Last year, on my first trip to Vegas, I had a sudden realization:
there are gamblers and there are not gamblers.
My friend, Rachel (my companion on the trip), is a gambler. She has fun sitting at a blackjack table and deciding whether to hit or stay.
I am not a gambler.
In my mind, every dollar I lose is a dollar I could have spent on something (anything!) else: a new scarf, my utility bill, a Slurpee.
Maybe you’re a gambler. Maybe you love the rush of winning big at the craps table or raking in the chips at a high-stakes poker game. Perhaps you can brush off your losses as simply the cost of playing a fun game.
After all, if you can turn your $200 into $500, it’s worth it, right?
But what if you’re—like me—the more cautious type?
You probably hate the idea of doing something new (and expensive) when it might not pay off. You might be quite content collecting a modest, but predictable amount over a period of time as long as it meant you didn’t have to assume any risk.
Here’s the good news: you can have it both ways.
Is Your Online Strategy a Gamble or a Sure Bet?
Imagine that you found two different slot machines at the MGM Grand. One is a typical slot machine, spitting out random amounts of money at random times, but ultimately leaving you with nothing. The other is a little more work (you have to regularly assess the situation and develop strategies that focus on the most likely payoffs), but if you do it right, you are guaranteed to win big.
Which one would you play?
It’s a no brainer, right? If given a choice between a game that’s designed to take your money and a game that’s designed to give you money (even if it is more work), you’d pick the option with the highest return on investment (or ROI) every time.
What’s Your Website’s ROI?
Business owners face this same choice multiple times a day, but too many of them pick the wrong game.
They choose to spend hundreds of dollars on things that are not only useless, but end up costing them. Things like obsolete marketing strategies, ignoring their outdated website, maybe even actual slot machines.
So many business owners want to know how much their website redesign is going to cost, but they never think about how it’s going to pay off.
Yes, there is a cost to building or redesigning a website. There’s also a cost to renting a storefront or office, paying your employees, and buying inventory. But you don’t balk at those prices, because you know that they are necessary to attracting (and keeping) paying customers.
A website is no different. In fact, a fully optimized website with valuable content is better than an employee, because it works 24/7.
Is a Website Redesign Worth the “Risk?”
First of all, it’s important to stop looking at your website as just as another product that you need to buy (or a “risk” that could cost you).
Rather, look at it like a hardcore robot employee, one that works non-stop at attracting your target audience.
When you look at it this way, it’s easy to see that a good site pays for itself. After all, you’d have to pay about 10 times that every year to get an employee to do the same thing (and even then, it would only be for 40 hours a week).
But just to indulge you, we’ll do the math. Let’s say your semi-successful restaurant needs a website redesign. We recommend a responsive, easy-to-navigate site with a blog, revamped menu page (with all new photos), interactive event calendar, and a social media consultation. The cost? Around $2,500.
The Old You (the one that hadn’t yet read this article) might wince and send the action plan to the shredder, vowing to look for one of those “$599 Websites!” signs on the side of the road. But the New You knows to check the numbers first.
If the average table at your restaurant brings in $45 ($30 of which is pure profit), you’ll recoup your investment in less than 84 tables (or one busy weekend). And if the web company you hire knows what they’re doing (and your product or service is truly amazing), you’ll gain way more than 84 new customers.
Hello! You’ve just “won back” your initial investment and built a new customer base at the same time!
That cheap $599 website? Without optimized, quality content or a fresh “facelift,” it’s ignored, hidden, downright disgusting…and drives all those potential customers away. You just lost a new customer base. Does it still seem like a good deal?
Slot machines, blackjack tables, and other forms of gambling have shaky returns at best. But your business is a sure thing. Put money in and you’ll get money out. Before you know it, you’ve turned that $2,500 into $25,000.
So, put down the dice, buddy. Your business is a better bet.
Clarity Creative Group is a web-based solutions company located in beautiful Orlando, Florida. We’re currently saving for a real robot employee, because it sounds awesome. We’ll name it Roi.