How to clearly identify business goals and build processes for a website to succeed online?
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- First Steps for your business to Succeed online
- Website profitability Uganda
- How to set a goal strategy for your website
- How to set website revenue goals
Are you starting up a business with a website or marketing a running business, this is the verified Guide with the right tested steps to Succeed online
Right now you about to learn how to establish a clear view and understand how your business works with the goals you have for growing your business, to enable you to have a clear direction, clear measurements, and goals to work for.
What are your business goals?
Do your business goals align with your entire marketing?
- If your goals are to getting develop new customers, are you then marketing to bring in new customers and measuring yourself according to that goal?
- If your goal is increased profitability, well this is simply what you get thereby increasing your revenue and decreasing expenses. Is that part of your online marketing plan and are you evaluating your business based on those goals?
Then it comes down to setting a goal but understanding the process that creates your business goal achievable.
Identify what it is that you want to achieve specific and then look at the process that affects that goal in order to understand the actions and steps that you need to take to achieve that goal hence the success of your business online.
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At Trophy Developers, we have a comprehensive get started web page view with questions to design your website which helps us to know more about the goals of your business to get an effective website to grow and succeed on the internet of things.
Typically, they will respond I want more;
- Website visitors,
- Followers (Social Media),
- Engagement, etc.
They will answer with a lot of things that sometimes have nothing to do with increased business or success of their business.
They are looking for more website visitors, they are looking for more subscribers but ultimately when it goes down to it, any business owner or any digital marketing agency is looking for increased profitability of that business to grow or succeed online.
They want to make more money and decrease costs. Because when there is more profitability, the business grows. There is more money available for re-investment, for additional marketing and business growth.
And if that’s ultimately what you want as a business, then we need to look at everything;
If you want to increase profitability, then everything’s on the table.
- Processes (day-to-day activities)
- Workflows (at the workflow.)
- Tactics (the entire process of business decision-making)
- Marketing (marketing that you are doing your business operations)
- Assumptions (the assumptions that you are making that are reflected in your digital/online marketing.)
You’ve got to look at the entire workflow designed to achieve the business website goal.
So we start by looking at, what is your goal?
How to set business website revenue and Operation Targets to succeed online
Set business website revenue and Operation Targets
Do you want to increase revenue from your website by;
- New customers___%?
- Developing existing customers___%?
- The average order on your website?
- Upselling ___%?
- Cross-selling ____%
- Sales close rate from lead generation____%?
Probably all of these will require a different process to follow up on the goal.
We chose an example of their Client TopSafarisUganda.com website.
First things first If we want to increase their Website revenue by USD 500,000, well that is directly dependent upon a number of steps in order to get to that goal.
In order to increase their revenue by $500,000
we need to look at the value of an average tour.
Now just simple math tells us that we need to sell over a thousand tours in order to attain that amount of revenue.
Well, let’s take one step further.
About 80% of their bookings result in a tour.
We’ve about a 20% cancellation rate and so that means, we need to have almost 1400 tour bookings this year in order to achieve that $500,000 revenue goal.
We’ll look back even further in the step prior to the tour booking and that’s the number of people that make a tour/safari inquiry through the website.
About 60% of those people that make an inquiry through the website, end up booking.
So now we need to target about 2300 inquiries. However, those website inquiries because they come through the website, we need to take another step back and look at how many website visits we need to have based on their current website visit to the inquiry rate.
The website has about a 10% response rate of visitors making an inquiry which leads to a booking which leads to a tour, which leads to revenue.
Everything is dependent upon a prior step.
This is the process. And in order to set a revenue goal, you need to understand the process that it takes to get to that goal so that we can measure the entire system. Now we can look at their existing channels.
in order to see where we are and compare that with where we want to be. Now, this is an existing channel of subscribers that we have, about 10,000 subscribers to TopSafarisUganda.com, and about 98% of their emails are being delivered.
About 2% are not being delivered because people change jobs, they change addresses and the email addresses just drop out. So about a 90% delivery rate (Use Email web marketing tools (Applications) like Chimp mail if you haven’t done any email marketing to establish the email delivery rate or your webmail)
We can look at the industry averages of an open rate or a click rate on the email, however, we can see that we have about an 8% click rate off of the emails.
The next step in the process is for bookings. So out of a thousand people that will click on the email, that will result in about 200 bookings.
That results in 180 tours and their current revenue from existing customers is about $80,000.
By understanding the existing channel (Website), we can now set goals for how much we want to improve their revenue by looking at all the steps involved that affect their final revenue number. Look at how your business goals are reflected in your marketing. Know where you need to improve in order to affect your final goal.