You can spend thousands on a new website, but if you’re not measuring the website’s success, you will have no idea if it was worth the cost.
Thankfully, there are a few different website metrics you can look at to see how successful your website is. According to Grow Think, this is very beneficial, as if you don’t know how successful something is, you can’t improve it.
Here are five more website metrics you can measure to see how successful your website is.
Overall Customer Value
Customer value isn’t the easiest metric to calculate, but the findings will be very valuable to your business. You can find your average customer value by looking at all the purchases an average customer will make with your business. Are most customers one-time buyers or do your customers come back to make repeat purchases – and if so, how many? This can help you to estimate how valuable your website is.
Lead-to-Sale Ratio
If you are aware of your lead-to-sale ratio, you are aware of your sales success. Work out this metric by dividing the total number of sales with the total number of leads to see how many sales are linked to your leads.
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Overall Cost Per Lead
How much money are you spending on each lead? You can work this out by comparing the monthly cost of your campaign with the total number of leads. If the leads are fairly cheap, this means that your marketing plan is working, but if they are very expensive, it may be best to consider a different marketing strategy.
Customer Retention
It can also be useful to look at your customer retention rate, as this will let you know more about your repeat customers, but this is less useful if all of your customers tend to make only one purchase.
ROI
Your return on investment is important, as it shows how profitable your website is. You can calculate the ROI for your website by comparing the cost per lead with the lead-to-close ratio. Once you have a number, compare that figure with your average customer value to work out how profitable your website is.