To know the answer you need to know two things:
- What actions are being completed by visitors to your website?
- What is the value of each of those actions?
What actions are you tracking? This will depend on the intentionality of your website.
If your website is eCommerce enabled (you are selling products online), it is pretty easy. Every time a visitor on your website purchases a product, you should be tracking the amount of the sale minus shipping and tax. Then, you are able to measure the revenue against your costs and determine if your website is profitable. Pretty simple, right? Wait, there is more. . .
What else are you tracking? Are you collecting email addresses? Are you recording the sales history and frequency of each buyer?
If your website is generating leads for your sales team, it is pretty simple as well. Every time a visitor completes a form, providing you with a name, email address, street address, and phone number, there is value. Then, you are able to measure the value against your costs and determine if your website if profitable. Pretty simple, right? Wait, there is more . . .
What else are you tracking? Do you have white papers for download? Do you have multiple methods for collecting information from visitors?
Everything, let me repeat that, EVERYTHING you would like a visitor to do on your website has value to you as the owner of the website and that value adds profit to the bottom line.