A curious reader wrote to us today complementing us for our post When to approach a web design company? which she found on Google on page one searching for a similar topic and raised some more serious comments about the typical RoI (return on investment) for an SME (small and medium scale enterprise) of the website it launches.
While we will discuss the various tools for calculating the tangible RoI (there will be many benefits which one will struggle to put a value to which should be included too in the calculation – that’s for another day) for your web-investment, here’s a quick ready-reckoner for young businesses to decide if or not “web” is the “way forward” for you.
- It’s expected, it’s really the norm today. It’s the co-existence of brick-and-mortar and click-and-portal business that gains the most confidence from buyers. Think of it in terms of equipping your business for the competition in the market too, if your competitors have it, it can do your business harm if you don’t have one.
- Three Cs – Create, Communicate & Collaborate. It goes something like this: when you get a website you create a medium to sell your products and services. It also gives you a platform to communicate in real time to your prospects, customers and suppliers. That’s however not the end of the process. They can communicate back to you too via the same medium, better they can even communicate to each other if you create an open platform like a forum, and that’s when you start a process of collaboration and great ideas start flowing!
- Web is cost-effective: we came across many who thought of web as a necessary evil (regarding cost of course) but quite the contrary, it’s much more cost-effective. You need less printing of brochures; you can communicate via emails which is less expensive than postal letters; you can make slight changes to web at almost no cost if you run a content management system at the back-end, a domain name costs almost nothing (max 10 USD per year) and so does shared hosting for small to medium scale hostings (for further information check this out). Think of its lifetime too. When you send a printed brochure to a prospect or a customer its lifetime is determined by them throwing it to the bin. With web, they can come back and check you out whenever they want!
- You can measure it! This is true. With smart technologies such as raw web statistics or more refined Google Analytics tools you can measure exactly how many people are visiting your websites, their demographies as well as geographies, their age group, where they found you (search engines) or even which keywords they searched when they found you. Try gathering such useful customer behavioural data from your non-web communications?
- Faster. Wider. Cheaper. You can now target your prospects in any geography at any time at a fraction of your marketing cost using the Search Engine Marketing strategies. Just to give you an idea, a click on your advertisement on Google will set you back about 5 pence/cents – sure you never thought you could advertise globally that cheap?
- It’s 24 X 7. Web is available around the clock. It does the work for you even when you go to bed.
- Cost Reduction is easily achieved if you have a large workforce on the road as use of web services will reduce many manual tasks in your workflow! Saves you money, time and resources!
Ready to explore more? We are only a mouse click away to help!