Just like when you were in school and wanted to know how well you did on a big exam, you want to know how well your website and digital marketing efforts are faring. While you can’t grade your efforts based on a concrete A-F scale (though that would be nice, wouldn’t it?), you can calculate your return on investment (ROI).
Your website ROI is an important key performance indicator (KPI) that shouldn’t be overlooked — it can give you valuable insight into your website that can be used to your advantage.
In this article, we’ll look at what exactly your website’s ROI is, how you can calculate it, and five strategies to improve it.
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What is ROI?
Your ROI is the return you get from investing in marketing efforts, whether it be from social media, advertising efforts like email marketing, SEO, or, in this case, your website.
Like we said earlier, your website’s ROI is a KPI, or a metric that helps you measure whether or not your marketing efforts are helping you to achieve your business goals.
Knowing your website’s ROI is extremely important because it helps you to see how your site is performing. Whether your website ROI is good or bad, you can use that information to constantly make improvements to your site.
How to calculate your website’s ROI
You can’t start adjusting your website so it performs better unless you actually know what your ROI is in the first place. Luckily, you’ve come to the right place because your friends here at WebFX have got you covered!
Most companies calculate their digital marketing ROI with the following equation:
( net profit / total online marketing costs ) x 100 = ROI
While that may look like a scary equation (you’re talking to the Queen of Hating Math, here), the math to measure your ROI is actually quite simple! Your net profit is just your revenue minus your costs.
Once you’ve done the correct calculations, you’ll get your digital marketing ROI, which can be expressed as a percentage or ratio, whichever you prefer.
For example, if you invested $5000 into your digital marketing efforts and earned back $30,000 from it (first off, good for you!), you’d have an ROI of 500%, or, as a ratio, 5:1 (meaning you’re earning back $5 for every $1 you spend).
5 strategies to improve your website ROI
- Optimize your site for SEO
- Use a mobile-friendly design
- Monitor site metrics and make improvements
- Create content centered around user search intent
- Include clear calls to action (CTAs)
With these five strategies in mind, you can create and maintain a website that drives a higher ROI and revenue for your brand. Check them out in more detail below:
When your website ranks higher in SERPs, you increase brand visibility and have the opportunity to nurture and convert high-quality leads. Why? The users that come across your site because of SEO are already looking for your business and others like it. All you have to do is entice them to click your link in the SERPs.
You can optimize your site for SEO in a few different ways to drive your digital marketing and website ROI, including:
- Integrating keywords and phrases that match search intent
- Using responsive web design
- Optimizing header tags
- Using internal linking
Let’s talk a little more about responsive web design because it’s important if you’re looking to boost your website ROI and user experience (UX) on your site.
Responsive web design allows websites to seamlessly display on devices with varying screen sizes like phones, tablets, or laptops. Your site designers should ensure your website is mobile-friendly so users can access and navigate it from anywhere, and any device.
Believe it or not, 74% of users are more likely to return to a site if it’s mobile-friendly. This is because people spend 70% of their Internet time on mobile devices rather than other devices like desktops and laptops.
That means without a mobile-friendly design, you’re likely missing out on site traffic, conversions, and revenue.
You can test whether or not your website is mobile-friendly with Google’s free Mobile-Friendly Test. Simply enter your site’s URL to see how well it scores!
You have tons of valuable information at your fingertips — don’t neglect it! Monitor your website’s metrics, whether it’s impressions, click-through rates, engagement rates, etc., and use that information to constantly improve your website for the better.
With hard data telling you how well your website is performing, you can identify elements of your site that aren’t performing well and make improvements, so your website continues to draw in customers.
WebFX’s MarketingCloudFX makes it easy to track your site’s metrics. With billions of data points to offer insight, you can start capturing more leads, traffic, and sales in no time!
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Understanding user intent, or search intent, is critical when creating content that encourages user engagement and drives website ROI. By creating website content based on user intent, you can draw more audiences to your site and offer helpful, informative (and sometimes entertaining!) content that turns casual users into paying customers.
You also stand a better chance at showing up in SERPs because you’re essentially predicting what your customers will be entering into search bars. This way, you could be one of the top search results and nurture high-quality leads that are in search of a business like yours.
To determine user intent for your target audience (or any audience, really), put yourself in the mind of your customers. If they’re looking for a business like yours, what are they going to type into the search bar? Use those keywords or phrases in your website content to start ranking on SERPs for those words so you can start attracting new leads.
Clear CTAs give you the chance to tell your audience what to do without sounding bossy.
CTAs are sprinkled throughout your website and tell your customers to take a certain action that benefits your business, whether it’s to “Buy now,” or “Sign up for our email list!”
By including clear CTAs throughout your website, you give your audience a chance to easily convert to paying customers. CTA buttons make it easy for users to complete a certain action because they take users directly to the appropriate pages to either make a purchase, contact you, sign up for emails, or anything else you might want them to do.
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