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Are you losing business revenue?

Do you have a website for your business or organization? Chances are you do, and if you don’t, the content of this article is even more relevant to you and your bottom-line. Business revenue is why we go into business in the first place and having a strong web presence can help your business grow.

Website Marketing Concept Blackboard

 

In most instances, a website is intended to help an organization grow in some way.

As an organization you might want visitors to call you for a quote, “Like” your Facebook Page, enter in an email address, or follow you on Twitter. Or you might want to get someone to decide to buy goods and services directly from your website. Maybe you want all of the above.

Regardless of what your goals are, you should focus on optimizing two key aspects of your web presence.

First and foremost, your customers need to be able to find you. If they Google something related to your product or service, and your website doesn’t show up in the results, your potential customers will go somewhere else to get what they are looking for. So ranking well in the search engines is very important to attracting potential leads. Making sure you rank well is known as search engine optimization and should be a key factor in your marketing efforts.

The second factor is known as Conversion Rate Optimization (CRO). This is heavily influenced by the design and flow of your website as well as how well your copy explains the benefits of your product. You want to make it as easy as possible for your visitors to navigate your site and take action in some way.

How Your Web Presence Can Effect Your Business Revenue

So let’s take a look at some sample data to show how SEO and CRO can effect the yearly revenues of a small business.

Let’s say that a law firm in Guilderland, NY specializing in criminal law wants to analyze search data to calculate possible lost revenue because its website ranks poorly. The following table shows how many searches are made in the Albany area that might be relevant to a criminal law firm’s marketing strategy.

Keyword

Yearly Searches*

Criminal Law

1080

Defense Attorney

240

Criminal Lawyer

240

Criminal Attorney

120

Criminal Law Attorney

120

Criminal Defense Law Firm

120

Total Search Volume for these Keywords

1920

If the law firm’s website does not rank well for these search terms, then that law firm is missing out on 1,920 possible leads over the course of a year. Using this data and calculating some basic conversion rates we can estimate how much potential revenue is lost on a yearly basis due to poor SEO.

Annual Potential Loss of Business Revenue for XYZ Law Firm**

Click Through Rate (CTR 25% )

480

Visitor to Lead Rate (VLR 7%)

33.6

Lead to Retention Rate (LRR 12.5%)

4.2

Average Retainer Amount

$10,000.00

Potential Annual Revenue Lost

$42,000.00

If you want to get a general idea of how well your website is optimized and begin to maximize your revenue potential, please contact me for an audit of your website. It’s FREE and you will receive a personalized report on some of the most common factors influencing search engine rankings.

*Average monthly searches extrapolated out for a yearly average.

** This data is meant to be educational and intended to be a demonstration only. Results may vary depending on many factors.

 

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