How to transform your web site into a part of your core business?
It would be clever to acknowledge that the digital strategy have become the hub of all activities in all channels for your organization.
You might need to improve your definition of what your core business is, which part of the value chain you are in, and what part the web is going to play. If your web page or presence in the digital universe doesn’t have a purpose you will never get your investments back. Even if your web page is cheap, it’s a waste of money!
On the other hand if you presence has a purpose, you should get your investments back and earn on it / save by it.
The very idea is to know the value of every user of your web page that act upon your core business. If you are selling a product, this means that as many of your visitors actually buy your product. If you are a public service it could mean that you saved money by delivering your services to a lower cost.
Visitors that you convert into users times value per convertion equals a unit value for you. If you are selling shoes online, you can easily figure this out. But your company might produce a annual report each year? Well the formula goes for this as well. You maybe want to have a lot of different stakeholders to read and understand your annual report. That’s your X. Today you maybe have to produce the annual report and have it printed, and distributed via postal services? An online annual ( or real time constant corporative report?) might cost less in production each year, certainly, there are no print costs, nor postal service costs. The savings of production and delivery per eks. is your VPC. The final value is the saving of sum of users reading and/ or downloading you digital annual report. You can use the same formula for your support system, by doing a shift from a phone / call solution towards a “ask Anna” automated and/or live chat system and so forth.
Furthermore it wouldn’t hurt to learn this formula by heart: X*CR*VPC=Value