April 12th, 2018
Many feel like their website budget should be focused and based on how much they think they can afford. While this may work for other aspects of your business, a bit more should go into budget valuation for brand websites. What you think your website will be worth when all is said and done puts a limit on what brands are willing to spend on crafting one, but valuing revenue brought in from a great website is something that is difficult to gauge.
Most Websites Are Greatly Undervalued
In the early 2000’s, it wasn’t rare to pay $10,000 for the building of a basic custom website. During that time, the necessary skills were rare compared to today, and for this reason, they were highly valued. In the last 10 years, however, this has changed.
The introduction of DIY templates and inexpensive inexperienced designers has dramatically changed perceptions on what is appropriate to spend on a well-built custom brand website. Many feel like paying for a website isn’t necessary when one can build one for free, and a common misconception is that they’re all stemmed from the same templates anyway.
However, the truth is much different from this perception. When a brand hires an experienced and skilled development team, they’re not paying for content to be plugged into a template. What they’re paying for is the intentional set up of elements on both the front and back ends in order to better align the website with the brand’s overall goals.
How To Base A Website Budget On Your Needs
Rather than basing a budget on a number, it’s more important to base the building of a website around your needs. When basing the build on a budgetary number, a brand is limiting themselves and thereby limiting the overall value of a website, providing them with a product that may not suit them in the way they’d like. Identify needs with precision, and allow these to be your main budgetary focus.
A few tips to help to build a website budget include:
Prioritize your purpose
Before gathering quotes or tossing around numbers, first find out exactly what you want your website to accomplish or achieve. For a franchise brand, for instance, there may be a priority placed on driving local markets to their desired local franchises and customizing content for these franchises for a local flair. When priorities are laid out, a more accurate quote can be given.
Re-examine how you value products
Two big factors decide the budget for your website – how you value the finished product, and how you value the work it takes to create it. If all you need is a place for audiences to find your information, you won’t need to give it too much of a budget. If you want your website to generate leads and eventually pay for its own investment, it will take a bigger budget to do so.
Consider your website an asset
In today’s modern day and age, a brand’s website is a big asset. This is why government agencies and big corporations are willing to spend millions of dollars on ensuring their website is built to their standard. While a million dollar budget isn’t necessary for your website, thinking of it as an asset is.
Franchise CMS For Any Budget
Our CMS for franchises and multi-location businesses takes care of creating your website as an asset for all budgets. If you’re looking to create a website that generates leads and provides a return on your investment, contact SeedLogix today to see what our budget-friendly and comprehensive CMS can do for you.