What is the ROI on a B2B website?
It's a question on the minds of many B2B marketing teams, MDs, CEOs ...
Of course its a simple equation.
Sales from website / Total cost of website x 100
So if you've tracked £100,000 of sales with a website cost of £15,000, your ROI is 667%. For every £1 you've spent you've earned £6.67.
Except that's wrong!
This only measures sales from your website, which are difficult to track for many B2B companies.
It needs to take into account:
- Brand awareness which leads to future sales.
- Reduced costs from PDF downloads, training videos, recruitment portals, customer service areas.
- Leads that turn into long term customers where you need to calculate the Customer Lifetime Value (CLV).
These are very difficult to measure their contribution to profit for an ROI (but not impossible.)
What is more effective is to set objectives and goals for your website and measure those.
Here's some examples:
- An objective of your website is to create leads. Setting a goal of converting 2.5% of your website traffic into leads, by improving your website, is a realistic goal.
- Increasing brand awareness. Measure 'Direct' traffic to your website. These are people who know your URL or have seen your company name in your marketing. Increasing your Direct traffic by 12% would be a brand awareness goal.
Plus measuring the engagement time Direct traffic spends on your website. The longer the better. Increasing the average engagement time of your Direct traffic from 1 minute to 2 minutes is a good example of a goal for raising brand awareness.
ROI is just one way of measuring the success of your website, don't forget to use other metrics.
Need more website advice?
We are a specialist B2B web design agency that can offer you specialist advice that will improve your website ROI.
This article was updated on .
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