The name of the game is revenue. If what you are doing is not making you revenue it is costing you revenue. But how do you know what works and what doesn’t? What metrics are you leveraging to increase your revenue? How do you measure the return on investment (ROI) on your website? This may surprise you but often times, this question is the last one to cross anyone’s mind until months and even years into a site being live. Today we’re going to share a few key metrics to focus on to make sure your site is on the right course.
How To Increase My Website ROI
1. Make Sure You Have Installed Tracking
It is best practice to have analytics installed on your site. With it you can track which pages get traffic, SEO rankings, and more. Yet we can’t tell you how many websites are missing analytics in their site. The video above shows you how to get started with this.
You’ll want to install analytics because, at the end of the day, data doesn’t lie. Having analytics in place you will know what works and what fell short.
2. Set Milestones For Your Website
Now that you have analytics installed you’ll need to set some milestones. This should tie into your sales and marketing process. You need to address 3 areas of production.
A) Pre-Game Stats
This is where you brainstorm what your marketing goals may be and how you will get there. Dump all ideas here and make sure at the top to write your budget. Your budget will fund these activities and determine which ideas will move forward and which will be canned.
This is where you launch your marketing. With analytics installed you’ll be able to measure what effect your marketing has on leads. The key here is to give it time to really collect data. A recommended length of time will be 3-6 Months.
C) Post Production
Your marketing and sales funnel should have milestones of its own. Within it, you should be measuring if you’re hitting your goals or not. If you are, raise those goals a bit. Remember, goals should be a challenge. Hitting goals everytime means they are probably too easy and you’ll need to bump them up a bit to ensure your team is really challenging itself to grow.
3. Increase Your ROI
By now you should get the point that measuring everything is vital. When it comes to marketing, it isn’t free. You need to be willing to spend revenue on your brand and sometimes big bucks to see a return on your investment. Take this increase into account when measuring your ROI.
A basic formula to use is:
Costs ie Marketing & Sales (divided by) Conversions.
This will tell your Cost Per Acquisition. Knowing this piece of information you should have an idea of exactly how much revenue you’ll need to capture a second conversion.
If you can’t measure it, it doesn’t exist. If you can’t assign a value to it, it’s worth nothing. If you can’t optimize it, you’ve peaked. If you take nothing else from this article remember that when looking at your website, marketing and sales funnel.
PS. New to SEO and keyword research? Leverage this guide to help put you on the right track for keyword research.