Like any business investment or venture, there is an ROI associated with it. And a website is no different. It also has an ROI that is based on the amount of money spent to develop the site and the results. Below is a look at both the cost and its impact on the ROI.
Costs Associated With Developing a Website
The cost of developing a website varies depending on whether or not a company has a low-end or a high-end website. Costs can range anywhere from $1000 that’s created by a freelance web developer or it could cost thousands of dollars for a sophisticated website designed by a large web development company.
There’s usually very little cost for material as web development is primarily associated with the time that goes into building the site. So it’s the cost of the knowledge of the developer and the time that’s put in that’s used to determine the total cost. This amount will be provided to business owners by freelancers or web development companies.
Major Cost Factors
Some of the major cost that goes into developing a website varies based on the size and functionality of the site. The costs include:
- Programming and coding
- Content Development
- Project Management
- CMS Platform
Results that Yield an ROI
The results from the website development also vary. In addition to that, it may take a very long time for business owners to realize a profit from their website. It will typically start off as a negative ROI but should increase over time. The ideal is to build a site that produces results from the beginning. Otherwise, the cost of the site will be a loss.
The revenue generated from websites varies tremendously. It’s more apparent with e-commerce sites. Otherwise, income will be associated with leads that should ultimately convert into sales. The longer the lifespan of profitable websites, the greater the ROI will be.
The amount of time and cost put into developing the website should be consistent with the results that the site yields. That’s why, for the best results, the site should be built with the end results in mind. That way, you can better project what you want the site to do to ensure it’s built to deliver the desired results accordingly.