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Your website; is it a cost or an investment?

Your website; is it a cost or an investment?

The goal of this post is to help you see that websites can add value to your business.

Why You Should Treat Your Website As An Investment Rather Than A Cost?

It’s a common habit among businesses to vouch for affordable services so that they don’t have to carry forward the additional costs to the customers and instead, make the most out of the price they charge them. However, this might not be true for every situation. While site owners believe that building a cheap website gives them a competitive edge, they might actually be experiencing the absolute reverse. Several companies believe they don’t have to pay an extra penny if their needs are satisfactorily being met by a Tumblr account, a Facebook page or a WordPress blog. Nevertheless, businesses need to evolve and expand over time making such meager online efforts obsolete, as competition gets even fiercer.
Even though basic accounting principles suggest that marketing efforts are categorised under company expenses, today’s smart executives and digital marketers consider it to be an investment. It is crucial to make a mind shift from traditional approaches towards modern advances, which consider marketing as an investment and content an asset. In order to create lucrative websites that generate leads and encourage conversions, it is important that companies invest substantially in content so that their target audience can deem their website useful. Companies invest greatly in technology, people and equipment in order to prosper, so why can’t they do the same with their content?

The Problem With Viewing Your Website As A Cost

Your company’s website is a depiction of your brand and unlike a building or equipment it never deflates. Here are some questions that you should not be asking when it comes to determining the price of your website:

  • What is the most affordable way to build a website?
  • How much will a website cost?
  • Will you design a website for £XX.

Asking such questions poses that companies are unaware of why they want a website and lack strategic clarity regarding online goals. Due to this lack of strategic clarity, too often, companies regard spending on a website design fruitless thus, preventing them from looking at the bigger picture. The final result is a horribly designed website, which doesn’t meet the needs of the customer nor the company – in other words, it is complete waste of resources.
It is vital to realise that when companies land a sale, the credit is often given to the salesperson. However, little reference is made to the materials and tools that the salesperson used in order to bank that sale. It is most likely, he used the company’s website content, blog posts, videos, ebooks, email newsletters or social media channels in order to attract potential target audience. Unless these materials and tools aren’t optimised for their specific goals – which is to provide useful and helpful information to customers, it highly unlikely that the salesperson would have succeeded in his/her endeavour. Therefore, it is imperative that companies establish clear strategies when it comes to designing an effective and visually stimulating website.
Unfortunately, if you treat your work online as an expense that needs to be reduced rather than as investment, which needs to be maximised, this might work against you. Worrying too much about marketing as an expense will add pressure to your marketing efforts, causing an unsuccessful inbound marketing strategy. This might further lead to dull online results thereby, creating a decline in revenue. Always remember that as long as you worry about costs, you’ll end up with something that is definitely cheap but bears no value in return.

Pay More Attention to ROI than Costs

Regardless of what your online needs are, you need to focus more on optimising ROI and not be concerned solely about costs. Return on Investment is the value you receive divided by the cost you incur. There is a reason why you might see certain organisations request for complex solutions such as full-featured, stunning online stores or dedicated web interactions like Kickstarter campaign tracking. All these leading companies to strive to deliver value to their customers so that they are able to enjoy a higher ROI. In order to do so, you can’t possible use a cheap website that has no engaging content or effective call to action strategies.
Measuring ROI has become even more effective and simpler with the explosion of data. Rather than tracking performance through inflated numbers, marketers can now track it through the digital landscape using cutting-edge tools. Companies now have access to information as detailed as a customer’s click but how are companies using this data to their benefit? The sad fact is that many are oblivious to this kind of explosion of data. Why is this so? It’s quite simple, companies are unaware of how to use this data to their benefit therefore, making them hesitant and unsure whether a sizeable investment will do them any good.
If companies want to enjoy a higher ROI, then they will have to be optimistic about investing in the digital landscape. Hiring a professional creative agency that has  experience in this field will not only reduce unnecessary expenses but will also lead to improved performance.

It Still Can All be Done in a Cost-Effective Manner

It’s not necessary that you have to break the bank in order to reap the benefits of the digital landscape. There are several readily options such as sharing videos, blogging, creating a landing page, engaging on social media and much more that can help achieve your online goals without having to spend a lot. It all boils down to what you actually plan to accomplish by establishing a website. Cheap solutions are there to cater to individual’s needs that involve simply uploading a Youtube video or creating a Twitter account, whilst there are other comprehensive solutions that cater to other needs, which include creating an elegant online store, or web application.

A Checklist to Identify Whether Your Website is a Cost or an Asset

Still unsure about whether your website is a cost or an asset, well here’s a checklist which you can tick off to identify where building a website is truly worthwhile or not.

  • Is your current website catering to your business needs/goals?
  • Before developing the website content, were you clear about what brand message you want to send across to your target audience?
  • Did you create customer personas to connect with your target audience?
  • Did you use strategies or tools to drive traffic to your website?
  • Does your website highlight your sales process?
  • Does your website capture visitor details who don’t contact you?
  • Are you measuring your website’s performance?

If most of the answers to these questions are a yes, then you will be glad to know that you are on the right track. However, if they are a no, then it most likely you will need assistance from a creative agency like Weider Web Solutions.
Whatever your needs might be, it is highly recommended to hire the services of a professional creative agency like Weider Web Solutions, which has several years of experience in creating responsive web designs and guiding clients towards optimising their website. .

Action steps

Think about your website, if you knew it could be used to get you more leads and customers would you see it as an investment?

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