Does Your Digital Footprint Add Value?

The digital world has changed the way consumers shop and how companies go to market. In today’s environment, a company without social media, a responsive website and without online reviews has a very small chance of getting someone’s business. Peer-to-peer recommendations and diversified digital marketing strategies are the most effective ways to get a buyer’s attention.

Knowing what to do and where to invest depends on each individual business but a few things remain consistent:

·   Traffic: Are you getting foot traffic into your business or generating traffic to your virtual showroom (website)?

·   Content: Are you providing enough information for consumers to stay engaged and also for search engines to rank you higher on local searches?

·   Bounce Rate: Once you drive traffic to your site, how many people actually go past the homepage to where your product is? Is there enough content on your site and is it easily navigable to where people find interest in staying engaged?

·   Conversion Rate: Once you get people though a certain point of your site, or even straight from the homepage, are you measuring how many people are actually taking action and becoming leads?

·   Closing Rate: Do you know your team’s closing rate once a lead is submitted online or a buyer walks in the door?

These are important metrics that will help you understand your investment and guide you on what is most beneficial for your marketing strategy in today’s ever-changing buyer environment. There is no point in driving traffic to a site that is not engaging with visitors or creating a call-to-action. Suppose the following example if this was your business today:

Monthly web visitors: 700

Average bounce rate: 85%

Average conversion rate: 30%

Average closing rate: 65%

Average profit per transaction: $450

THIS MEANS THE FOLLOWING:

(A) 700 (visitors) x 85% bounce rate: 105 people actually come into the site

(B) Of the 105 people, 30% take action and become leads 30%: 32

(C) Of the 32 that took action, your team closes 65% = 20

(D) 20 customers at $450 = $9,000

To read other scenarios and ways to improve these metrics, continue reading this article on our site. We've also created a digital footprint calculator you can use to measure your impact and find ways to make the most out of your marketing investments.