Friday, April 12, 2013

Focusing on Business Utility

Most web gurus (SEO, CRO, PPC, etc.) care a lot about the data.  They work tirelessly to increase visitors, click through rates, time on page, and form submissions.  The best ones focus on the customer's bottom line. They use the data to increase revenue and profit while lowering advertising and marketing costs.  I focus on delivering business utility.

I can't argue that it is extremely important to deliver bottom line results, but not everything is measured in money.  Brand image, thought leadership, and customer service are all things that cost money and don't necessarily help your bottom line, but that doesn't mean they aren't good for business and the company.  In economics, satisfaction is measured in utility, so I call the measurement of these activities business utility.

When putting together a web strategy or evaluating where you allocate your resources on the web, it's important to look at how much revenue your social accounts generate, but it's also important to know how much business utility they provide.  It's hard to put a price on a friend.