How Much Should I Pay For a Website?
When you are thinking of investing in your online business, you should consider all options and compare them. For example, consider how much it costs to advertise in your local newspaper, on radio, on TV or in the yellow pages. Then consider what kind of results you can expect from each advertising medium. The results you obtain will vary depending on your niche market, type of business, advertising budget and the quality of your advertising.
There is nothing wrong with using several types of advertising, should your budget allow it. However, your main goal should always be to get a very good ROI, (return on investment). For many types of businesses it is a must to have several advertising methods setup, for example; a restaurant would require a yellow pages ad, listings in local online directories, possibly radio ads and TV targeting local and direct mail with coupons.
So Why is a Website so Important?
A website is extremely important as a target for all of these other methods of advertising, because it acts as a base landing page for all other methods. For example, you can promote a coupon via direct mail, radio, TV and the yellow pages and direct everyone to a form on your page or order page where they take advantage of this offer without having to contact you directly. This frees you up for other things.
Your website acts like a robot working for you 24/7 for little or no pay, and who would not want that? If you do not have a website that is working for you, in some way, then you are losing out on a huge advantage. Another example would be a translator, without a website the translator would be forced to take out expensive ads on TV or Radio and use other methods of expensive advertising to gain access to just his local market. However, with a website it is possible to target the entire world and also use other methods of advertising.
Therefore, in my opinion any money spent on your website and marketing your website, has far more value than other mediums, when you take into account how much you will use it. Even if you utilize other forms of advertising, without a website none of them will be as effective.
So if you are planning on putting some money into your business, the best place to put most of it, is into your website and or its online marketing efforts. Especially for a new website, which will need far more than an aged site that is already established. Sure you can get a website for $200 from an amature freelancer, but would you open a jewelry store in a tent? You need to put things into perspective, this is your business, it's not a yellow page ad, your website will generate leads and or income while you sleep if built correctly and promoted carefully.
So I recommend not sticking to a price and comparing with others that charge less, instead figure out how much you need to make from your website per year and then invest 10% of that figure into the initial design, development and promotion of the site, then allow 5% each year to promote it. So if you want to make $100,000 per year, I recommend investing $10,000 into a solid website and $5,000 per year to promote it. Of course I'm not saying you will make $100,000 per year from it, but at least you will have given youself a solid chance of success.
You should however be sure that whoever builds your website and provides online marketing for it, has a solid track record and knows how to build websites that convert well.
We have over 16 years of online marketing experience, if you are ready to invest in your online business please contact us for a free consultation.