Bloomberg released a report recently that included a fascinating infographic about the value of Facebook. Analysts think Facebook is worth about 202 billion dollars. A large part of this is due to their new mobile ads/applications, which is a good time to ask, does your website have a mobile-friendly version? If not, why not?
Okay, back to the infographic!
Notice how Google is in #3, and how they've moved beyond the web to being a full blown tech company, complete with products and services, and they're investing in new acquisitions. Apple's big announcements yesterday included not only their widely anticipated iPhone 6 and iWatch, but also their mobile purchase system.
If you aren't online in a robust way, graphics and facts like these ought to make you look again!
What is your website worth?
Let's start with the obvious, neither our website or yours is Facebook. Since we don't retail homes or directly seek to fill communities, etc., the value of our site is measured differently than yours would be measured. For an information or news site, there is a formula that includes:
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Reverse engineering of development costs
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Value of Content
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Traffic value
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Revenue
all of which (and more) web property analysts (yes, there are such experts who put appraise and put a price value on websites) use to figure the value of a website. FYI, depending on if you go low, medium or high, MHProNews – using these formula – has a value of $2 to $4 on the conservative side, to $6 million dollars on the higher end valuation. We can't eat that, but if we wanted to sell (and we don't), that's what the gurus say. Here is part of the reason why…
So when you are on our site, you're not alone!
Okay, now what about the value for your website?
Let's start with a disclaimer. I'm not a website appraiser, so this is my opinion based on practical experience building websites, doing marketing, having two decades in MH sales, training and consulting plus some research.
For most operations in our industry the value of your website ought to correlate with the traffic it brings you that is actionable.
Let's say you are a factory, a retailer or a community. If you website has a good number of visits, and is seeing a healthy number of repeat visits, that has significant potential value.
But one of the common comments we hear from prospects seeking a new or updated website, is that they get traffic, but they don't get a lot of calls or leads off their website. Clearly, that's not what your website 'practical value' report should sound like.
There are elements in a website that consumers are looking for, and if they find them on yours, terrific! Some are suggested in the icon above, but there is more, of course.
If visitors on your site don't find what they want, they are onto the next website in their search. That quick look – or “bounce rate” – is high on many sites.
Think of your website like a billboard on a highway, you have only seconds to impress your prospective visitor. If you don't get their attention in 7 to 10 seconds (and some say, as quickly as 3 seconds), a significant percentage of your traffic may leave or 'bounce' without looking further.
That's sadly what happens to many retailers and communities. Your traffic bounces, so almost no chance to do business as a result.
If your website hasn't had an update in 3-5 years, odds are good it needs a face lift.
The value of your website is directly tied to how much actionable business it is bringing you. If you are getting a steady stream of calls or leads, and you aren't converting them, that is a sales process or training issue!
But if your website is bringing you a good stream of leads, and if the quality of those leads are good, the math is simple. Take
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the value of a closed sale,
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times the number of opportunities you are getting,
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times your closing or conversion ratio.
That should give you a practical value to what your website is worth for you.
If your happy with those numbers, great!
If not, please give us a call or send us an email. Compare with others, you'll see why our clients give us good reviews. ##
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