If you look up the definition of the word functionality in a dictionary, you’ll find it fairly straightforward in terms of the method something uses to fulfil its purpose. Look up the definition on the Internet however, and this is another word that increasingly is now used predominantly for the purposes of describing the way computer software works, what it can do and, in some cases, how it does it. If you’re not in the IT business, it might not sound very interesting, but bear with me because functionality could not only save your business money, but it could also make you money if utilised in the right way.
So for the purposes of this article, when I refer to functionality, I’m talking about enhancements to your website which is a subject close to our hearts as you might imagine. It’s things like enabling a tourist attraction to sell tickets online; turning a website containing product photographs and a phone number into a secure online shop; allowing people to find the right holiday accommodation or hire a car and booking it online; creating the ability for geographically dispersed employees to share information and work collaboratively; enabling you to update your website without the need for a computer science degree; indeed, functionality takes many forms and there is usually a way to automate or streamline any aspect of a business to make it more efficient and, ultimately, more profitable.
The downside with adding functionality to your site however is that, to get it right – and believe me your business can’t afford to get it wrong – is usually not cheap, but neither is anything worth having (with the exception of family and friends and perhaps sunshine and views, etc. – Ed). Indeed, functionality could be one way of describing the difference between cost and price. There is always a price to any investment, whether it is hiring a new member of staff, buying a new company vehicle, or enhancing an ageing website, but in making the investment there should always be an increase in functionality that this level of acquisition provides your business, be it additional man hours, the ability to ship your product to your customer more quickly, or perhaps trading online more efficiently. The cost of not doing this could be that your business stays where it is while your competitors grow around you which, in the long run, isn’t good for business.
Ultimately, it’s all about the Return On Investment. None of the examples above are trivial purchases, but adding functionality to a website could generate the biggest return. One major advantage that it does have is that, usually, it’s a one off investment with no ongoing fees, which make its return levels particularly attractive when reviewing financial forecasts.
Functionality isn’t always expensive though. There are some things that don’t cost a lot that could make a surprising difference to your business bottom line. For example, this could be as simple as changing the way you process credit cards or perhaps keepng customers contact details in a different format so that you can communicate with them more effectively.
On a larger scale, your investment could allow you to relocate members of staff, perhaps taking them out of the stock room and into a more customer facing role thus presenting softer benefits in addition to the more tangible ones, or it could allow you to interact with your customers in a better way with no additional effort on you part, perhaps enabling them to create their own online accounts for example so that previous purchases can be saved, gift lists created, and allowing them to find out first what new products you have in stock. It’s things like this that could gain you market share, particularly if your competitors aren’t investing in functionality, and it’s online additions like this that will allow you to compete effectively against companies perhaps much larger than you are, regardless of their marketing budgets.
So, going back to the original question – is it worth it? My answer would be that the key difference in this type of investment is that you can usually calculate your likely Return On Investment before you take the plunge, particularly as, unlike putting your money in the bank or the stock market (pretty much the same thing these days), you’re effectively investing in yourself which is the safest bet of all.
With a partner like Slightly Different capable of providing any level of functionality enhancement to your website, you really do start to stack the odds in your favour.
Call us to discuss your functionality requirements on 01326 372416.
