What is a website really worth?
The boring answer is, it depends. Of course that’s not the answer you want to hear but there is some truth to it.
Let me explain. As a small to medium sized company you’re probably focusing your advertisement and lead generation mainly on social media apps like Facebook, Instagram, LinkedIn, and Yelp.
The allure of it being free with a lot of eyes on the platform is an easy reason why you’re on there, and it makes sense. So, you might be wondering, why even purchase or promote my website when I can get leads from social media?
This logic is a slippery slope and can be detrimental to your business in the long run. Relying on another company to generate all of your leads inevitably sets you up for failure. Consider this -- if you invested in the stock market, would you only invest in one company or a set of similar companies? No. Diversifying your allocation across various companies and industries reduces your risk.
Do you recall the Facebook and Instagram outage in March? Businesses whose primary source of leads, and possibly income, come from Facebook and Instagram were temporarily interrupted. In other words, they weren’t generating any leads or revenue during this outage. A strategy that relies heavily on social media is prone to such risks. The last thing you want anyone or a company to do is mess with your money.
In the long run, reliance on social media is not sustainable. Competition is rampant and creativity can be limited. Having a website allows you to creatively brand yourself, answer basic customer questions, control your narrative, collect useful user data that enables you to develop deeper connections, and build email nurturing lists.
I’m not saying you shouldn’t use social media. You should, but also consider a comprehensive digital strategy that leverages multiple channels, including one in which you have full creative control - your website.
Wrapping up - don’t sleep on your website. Prepare for the long haul by investing in a website. So, what is a website really worth? It depends, but if it can generate one more lead, referral, or sale, I’d say it’s definitely worth it.