So you already know what your accountant is telling you about your business, how important the bottom line is, where you need to spend and where you may need to cut back and what you might expect to get back from the Tax Man, but is it really telling you what your business needs in order to grow?
You may need to consider having your marketing company lead you through a Digital Audit of your business. The Digital Audit is really a healthcheck of how your website and online marketing is performing and can really help to uncover areas of your business where you can make positive changes. You can, if you like, consider it as a performance review of one of your most valuable 'employees'.
The Digital Audit can be of particular help in the following areas of your business:
- Understand your primary objectives and goals. Even give you the opportunity to set some objectives and goals if you have not already done so.
- Identify possible gaps and opportunities that you have not made note of before. These gaps and possibilities might just be a pivotal point in the direction your business could take.
Identify potential risk areas about where your business direction may be heading or where you are spending funds that could be better directed.
Identify your competitors. The digital audit will certainly identify your competitors and a further step to a Competitive Analysis will identify what they are doing that you maybe you should and even some of the things you are doing that maybe you shoudn't!
Assess your current market status to show you how you are standing up in the competitive market you have found yourself.
Develop new and improved upon marketing strategies by showing up those strategies that may not be working well for you and highlight those that are producing the results you might be after.
Identify potential new target markets and tactics to operate in those areas which up until now have been seen as risky or unprofitable ventures
In conjunction with the above the Digital Audit will show you how your website is operating, in that it will show the site's effectiveness in 6 key areas.
- The Reach (who you are reaching out to with likes, followers, channel views etc) This aspect of your online presence is vital to understand as it directly relates to your target audience. The Reach of your online presence can be measured by how well you are ranking in the organic listings of searches, how many comments, likes and followings and shares you are achieving in your social media campaigns, open rates, click rates and so on are all elements of how well your site is reaching out to your audience.
2. The site's Architecture (how well the site is set up and how well things link together) This also relates to how user friendly your site is. How effectively is the content shown and consumed. Load times for pages, links and site navigation as well as the social media set up.
3. Content effectiveness. This includes all aspects of how you want to relate to your audience, blogs, videos, white papers, case studies, audio as well as the text information relating to each of the website pages.
4. Conversion rates. How often does a visitor to your site end up converting to a customer? This relates to the assets you have on your site to assist visitors to move through the buyer's journey on their way to becoming a happy customer. Are there 'Calls to Action' and forms on the site, your social media pages and blogs. What is the rate that forms are filled in and the rate of the forms being abandoned. Do this well and your visitors will more than likely become paying customers.
5. Integration between your online and offline business. Not only in a physical sense in that the branding matches, but also for things like whether your social media sites are cross linked and from your website back to your social media channels. Do you attend trade shows etc and are they reflected back to your digital channels?
- The Metrics that you use to measure the site's effectiveness.The metrics that you have in place for the measurement of performance of the site, whether it is measured by revenue, turnover, return on investment, visitor numbers, conversions or sales, this aspect will ultimately be the guide as to whether the site is performing as you had it designed to do.
The Digital Audit will, in the end, show you whether you are riding stage coach or driving a Ferrari, and the good news is that whether it is a stage coach or the Ferrari, you will now have the knowledge and the understanding to turn either into a rocket ship!
If you would like to know how to apply a Digital Audit to your business, click here for more information.