Your Most Under Valued Asset

Posted by Douglas W. Richardson on Oct 17, 2018 9:32:44 AM

Website Value

Is your Company's Online Presence all it can be?    

“Marketing accountability (aka, Results) has emerged as a CEO level issue in a rapidly changing marketplace where intangible assets make up 84% of shareholder value – and brand equity, customer relationships, organic growth rates and innovation increasingly drive stock price.” – Forbes, October 2018

 

 

 

 

If I could only write one more Blog in my life I think it would have to be about how the majority of businesses out there neglect their Online Presences. If you think about your company’s homepage and other online assets in the terms of Home Value or Manufacturing Capacity, there is probably no more cost-effective dollar for dollar investment that you can make for increasing the value of a business than improving the performance of your Online Marketing, Sales and Customer Experience Ecosystem.

There will always be questions about where to start? Does a remodel of the kitchen or master bedroom deliver a greater return on your investment?  Thankfully there is a lot of information available online about the gain you should see from focusing in on improving different areas of your Online Presence, even though every business domain is unique. The results can be truly game changing for your organization. 

Let’s start with the basics, Website Traffic is the raw ingredient for all online success. You have to be found and seen to matter. There is a direct correlation between the quality of the design and content of your online assets and how effectively you will be found by the search engines and in turn by your potential customers that you are targeting.

Make a serious well coordinated effort for some web improvements and watch the results flow in. B2B companies that blog at least one to two times per month generate 70% more leads than the companies who don’t blog. Even better news is that Content Marketing investments like eBooks cost an estimated 62% less than traditional Advertising and generate about three times as many leads. (Source: The Demand Metric)

Refining the relevancy of the traffic you bring to your website, blogs and social media is the next step you should take in increasing the value of your online presence. Think about how broad or narrow the market is for your product and set an initial monthly traffic goal you would like to achieve, to start. You are going to need to bring enough traffic from paid and organic sources to be happy with single-digit percentage counts of this traffic converting to identifiable leads showing varying levels of intent to become your customers.

Here are some real-world B2B, B2C and Saas company examples I have seen for the funnel down conversion rates… but remember every Website's online audience is unique and there are hundreds of factors that effect its metrics.

Monthly Traffic  -
Unique Web Visitors

Qualified Leads

Deals / Quotes

New Customers

1,000   (Small) 

20

5

2

10,000   (Medium) 

90

22

14

25 million  (Very Large)

15,000

2,000

800

These types of numbers can take months if not years to reach and successfully cost optimize. The ideal goal is building an ever growing online pipeline of Web Traffic, Leads, Deals and New Customers. You need to work the math forward and backwards to calculate what is plausible and sensible for your own business model and size. So many of these recommendations seem obvious to me, but the reality remains that too few companies manage their Online Marketing and Sales investments based on these core metrics, There is an ideal set of traffic generation metrics to fit every product, service and/or brand.  

Continuous Process Improvement
Once you generate quality traffic and get these visitors to your online content Conversion Rate Optimization (CRO) tactics and testing should become an integral part of your time invested. Just adopting an Inbound Marketing approach to your online assets can double your website’s average conversion rate from 6% to 12% according to HubSpot’s State of Inbound Report. The Hot-jar application is also a great tool to see where and how your website visitors are interacting with your website with heat-maps. The use of these Insight and Analytics tools are time and money well spent with the reported ROI gains for applications like Hot-jar producing a reported 223% increase on website Conversion Rates (Venture Beat).

Cha, Cha Changes
Please raise your hand right now if you built a new website in the past few years and it remains virtually unchanged today?  Not Good. Its an over simplification of the concept, but search engines like Google love fresh content and if your website is “stale” Google will stop visiting and indexing your website’s pages in its search engines results. You need a plan to keep sections of your Online presence up to date. Frequently adding keyword optimized content, such as blog or article postings, allows you to optimize the article with pertinent keywords that can attract new visitors to your site.

Engage Me!
Focusing on relevant content will enable you to engage with your visitors more effectively. One of the best ways to do this is to aim for content that helps to solve problems, finds the right tools to do so, and/or teaches a new skill. More engaging content scored by factors like Time on Page and Return Visits is rewarded by the Search Engines like Google with lower costs to use Google’s Advertising Platform.

On the paid Ads side of Google, the Company rewards high-quality ads with high engagements rates by reducing the Cost Per Click (CPC) costs. One of the best ways to do this is to ask and answer questions between your search ads and the page that the click-through leads the visitor too.

Studies have shown that ads with a quality score of 10 of 10 receive up to a 50 percent discount on a Keyword ad that has a score of five would pay. It will also be harder to make your ad appear for your given keywords. These costs and clicks through to your website can really add up. I have seen a 400% difference in the same company’s Google Ad costs before and after being optimized from about the same number of paid clicks each month.

Social Selling
In the past 10 years we have seen a revolution of new Social Networks some with audience sizes in excess of a billion active members. I really try to help clients understand what you should and should not expect to gain from being on Facebook, LinkedIn, Instagram, YouTube and/or Twitter in North America, In-spite of the hype, real statistics show that only the smallest percentage contributors ever become rich or famous from any of these Social Networks organically. In recent years visibility on Facebook and LinkedIn have evolved to become very much “pay-to-play.”

My best advice is to think of the Social Networks as great places to strive for opportunities for increasing awareness and engagement for your Brand’s Identity. Time is best spent on these Social Networked to build the authenticity of your brand and grow your subscriber counts as a cost-effective communication network for your company, its product news and related announcements.

In short, you need a fully developed set of strategies and tactics to be effective for your business through on one or more of these networks. Curating your audience and subscribers engagement backed by some careful paid boosting from your social real-estate is the most sustainable method for generating long-term dividends from your Social Media investments,

The Shinny New Object vs. Meaningful Technology
I think we can all relate to the pros’ and cons’ of the introduction of technology into our work and personal lives. New Technology Design and Implementations can sap workplace productivity and even be downright painful when not planned correctly.

With that said, I have never seen a time in my 30+ year Marketing career where extraordinarily powerful software is offering you so many different competitive advantages.

Marketing and Sales Technology connected to your website, email, advertising and social media should be part of all businesses today and can be thought of on two different levels…

  • Large Ecosystem-based Applications like Salesforce.com and HubSpot that entire Business Development strategies can be planned, managed and measured by in real-time. This "platform" is a capital asset and needs to be planned and managed as such. 

  • Plug-In Applications that integrate into your Ecosystem application to enhance the overall capabilities and value of your Marketing, Sales and Customer Experience technology stack. There are over 7,000 of these MarTech Plug-ins to consider using.

Together these two classes of these MarTech applications can power an almost endless range of business case needs to increase revenue, brand loyalty and/or reduce costs and the time needed to complete steps to advance the relationships with your visitors, leads, prospects customers and brand loyalists.

The addition of Marketing Technology can make a dumb online presence smart in a matter of months. A well organized and managed Marketing, Sales and Customer Experience Ecosystem has the power within a couple years of implementation to leave your market competitors in the dust. Successful Digital Transformation gives your team the “super powers” of reach, insights, speed of light reaction times and actionable big data knowledge to literally predict the future of your Business in many cases.

Here are some more statistics to appreciate...

  • Marketers with successful lead-nurturing programs reported, on average, a 20 percent increase in sales opportunities from nurtured leads.
  • 78% of high-performing marketers identify marketing automation as a key contributor to improved revenue.
  • 84% of top-performing businesses use or plan to use marketing automation software.
  • By 2020, 85 percent of customer relationships with businesses will be managed without human interaction. (Source: Gardner 360 Customer Summit Report)  

The Great Value of Small Cumulative Wins
This quest to advance the intelligence of your Online / Digital Ecosystem all needs to be accomplished with some baby-steps and intended trial and error before fully scaling the size and scope of these capital investments that can ultimately be worth millions of dollars of new customer revenue to your business.

I like to ask clients to think of a few key benefits they would like to see early-on from this approach to advancing their Online Presence. I also like to help clients to dream about what is realistically possible for their Digital Domain one, two, three or five years from now. This way we don’t get the cart before the horse, and together we are able to shape an agreed vision that matches their Organization’s longer-term aspirations for growth, market conditions, valuations and brand equity goals.  

Today what was once thought of by leadership as only an online brochure, these web-based Digital Transformations Initiatives to advance the Customer Experience are leading the way to increase the valuations and communicate brand appeal for Organizations so much further then any brick and mortar upgrade ever could.

You just need to start with a qualified Architect and General Contractor like MORE Online NOW, LLC to help guide a successful Design and Build of your most valuable under developed property. 

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Topics: Marketing Automation, Website Design, Content Marketing, Sales Lead Generation, Online Marketing, Tampa Marketing, SEO, CRM, Digital Marketing, Inbound Marketing, Social Media, Google AdWords, Clearwater Marketing, St. Petersburg Marketing, HubSpot, Sarasota Marketing

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As the official company Blog of MORE Online NOW LLC the KNOW MORE NOW! blog offers its readers advice, know-how and recommendations for ways to advance your own Online Marketing and Sales capabilities.  

Topics Include:

  • Planning Digital Marketing Strategies
  • Selecting and Implementing MarTech
  • Building Your own Lead Generation Machine

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