How much does a business website cost and how do you justify its value?

By Shan Balasuriya Posted Date: 2016-03-18

Website Cost vs. Value

When it comes to the point of setting up a website for your business it can sometimes be a challenging task to decide on what your website should be like and how much money its worth spending on building one. One of the biggest concerns that business owners have is about the cost, some find it difficult to assign a worth to it while others think a website is an unnecessary expense. So as a business owner how do you go about realizing the worth of your website and justifying the cost of building one?

The first step would be to understand exactly why your business needs a website as well as look at what problems a website may help alleviate within your business. The website is not just a place for people to get information about your business online, but it can be the hidden solution to hurdles your business may have been facing.

For instance a reputed retail business that has been operating for several years has noticed a decline in sales over the last couple of years. The analysts have realized that one of the causes of the decline in sales is the emergence of online e-commerce stores and the movement of consumers towards online purchases. So this is something that can be resolved by entering the online retail market by launching a website that is tailored to match your business objectives. Another example is a business that sells a certain product, and due to a manufacturing defect with one of the batches a recall was required. The business will need to release a statement about the issue and will have to deal with the numerous customer complaints and negative reviews that follow. Some businesses would tackle this by releasing a generic apology while ignoring customer complaints and waiting till the hype dies down. But if instead a business decides to create a communication platform on their website where customers can express their views and the business can respond directly to a customer on a more personal level then the possibility of retaining the customer and maintaining trust is significantly increased.

The above examples are just two of many ways a website can help resolve issues and improve a business. As mentioned earlier it important to think about what value the website can bring and what issues it can resolve for your business, only then can you realize its true worth.

In addition to the above, another way to justify the costs of your website would be to value the conversions you gain through it. If you get a new customer referenced to you by a satisfied existing one, you would value that lead significantly over others. Similarly it is essential to give a value to leads generated and converted through your website, how important do you consider these customers to your business?

Taking the above points into consideration would you rather spend a little more and carefully plan a strategic website the helps your business or simply pay $99 and get a cheap one made simply for the purpose of having one?

Once you have decided and built a business website, it doesn’t stop there. It’s similar to having a recently opened store that no one knows about. The next phase would be to get people to visit your website. Stay tuned for our next few blog posts to find out how we price and quote for our websites as well as how to make your website known to the world.