Have you ever looked at your website and thought it could be better, but you didn’t know how? Maybe you didn’t know what you wanted the purpose of your website to be. While your website could serve as just a digital business card, it could also be used as a tool to generate revenue for your business. In order to have a “better” website for your B2B business or one that you are proud of and brings value to your business, you need to identify what the purpose of your site should be. Do you want to generate revenue, leads, and improve your conversion rate? However you decide, you need an objective. Once that objective is identified, it will be easier to achieve your business goals through your website. Without a clear objective, your website efforts will quickly run off-track.
First, let’s go through the proper way to set a goal – the SMART way. The SMART way consists of setting Specific, Measurable, Attainable, Relevant, and Timely goals. Setting SMART applies to your website, too! After determining what the purpose of your website is going to be, you can use the SMART goal-setting method to plan out how you are going to reach your objectives.
How Do I Turn My Website Into a Revenue Generation Tool?
If you have tried to generate revenue through leads and conversions from your website before and were unsuccessful, or if you have never considered how your website could be used as a revenue tool, we encourage you to keep reading!
Generating revenue is one of the most common goals for a B2B business. However, you cannot blindly launch your website expecting the revenue to flow in immediately. B2B brands should be placing emphasis on generating leads and improving their conversion rates strategically in order to see a boost in revenue.
Many B2B businesses are still using traditional lead generation methods, such as referrals, advertising, cold calling, direct mail, etc. If you want to use your website as a tool to boost your revenue stream, you should include lead generation into your strategy. The best way to do this is to get your marketing and sales departments involved and working together.
Research shows that 98% of business website traffic is unconverted, which leaves your sales and marketing teams with only 2% of leads from your website. For your website to generate more leads, your potential clients have to be able to find your business. Your marketing team should be focused on polishing keywords, SEO, links, forms, and calls to action. Additionally, it is ideal that your team has a content marketing plan and is publishing high-quality content. This is where your sales team comes in. One of your website objectives should be to prove to prospects why they should be using your product or service to solve their obstacles. Your marketing and sales departments can collaborate on producing content that will show potential leads just why they need to work with you.
Improving Conversion Rate
If you want to improve your conversion rate, you must look at your website through your prospects’ eyes. Is your information clear? Is it easy to access? Does it give your buyer confidence that your products will help solve their problem? Many times, your website is the first time your prospect is seeing and interacting with your brand. The quality of your website and the overall experience they have while on your site will correspond with how they view your products and services.
Buyers want to make the right decision when it comes time to purchase a product or service. They will typically take longer to make their decisions and conduct in-depth research – most of which will take place on your website. This is why it is crucial that your website has high-quality product images, easy access to technical information, and accurate buttons, links, and forms.
How do you obtain a prospect’s contact information in order to follow up and complete the conversion? A great way is to offer something of value for free, such as an ebook, guide, or even a consultation, in exchange for their email address. Once you have obtained their email address, you can start a drip campaign to continue to offer help to solve their challenges. At the end of your drip campaign, make your prospect an offer – a consultation with a team member, a demo of your products or services, or another option that could help you make the sale.
The Power of Analytics Collected From Your Site
Earlier in the article, we talked about SMART goals, and this is where it all ties in. Analytics can help you to observe how the objectives that you have set for your website are performing, and how you can assess and improve moving forward. For your website, you want to be setting SMART goals – which can be done with the help of collecting and measuring analytics from your website. In order to develop goals that are specific, measurable, attainable, relevant, and timely, you need to have a starting point.
When it comes to lead generation, it is best to gather analytics using a percentage rate. That percentage rate will account for fluctuations in monthly traffic and provides meaningful comparisons of your business’ lead generation performance in the past. Be sure to track qualified leads rather than total leads. This way, you are tracking leads that have actually gone through, rather than those who have started out as a lead but ghosted along the way. Also, set specifications for what you consider to be a qualified lead.
Once you have determined what exactly is a quality lead for your business, you can create a SMART goal based on where you are now and where you want to be within a certain timeframe.
Your conversion rate is a percentage that measures the capability of your website to capture site visitor information – like an email address or other relevant contact information – and use that information to convert them into a potential client. Conversion rate metrics can also help to measure any changes in the quality of your website’s traffic. Similar to lead generation analytics, you can use your current conversion rate to develop a goal using the SMART method.
In this article, we have discussed just a few ways you can turn your website from a simple business card into a tool to generate revenue for your B2B business. Are you looking to have a “better” website or one that brings value and revenue to your business? The Growth Engine can help! Contact our team today to learn more about how we can transform your website into a source of revenue!