The question of how much to invest in a website isn’t a new question for us…and because of this we’re well versed in listing the benefits of investing in digital. We want to focus on a few points in this article:
- That a well-designed website is a good return on investment
- That Kooba is bespoke so the investment is in the custom treatment of business goals.
As an agency, it’s not our style to talk about price upfront. We first look at the right solution for your business needs and then curate our digital solution based on this. This type of problem solving process is a critical part of the way we communicate with both new and existing clients. Now, we’re well aware price and budget play a significant role here and this is why we feel metrics and business goals really need to drive a project. It’s vital that your organisational objectives play a role in determining cost and ultimately justify working with us.
Let’s now take a step back and break down how we might determine how much you should invest in your digital presence.
The first thing we want to look at is the purpose of your website. For a majority of our clients their web presence hinges on generating sales. If this is the case, we think it’s important to look at what the value of one sale means, which depends on the industry and business type. For this example, let’s say the value of one sale is 2,000 euro. Next, we want to understand how many sales a good website within a specific industry/business type should be generating. Let’s say a good conversion rate in your industry ranges from 2% to 5%. We then want to note how many visitors land on the site; let’s say this is 1,000 visitors a month.
Now that they’ve gathered all our data, it’s time for some quick maths. Based on the amount of site visitors per month and the industry conversion rate, a well-developed website in the industry could generate 20 to 50 sales a month (1,000 x 0.02 = 20; 1000 x 0.05 = 50). A well developed website would generate anywhere from 40k to 100k a month in this case (2000 x 20 = 40,000; 2000 x 50 = 100,000). So, if you spend 100,000 on a good website, it would take 1 to 3 months to pay off the website design and development investment and begin seeing a return on this investment. This is just an example, but pay-off could look pretty similar for you
After all of that, we want our clients to understand the value of what they are paying for. The rate doesn’t just include the website design and development — it includes the extensive research behind the look, feel, usability and functionality. There is a thought-process, expertise, and bespoke component that directly tailors the website design to the client's unique business goals. So don’t put that pen and paper away just yet. Our team would love to chat about the right digital solution for your business. Get in touch via our project planner to begin exploring the benefits of investment in digital.