According to our friends at several banks, if you don’t have a website you are at least 50% less likely to get any funding. No financing for new equipment. No loan for that new property.
And, they consider the website to be a direct reflection of you and your business. They know that businesses that have modern, functional design and practical interfaces to their customers:
1) Understand how people purchase goods and services these days, and
2) Get how to make money from their technology investment.
70% of respondents prefer to shop their favorite retailer via the Web
97% of Internet users in the U.S. now go online to shop for local goods and services.
Questions that banks ask of businesses are also related to the ways in which a business can make money off of their investment. So what is the return on investment in a website? Besides selling your products directly through the website with an e-commerce offering, you can also make money by generating leads for your business. Even the mere act of adding users can be worth billions.
Don’t scoff. Ask the folks at Facebook. Or Tinder.
If you are reading this, chances are you have more than a hunch that your website could be making revenue instead of merely costing you an arm and a leg. Little things like SEO, blogging, and social media go a long way. These communicate with your customers and allow your brand to become part of their lives and experience. And this is just the start.
Bigger things like lead generation, contact forms, newsletters and white papers take a little programming knowledge…or competent firms to install. These will capture web traffic and turn browsers into clients. It can be time consuming or expensive, but giving the random browser the chance to turn into a real paying client will demonstrate the ROI immediately. Remember all those phantom visits in your analytics? Well put a name to an IP address, and a client on your books. And then there is e-commerce. Selling directly to the consumer. This can be accomplished by selling products through a modern catalog, with inventory, suggested selling, and anti-abandonment shopping cart technologies. (Over 70% of shopping carts are abandoned by shoppers online. That’s like 7 of 10 customers walking out of your store after standing in line to buy your products!)
Taking payments online for your products and services is a big part of this category, and is usually underutilized by most companies. We’ve helped several businesses lately to lower their transaction costs and make taking and processing payments easier. In one case, it saved the client an estimated $37,000 a year in costs. Tucknologies certainly isn’t alone, as many other firms offer very competent and results-driven products and services. It just goes to show that there is a lot of money that businesses could be adding…instead of leaving on the table.