Your Website Could Be Losing You Money
Do you know your website conversion rate? If you don’t, the simple fact is, your website could be losing you money.
Your Most Important Sales Person
Your website is your most important sales person. It speaks to more of your potential customers than anyone else in your company. Whether you invest hundreds in direct mail, spend hours of your time collecting reviews across websites such as Yelp, or you’re a word of mouth aficionado and everyone in your town knows you personally, a large number of your potential customers wind up on your website before picking up the phone to call you.
Lets consider a simple example.
Your customer is extremely happy with your work. They recommend your company to their neighbor. Their neighbor goes to the internet to get your phone number, to complete their buying decision. When they get to your website, will they be instilled with confidence? Will they be motivated to call you? Or will your website lose the sale?
Don’t just guess at those answers. Find out for sure. Find out your website conversion rate. Find out how much money you could be losing.
Whats Your Website Conversion Rate?
Your website conversion rate is the number of leads your website generates, divided by the number of people who visit your website. For example, if you received 5 phone calls from your website in a given month. And a total of 100 different people visited your website that month. Your website has a 5% conversion rate (5 leads divided by 100 visitors).
Now, let’s crunch the numbers a little further. Let’s say for each new customer you acquire, you charge an average of $250 per job. And because you do such great work, let’s say on average, each new customer hires you not just once, but more like 4 times over the period of a few years. That means each new customer is worth $1000 to your company ($250 multiplied by 4 jobs). We hope you manage to keep most of your customers for life, but for this scenario, we’ll keep things conservative.
Ok, now we can measure how much money your website made for you that month. If your website generated 5 new leads, and they turned into customers, your website earned you $5000 that month. Not bad. And remember, we were being conservative in that each new customer was worth only $1000.
Increase Your Revenue
But what if your website was even better at instilling trust and closing sales? What if your website had a 6% conversion rate? You can see how, even with the same number of visitors to your company website, you would now make $6000. What if your website converted at 8% or 12%? Chaching!
So the question is, do you know your website conversion rate? Are you confident it’s earning you as much money as it possibly can? It’s your most important sales person. You should know. If you don’t, the simple fact is, your website could be losing you money.
What’s more, if you make improvements to your website and manage to increase your conversion rate, no matter what it’s currently converting at, you can increase your revenue by thousands every month. How much would you pay to earn an extra $2,000 or $3,000 month after month?