How much should you spend on a new business website?

When considering marketing options for new business, owners often ask about websites.
Questions like Do I really need a website? or How much will I have to spend? are frequently on their minds. There is a good reason for this – a website is a major investment of time and resources. 
So if this is something that you've been thinking about, keep reading!  We've compiled the following considerations, recommendations, and cost estimates to help you.

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Question 1  -- Do you need a website? 
Yes.  A website is a recommended investment in the success of your business. 
A well-developed website:

• Helps legitimize your business -- most prospective customers will check websites and reviews before contacting a business. 
• Can function as your online brochure, showcasing the products or services your offer and why they would want to do business with you. 
• Can function as the “hub” of your marketing efforts, helping bring in leads, educating and engaging current and prospective customers.
• Can help clarify your vision for the business. The process of developing the website, especially the home and about pages, will help the business owner clarify their values, target audiences and differentiators.

 
Note: There are a very few small businesses that can survive totally on word of mouth or by having a great location. But for the vast majority of businesses, prospective customers will use the website as a verification that you are a real business.
 
Question 2 – how much should you expect to spend?
The answer depends on your business situation - the type of business, the profile of preferred customers and the marketing strategy to attract them. 

1. Do people typically conduct online searches for your type business? Will you depend on search results to bring in new business?  If so, then expect to spend more for a website and search engine optimization (SEO).
2. What customization do you need?  If your business needs special features, like a secure customer portal, then that will add to the cost. Do you expect to sell products?  Then it will be important to invest in ecommerce features that optimize the buyer experience. 
3. Do you have a vision for exactly how you want it to look, function, and communicate your brand?  To achieve this, a custom website may be the way to go. On the other hand, if you’re a new business or feel a unique design isn’t a high priority, a template-based site might be the answer as it will guide you to fill in certain spaces and pages.  
4. What resources do you have? If you know a good website developer or marketing agency, use them.  If not, ask around business networks and check their references. But there are other options. If you are starting out with a very limited budget or just testing the market, you can experiment with template-based sites like Wix, Weebly and Squarespace. These sites are user friendly and when well thought out, can look very professional.  One drawback is their SEO capability, but they are trying to improve that. In fact, Wix is currently hosting a contest for marketing agencies to try to convince them or their to their improved SEO capability.
5. What is your total marketing budget? A small business working with a web developer or design firm can expect to pay between $2K to $9K for a website (depending on number of pages and complexity) and $5K + for e-commerce capabilities. Be aware, you should not spend all your total budget on your website as you’ll need a combination of marketing tactics to attract visitors and convert them into customers.  For example, If SEO is important to your business, you may want to jumpstart your optimization efforts with Google/Bing Ads. But winning the SEO battle takes a continued and diversified effort so you’ll not want to put all your eggs in the SEO basket, so to speak.

Effectively launching or reinvigorating a business goes beyond creating a website and includes developing a  marketing strategy with more than one way to attract customers. So how much you should spend depends on several factors -- look for options that fit your business goals and budget.
 
Thanks for reading!  For questions on websites or marketing strategies to grow your business, contact us.