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How Much Does it Cost for a Website?

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Why should I invest in my website development project?

Investing in your website is similar to investing in your home when selling.

The more time and money you put into enhancing and improving your home, the higher your return will be. The same goes for a website. If you invest in your website’s performance, functionality, and appearance, the more you’ll get out of it – conversions, brand trust, and growth!

Since every business is unique and requires specific online capabilities, every budget is also unique. When you are saving up for your dream site, there are some ways to save and some places where the cost is worth it.

So, how much does it cost for a website project?

First, let’s answer “why should I invest in my website development project?”

1. Your Website is the Foundation of Your Marketing

When deciding to redo or create your website, an important question is if your current marketing plan aligns with your business needs.

A website is an extension of your brand voice and messaging, so to make sure your marketing is consistent, you must have a website with a cohesive message. This is where investing in a coherent messaging strategy is vital for a successful website that will support your future marketing initiatives.

2. Your Business is Evaluated Based on Your Website

Enhancing your website should not be viewed as a “to-do” but rather an opportunity to advance your business and grow.

Think of your company as your family home; when you are selling your home, you stage it. People don’t see the nitty-gritty, unclean house with stains and pet hair, instead, they see a world of opportunities. You need to set your website up in the same way. Just like you wouldn’t let a potential buyer see the kids’ rooms before getting the chance to make sure they are clean, you can’t have people visiting your website without it being at its best.

Investing in your website development project has similar returns as investing in your home before selling it.

One of the biggest ways to bring your home more value is by putting up a new front door. We can compare a front door to your home page. It is the first thing people see when they are visiting you, and it holds the opportunity for the guest to decide if they want to come in or leave.

The home page is the most visited part of a site, what people will see first, and the place you get to share your voice with your customers without any red tape holding you back. A home page is not just your greeting to new visitors, it is a place to optimize for search engine optimization (SEO), connect with visitors, increase sales and profits, and much more.

How to Create a Website Project Budget

Focusing on the home remodel scenario, your website can be compared to your kitchen, a critical component of your overall house or business. It is commonly known that by investing $20,000 into a kitchen remodel, you can expect the value of your home to increase by about $60,000.

This concept can be applied to your website by revamping your site.

You can invest in improving the design, layout, copy, etc. to increase the overall value of your business. The rule of thumb is to prepare your budget for a complete site re-do every three to four years.

By investing in website enhancements, you build your chances for new customers, returning customers, and bring in the opportunity for referrals. Investing in your website is just like staging your home and upgrading it for being sold, or in this case, capturing more leads and generating more sales.

How much does it cost for a website?

Industry statistics show that having a website development budget equivalent to 10% of your annual revenue is a good place to start.

As mentioned, every business is unique and requires specific expectations and needs from its website. Whether that be offering an online shop (with precise shipping or order requirements), a customer portal, downloadable content, audience-specific user experience, and much more.

Your site’s complexity or customization will impact your web development cost.

The website is the backbone of all your marketing investments and it showcases your business 24/7. If your website does not match the marketing materials, your conversion rate will be significantly lower, which in turn is a wasted budget.

Businesses are Allocating More Dollars Towards Their Web Development Costs

COVID accelerated businesses’ dependence on the digital space. We have and continue to see more companies shift focus to operating online, regardless if your site is informational or ecommerce.

As you start preparing for next year’s marketing budgets, we are talking with clients about allocating business dollars to web development costs. Your website has the potential to be your #1 marketing tool because it can sell all day, every day. Budgeting for website development is a critical step to elevating your online presence and in return growing your business.

Does your business need a new or refreshed website?

Now more than ever it is important to focus on your business’s front door and kitchen.

Creating the best virtual experience is critical for long-term success. Investing in your website development pricing will add value to your company, your team, and your ideal audience.

Crossing the chasm from understanding your company’s marketing needs and creating a project budget for a new or refreshed website can be a difficult conversation. Yet the old saying, “You get what you pay for” is abundantly relevant to the digital world.

Start your website budgeting process by downloading our free Website Planning Template! Learn what your site needs to succeed and start calculating your website development price.