The going rate in 2022 to build a modern, professional small business website is in the price range of $3,000-$6,000 but could be as much as $20,000 (or more) depending on
- the number of pages on the site
- level of customization required
However, the exact price you pay for your business website is actually not actually all that relevant.
What do I mean buy that? Well web design is so varied and difficult to compare between one offer and another unlike other business expenses which are commodities and therefore much easier to compare. Think stationary, phone plans, petrol, or building materials.
Another way to look at it is from a value perspective. If your website is able to generate consistent leads for your business that result in new customers that you wouldn’t otherwise have, then you will find that the cost to create a website is excellent value for money and proves to be a great investment.
In fact, the price you pay for the website is not as relevant as the number of quality leads it can generate for your business and thereby the value it provides to your business.
There is a key distinction between price and value. Warren Buffet one of the world’s richest investor sums it up well. ” Price is what you pay. Value is what you get” ~ Warren Buffet
Here are some things to consider:
- How many sales, enquires, phone calls or leads is your website able to generate per month?
- What percentage of those leads is your business able to convert to paying customers?
- On average, how much profit do you make from a customer?
- Does your business deal with repeat customers? If so, what is the lifetime value of a customer for your business?
Let’s say you pay $6000 to have your website built, you decide SEO is a wise decision for your business, so you invest in 12 months of SEO at $1500 a month. Your total cost for your website and SEO for 12 months is $24000. or $2000 a month.
Averaged out over the course of the year, your business website is able to generate an extra 12 leads per month, or about 3 leads a week. From those 12 leads you’re able to convert 25% or 3 leads a month into paying customers.
If your average profit margin from a customer is $2000, then every month you’ll be able to create an extra $6000 profit for your business. At this rate within 4 months you’ll have covered the initial cost of the website build and 12 months of SEO.
Which means at the end of the first year you’ll receive an extra 8 months of increased revenue or an extra $48,000 of profit.
From this example it’s easy to see that investing in a website with ongoing SEO represents excellent value for money.
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