing qualified leads which means the prospect fits the profile of your typical customer which then results in >
15 sales qualified leads which means the prospect has the budget and decision making authority to make the purchase within a reasonable time frame which translates into >
It Takes Ongoing Attention
Just like living a healthy life or making your goals reality, it all takes work. But, the answer to “does an effective website add value to your business” is an emphatic yes.Get a Free Website Assessment