At one point in owning a website, we need to know its worth. Knowing your website’s worth will put you in a place where you know how much you may sell it if you decide to sell it. By a website, we refer to any online business platform you own out there. You may also need to know your website’s worth so that you invest in making it more profitable. Knowing the price of your website will motivate you to work even harder to reach a certain threshold.
In this article, let’s look at what will help you put a price on your website and improve its profits to attract a good deal when you need to sell it.
So, how do you find the net worth of your website?
You may use the Multiplier calculation.
In the multiplier calculation, you use your monthly revenue. This value will be 24 to 36 times your monthly revenue. So, by multiplying your monthly revenue 24 to 36 times, you will get an appropriate estimation of your website’s worth. This method gets referred to as the earnings multiplier. Let’s take, for instance, that you earn $5000. Your website will be worth between $120,000 and $180,000. This formula will help you estimate your website before you sell it or give you a target to reach before selling your account how you wish to.
Do your online research or among people dealing in the same business.
Another way you will get to know how your website would cost is to conduct your research. You may search online how much you would need to purchase a similar account. You will meet website sellers and buyers online who will propose different prices for a website like yours with similar stats. This way, you will estimate how to sell your account or website for that case. This method will give you a real-time price on the market, and you may get a worthwhile price.
Conducting interested buyers one on one
Another way you may sell your website at a significant profit will be to find ready buyers. You may use criteria one and two above to have your selling price already determined. With a ready buyer, you may even target a higher price, and with conviction, you stand a chance to make a good deal in the online market. This technique will give you enough knowledge for any future website sales.
Use of digital evaluation tools
You may as well decide to use various tools to evaluate your website and find your figure. Some tools you may find online to help you determine the price worth of your business include:
- GoDaddy- this tool will ordinarily help you find a domain name for your website or run the website. When you need to know your website’s worth, however, this tool will prove very helpful. The GoValue feature in this tool will help you in getting your website’s worth. Consider installing it and use the GoValue feature to find your site’s worth.
- Empire Flippers- you may as well use this tool, follow through with their simple steps, and get a rough estimate of your website’s worth. This site conducts website sales for most people. If you wish to find the estimated worth of your website, you may use their formula. They use the multiplier calculation as well. Your worth will be your net monthly profit X Multiple (18X-46X) + Discounted Assets if any + Wholesale Inventory if any. If you use this formula, you will get your estimated website’s worth.
- Flippa– this platform deals with buying and selling an online business. Their 6-step valuation process will give you an estimate of your website’s worth.
All the above methods will help you come up with a figure about the worth of your website. Selling a website requires this knowledge to avoid selling your website at a loss.
Five best methods to boost the worth of your website
After learning how your website may sell, you may wish to own it a little longer and increase its market value if you need to make that call. What are the factors you need to consider to make the site increase in value?
Work on boosting your net website profits
Website’s net profits get used in calculating your worth by all tools and sites willing to sell your website for you. You will need to increase your profits for a better deal. Good research will help you understand what you need to do to increase these profits. If you offer affiliate marketing, then invest more in your most successful affiliate links. You may also include your call to action earlier to boost more sales. Whatever business you do, focus on increasing your net profits, and you will hack it.
Increase your visitor flow
The more you get visitors to your site, the higher your revenue creation rate. So, it would help if you increase your visitor flow. Consider using SEO tools and search for topics that your audience searches for most. Search engine optimization (SEO) tools for different SEO practices such as local SEO, and others, have saved many sites by creating relevant content which increases visitors flow. You may also create content relating to your top-performing pages.
Work more on your Domain Authority.
It would be best if you created a domain that relates to your content excellently. This trick also helps your site rank more in search engines and eventually boosts your visitors’ flow, boosting your net profits. As always, remember to separate your domain registrar and hosting.
Social media platforms have proven essential in boosting a site’s visitors flow. You will need to market your site effectively on all social media platforms. You may then come up with a way to motivate sales from these platforms by even offering a discount coupon for those who purchase from the social media links. This way, you even get more referrals and sell more, increasing your net profits.
Invest in Email Subscriptions
All successful websites give a lot of weight and concern to their email subscribers. Do you have a list of your email subscribers? If not, consider doing it. Through your email conversations, you get to make better price offers and maybe make better profits. You also get a chance to connect with your customers and improve your trust, which ends up in an increase in sales.
Would you be happy to buy your site?
If you feel that your website gives you a good selling deal, then you may go ahead and sell it now that you have successfully determined your website’s worth. If not satisfied, consider investing in the above tips and better your website’s worth because you will find it possible.
Have you found your website’s worth? Using all the methods we have discussed above, you will decide if you need to sell your website. You may also implement the tips on bettering your website’s worth, and you will be happier. Let us know about your experience in the comment section.