Have you ever wondered how much revenue you’re missing out on by not ranking on page one of Google? During a recent Marketo webinar, Paul Taylor, Founder and CEO of Webmarketing123, shared his insights on how to calculate the potential revenue missed by not ranking on page one of Google for your company’s important search phrases.
Paul was kind enough to share his ideas with the webinar attendees, so we would like to pass along his findings to the readers of our blog. To calculate the annual cost of not ranking on page one of Google, follow his process, outlined below:
- Choose a list of 10 keywords that searchers are using to find your business. Find the approximate monthly search volume for each keyword using the Google Keyword Tool. A combination of high volume and high converting keywords is best. Add these together to find the total number of searches your website could rank for each month.
- Using a 7% average click through rate for page one search results, you can calculate the approximate number of new website visitors.
- Multiply this number by your typical visitor-to-lead conversion rate to find the number of new leads that could come in from Google each month.
- Next, determine how many of these leads will be sales qualified. You’ll have to use your own company specific historical data here.
- Find out how many of these leads will convert to sales by multiplying your number of sales qualified leads by your typical conversion rate.
- Multiplying your number of new sales by your average deal size will give you the monthly cost of not ranking on page one of Google. Multiply this number by 12 to find your annual cost of not ranking.
If you don’t have specific rates and metrics for your company, try using industry averages as a starting point. An estimation of your monthly cost of not ranking on Google can provide a great insight to drive future marketing strategy decisions.
This process also highlights the importance of keeping detailed analytics at every process of the sales funnel. Knowing these numbers can help your business make sound decisions in the future that may impact the success of the company.
Go ahead and run these calculations for your company. You may be surprised by what you find. If you’re not the business owner or a decision maker, show your findings to your boss. He or she may be quite impressed!
Check back to our site for a case study about the potential revenue from Google rankings, coming soon. To learn how an outsource marketing agency can help your company, contact Clarity Quest Marketing today at 877-887-7611, or fill out our online form to request a quote.
Author: +Chris Slocumb