This has always been a debate in some companies to whether to classify their website as a cost center or a profit center.

A cost center is a part of the business that costs money or expenses, as opposed to a profit center, which makes money or generate revenue.

Usually companies with unclear strategies will see their website mainly as a cost center and would consider it a waste of money if they need to invest more than the cheapest option available to them. On the other hand they know that they cannot do without a website, just like a business card or a corporate brochure they are material needed in their business.

While business card and corporate brochure are part of the sales kit, they do not view that their website is also a part of it. In fact, your website is more than just your sales kit, it is a online sales person which work for you 24 by 7 at all hours without rest, telling your potential customer all around the world what you are selling and how your service can benefit them. It is certainly less than a dollar an hour of pay and costing your nothing in electricity other than the minimal yearly hosting cost. It doesn't ask for a raise or take sick leave and travel all around the world to do sales for you without the travel expenses.

Your Website is a Cost Center

If you tend to look for the cheapest deal to have your website done and as basic as possible, then you might fall into this category. This is because you do not expect any sales or leads generated from your website at all. It is like I need to have it since everyone have it too. This is the same as paying a low pay staff to show that you have someone doing the work as compare to a better pay staff that can produce good results or generate sales in their work.

If you think that the later is a better option as good results or sales generated will always supercede the pay, you should think of your website as the same too. 

Some business owner will reason that their customer don't come from online as their industry is rather different. Little did they know that they do have customer that find them from online website. In fact more than 48% of companies don't know that some amount of leads were generated from website. This is mainly due to that business owner is taking their website very lightly and do not measure their ROI properly. 

Avoid Your Website From Being A Cost Center

1. Website ROI vs Investment. Let's be honest, a poor quality website can cost you by giving poor impression of your company. Get your website that deliver a good presentation and sales pitch to your customer. You are what you invest. Make reasonable investment in your website but that doesn't choosing the most expensive option. A good website does not always need to be expensive.
2. Website Conversion Rate. Your website need to be properly planned out that it is leading your potential customer to call you or buy from you. Consider it like a funnel that will lead them to your purchase page or contact page. Make sure you make it convenient for them to contact, enquire or buy. Put messages that prompt them to call or enquire from you. Customer don't like you keeping them guessing with unclear information. 
3. Collect Customer Information. Make an effort to collect customer information from forms in your website and act on it. Feedback received are usually not act on immediately leaving your potential customer guessing if there are anyone who attend to them. Response immediately if you can so that they know they are getting your attention.
4. Marketing. Your website will not be useful if you just leave it there. You need to make known your website whenever possible. Make it the center for information for all marketing and promotion campaign. In fact, it should be the only reference for information that relate to your company. 
5. Socialized Your Website. Make your content easily shareable to social media. It is a fact that social media do helps, that is why we have social marketing for businesses.
6. Accessibility. Make sure your website is always online and accessible through different devices or browsers. We are at the point where users would not except the term that your website can only work well with certain browsers or devices. Your Website needs to be mobile friendly and this cannot wait anymore. As at early 2016, Internet Access By Device in Malaysia shows that Mobile internet traffic is at 58% as compare to Desktop internet traffic which is only at 34%. This also means that Flash is no longer applicable in website as it won't work on mobile devices.  

In Conclusion

You should be clear of your business strategy and everything you are investing in. In times of economic downturn, it is always better to have an extra channel to generate sales or do promotion at a minimal cost, and your website is a channel that you can make you use of.

Start turning your website into a Profit Center today.