Why should my business invest in our website?
Whether you are making a website for the first time or revamping an old site, there are some important decisions you have to keep in mind. Every website is different, and every website budget is also different. When you are saving up for your dream site, there are some ways to save, and some places where the spend is worth it. So, what does it take to build and launch a website? Let’s look at the breakdown.
Your website is the foundation of your marketing
When deciding to redo or create your website, an important decision 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 effectively supported you must have a website with a uniformed message. This is where investing a coherent messaging strategy is vital for a successful website that will support your future marketing initiatives.
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 how 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 it’s best.
Investing in your website has similar returns as investing in your home before selling it, so let’s look at what you will gain out of putting time and money into your company. 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 should I plan my 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.
People often ask about budgets, how much should we invest in our online presence? Industry statistics show that having a budget equivalent to 10% of your annual revenue is a good place to start. 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.
With COVID changing our World, we are seeing many companies shift focus to more online business, regardless if your site is informational or ecommerce. As team members start preparing for next year’s marketing budgets we are talking with clients about reallocating traditional marketing dollars shifting to online. Money previously used in marketing budgets for travel, tradeshows, and mailings are now being strategically used for online growth including your website and digital marketing.
Now more than ever it is important to focus on your business’ front door and kitchen. Creating the best virtual experience on your website is critical for long-term success. Investing in web presence, digital marketing, and having a solid marketing plan will add value to your company, your team, and your ideal audience.
Crossing the chasm from understanding your companies marketing needs and determining a budget for a website can be a difficult conversation. Yet the old saying, “You get what you pay for,” is abundantly relevant to the digital world now more than ever.
Interested in investing in your website? Evolve Systems can provide a detailed plan of what your business needs to consider when putting together your website or marketing plan. Get in touch to learn more!