A common challenge a lot of business owners face is making good online investments. It can seem like you have to know the answer to every question you have before asking, and you might end up spending an arm and a leg with little to show for it.
A key reason why this happens is because many businesses do not fully understand what a website is and what it can do for them. Done wrong, a website can be a money pit where you cry your tears to designers and traffic specialists without getting any result. Done right, a well-crafted website can be a sales machine that can help you reduce cost per sales.
In this article we will cover three key points to getting a great ROI with your website.
Get the right site for your needs
There is no need to get a rocketship if you have no immediate plans of going to the moon. Some start-ups make the mistake of getting the online equivalent of a Ferrari without knowing how to drive it or even if they need it. Others skimp on the bare minimum they need, resulting in an increase in their overall cost.
Here are a few quick suggestions:
– If you are simply looking to have an online presence, consider just putting up a template site in wordpress.
– If you plan to spend money driving traffic to the site, consider if spending more on the website will give you a greater return on your traffic expenses.
– If you are just starting out and want to drive sales to a specific offer, consider building just a landing page instead of a whole site.
– Consider your entire sales funnel. How much do you really need to put online?
– Record your mistakes as you make them, so you can reflect and learn from them.
– Learn about conversion optimization so you can get a greater return on your traffic.
Test with a little traffic
There is no need to burn a $10,000 a month budget on Adwords if you do not even know which keywords bring you sales. When you get your first landing page or website online, drive a little traffic to it AFTER you have installed analytics software like Google Analytics and put in conversion tracking. You might want to use Adwords or Facebook ads but make sure you can track the results. This point can not be stated enough.
Typically, the main goal of driving traffic to your site should be to see if you are able to make more money than you spent. Some site owners drive traffic to their site in order to create brand awareness; however, you want to grow your company without burning through your cash or the cash of others, so keep your eye on your main goal.
Ramp up when you have the numbers
Spend money when you know one dollar in will give you more than one dollar out. Also, reconsider your strategy when you need something faster than a skateboard to get where you want to go. The point here is to make logical, almost emotionally detached, data-driven decisions.
Practically, this could mean increasing your Adwords expenditure or investing more in improving your website. You may even decide to move your website to a different platform. You should be ready to grow when the company is ready for it. If you are not ready to grow right now, it might be worth your while to write down what you would do when you are so you can implement your strategy faster.
In order to get a great ROI on your website, start by getting the right site for your needs. Then, test it by driving a little traffic to your site. When you make more than what you spend, ramp up if you have the numbers to justify it. If you don`t, then just tweak and test until you do.