How much revenue does your website generate?
This is one of the first questions you should ask yourself when considering your digital marketing strategy. We ask our clients and potential clients this question a lot, and in most cases we get the same answer:
"I’ve no idea how much money my website makes, but I can tell you how much it costs"
The use of website analytics is critical to measuring the return on investment from your online marketing. There are three elements of your revenue generation that must be measured to give you a fully rounded view of your online ROI.
How many visitors find your website and where did they come from? Most commonly visitors will find your website from search engines, paid advertising (PPC), referrals (links from other websites), or directly (because they already know your website.)
Customer Journey Optimisation
Can the customer easily find what they need from your content? This aspect of website analytics will differ for each business, however the basic components are universal, e.g. How many pages were visited per session? and How long was spent on each page?
Conversion & Revenue
What is a sale, how many sales are you making and what is the value of each? With this financial information captured it can be cross referenced against the value of all the web pages on your website and you can prioritise the improvement of the website content based on what pages generate most revenue for you.
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