Past Tense

Determining what you should spend is a business decision - like any other you make in your business. You set the objectives, define measurable targets, understand what it is worth by way of expected returns and then work out what you are willing to spend in order to achieve those targets.The marketing aspects are no different - know the market segments, align your products and services to those segments, define your value proposition and then define the initiatives that need to be put in place to deliver to the objectives.

Starting out is as easy as answering the following questions for yourself.

1. What would the average value of sale be worth to you for a well qualified lead?

2. What percentage of qualified leads can you assume will convert to actual sales or new business?

3. Given a target for new business sales, how many visitors to your website would you need to generate in order to convert to actual sales?

Of course the actual figures will deviate clearly between business types and product / service types. Also coming into play is how good your Internet site is in getting the attention of visitors and converting them to opportunities. And finally, how effective are your sales staff supporting Internet generated opportunities in creating new business.

Now check out the current traffic to your website - the source and number of visitors, returning visitors and the pages within your site they actually visit. How many of those visitors convert to new business revenue? This information is at your fingertips and is current of course? If this data is not available I would suggest that you found out how to get it right now as this data is critical to your business.

Now that you have this data at hand ask yourself the question - what would it take to increase visitors to a set level in order to generate an expected income of $Y? A well orchestrated Internet Marketing Plan with a website that is effective in capturing business opportunities will realise an untapped revenue source you have been overlooking for some time. With the numbers before you it is now a whole lot easier to determine your return on investment for your Internet Marketing campaign.

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