Do you want to convert your website into an earning machine? We all want but not all of us to succeed. In this blog, I will cover how to create a website that earns money?
It never ceases to amaze me how many small (and not so small) business owners dive straight into the newest online shiny thing before they’ve thought through what they are trying to achieve. There are some questions you need to ask yourself before learning how to create a website that earns money. Here is the list of the questions that you should ask yourself before learning how to create a website that earns money?
- Defined a single online business objective?
- Segmented my customer/prospect base?
- Have I prioritized my digital channels?
- Selected my digital media?
- Established KPIs and reporting metrics?
Let’s talk through each point in turn.
Define a single online business objective
Websites can (and should) satisfy a wide range of business objectives. Your website could be used to:
- Sell your products online
- Generate leads for your business to be converted into sales later
- Provide information to prospects and customers
- Raise awareness of your brand and increase engagement
- Provide an online service (like the accounting service Xero for example)
Now, the reality is your website will (hopefully) satisfy more than one of these objectives. Our task is to create an online strategy for each individual objective.
Easy said than done right? Correct. But the point here is that we need to be making investment decisions based on rolling out a plan. Not haphazardly spending money here there and everywhere.
Segment your customer base
This should be the part that you’re the most au fait with. You engage with prospects and customers in the offline world every single day. What we need to is take that knowledge and apply it to the online world.
Segmenting your customer base in the online world isn’t so different from the offline world.
The key here is to identify the priority prospects that we want to get to your website to entice them to convert into paying customers. A useful way of simplifying this process is to think:
- who are they?
- where are they?
- how will they find me?
Select your digital media/advertising
The number of options is staggering, but digital media varies in its usefulness for satisfying different business objectives. For example, Pay-Per-Click (PPC) is typically very useful for driving qualified traffic to your website, creating online sales but less critical for raising brand awareness. Video is exceptional at educating and transferring information, but less likely to result in an immediate conversion.
Ultimately, it depends on what you’re selling; what kind of business you run; and who your customers are.
Establish KPIs and reporting
I can’t overstate how important it is to have a solid set of KPIs and metrics. Without them, you have no idea how effective your online marketing activity has been.
Some examples of online KPIs are:
- Sales conversions, cost per lead, lead to the sale time lag
- Social engagement metrics, brand awareness, brand consideration
- Readership numbers, Newsletter sign-ups, shares
- Customer feedback, service interactions, repeat usage
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