Is Your Website Working For Your Business?
by Jo Shaer, on February 1, 2016
A couple of people from the manufacturing sector have asked questions on LinkedIn about what people think of their new website.
The responses from their connections were all very positive about the look and feel - except for mine which was "Do you have Google Analytics on there?"
In both cases, although the owner of the website said yes, I could see no Google Analytics tracking code showing in the source code of either site.
Ah, Jo, I hear you cry, I don't want to be bothering with all that stuff. And my response would be But you have just spent a fortune on a website, why would you not want to know that it was working to help you achieve your business goals?
No analytics means no data. No data means you have no idea how many visitors are coming to the site.
Change the way you view your website and turn it into a 24/7 marketing tool for your business that doesn't need a pension or take holidays. Read on to find out what you need to be measuring.
How do you know if your website is working?
The thing is, it's not all about look and feel - although that is still important. There are actually 5 Key Performance Indicators (KPIs) which will give you the answers you need to see if your website is working for your business. These should be monitored carefully.
- Average Monthly Visitors
- Average Leads from the Site
- Percentage of Qualified Leads
- Close Rate (of the sales team)
- Lifetime Value (of the new customers)
Each of these KPIs has a direct impact upon the next. The more visitors you get, the more leads and more leads should have a direct impact on the percentage of those leads which is qualified.
Those qualified leads then go through to the sales team whose skill set makes them responsible for the close rate which directly affects the lifetime value of those new customers.
More importantly, as the lovely Ben from DoInbound says: "Each of these will tell us if bottlenecks exist and how to fix them.
For example—if you're absolutely cranking the number of Average Monthly Visitors, but your Average Leads from the Site is low, there is a site conversion problem. Another example—if you're flooding the sales team with qualified leads and their close rate is low, there is a sales problem."
1. Average Monthly Visitors
If your website only launched a few weeks ago, this figure may be quite low. However, it is still an important metric to track.
This number will be directly affected by the blogging efforts and social media activity in your Inbound Marketing campaigns.
It is important to remember that the Average Monthly Visitor numbers take time to build. However, the more visitors that are attracted to your website, the more opportunities you have to convert them into leads.
2. Average Leads from the Site
For both of the websites that I looked at as a result of those LinkedIn questions, conversion wasn't really at the top of their web designer's list of importance.
Conversion means that the new visitor has given their email address in return for some free information. They need to have been encouraged to do this with an effective Call To Action located in the right place on the site.
In 2016, it's not enough to ask them to sign up for a newsletter. Users are more sophisticated. They want a better exchange than an occasional piece of promotional literature. You should be thinking about your target market - what questions do they need answering, what answers can you provide that set you apart from the competition.
It doesn't matter how many thousands of monthly visitors your site receives, if none of them are handing over their contact details, they are anonymous and, therefore, useless.
3. Percentage of Qualified Leads
Woah, Jo, now you're losing me. What on earth is a qualified lead?
Well, it's someone who has given you their email address but, upon further investigation, you realise is not really your ideal customer.
- They may not have the budget to be able to afford your product/service.
- They may be in the wrong country.
- Your product/service may not provide the exact answer to their problem.
Qualified leads are those leads who are actually in a position to buy.
If your percentage of qualified leads generated by the website is low, then your sales team have little or nothing to work with and they are going to start to get very grumpy.
You need to look at the type of content you are putting up. What keywords are you going after? How can you attract the right people who are in a position to buy?
4. Close Rate
However, if the website is delivering quality leads, but sales isn't closing them at an efficient rate, then questions need to be asked.
Inbound leads are more focused on research and being helped, that makes them very different to the traditional leads that sales is used to calling. If your salesman tries to blast them with a cold-call-style sales message before they are ready, it is counter productive to the process that has qualified them in.
Closing needs to be done carefully and with the same values that brought them to the site and encouraged them to exchange their contact details.
5.) Lifetime Value
This number helps you to identify what a highly-qualified lead is worth and why it is so important to bring more of these people to your website from the outset.
Is there any easy way to measure your KPIs?
Sure, use our ROI calculator!
Click on the image below and start inputting your data to find out how well your website is working.