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Investment Perspective vs Expense

 

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When running a business it is easy to get overwhelmed with expenses. We know them all to well. Overhead is another term for it. However, it is also easy to confuse your expense with an investment. This is precisely why a lot of businesses miss their opportunities to scale their company using technology! In this article i hope to shed some light to a pressing issue.  Is my web  project an expense or an investment?

 

 

Pricing structure for web development:

 

Although there are tons of resources that will allow you to build out a website yourself, If you are a company or person that has a big goal or a mission that requires quick expansion, you would want to find an agency that can take you there. The problem comes when the quote is sent and you get to see how big of a price tag it is to build out your dream using technology.  Most agencies charge around 150 an hour and most projects range from $3k to $100,000k. To most business owners, this is a stretch. You already have employee expenses, rent, materials etc.. that you have to pay out. So when an agency sends you a quote for $5k to build you a website, you are in shock.

Lets put that into perspective. If you go to an agency and you just need a basic website ( most agencies don’t create basic sites) with about 15 web pages, video capabilities, client interaction and a beautifully laid out strategy and user experience, then to you that is not much. Here is what that looks like for an agency. The average time spent building each page is about 3 hours per page. If you take that and multiply it by the number of pages that you need then your total hours should be 45 hours. If you take the average hourly rate of $150 and multiply it by the time, your project is right around $5265. Believe it or not, this is actually a low price.

You may find an inexperienced designer or a company that caters to cookie cutter design that can do it for right around $1k.  The problem here is typically that your website will act as a internet billboard and nothing more. Agencies try their hardest to may your website an investment and not an expense. They do this by creating a strategic user experience backed by call to actions and a beautiful design. The design will be custom in most cases and will allow complete flexibility. Agencies usually have the ability to help you scale internally as well but more importantly, it has been proven that most agencies drive results with what they create.

Over time however, there has been an increase in non experienced freelancers trying to charge ridiculous prices for websites with no strategies, no experiences and very watered down designs.

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Back to pricing though, $5k to spend on a website is still steep right? Wrong. Heck even $10k is a fair price. The fact that the average cost of a nice vacation is right around $5000  should tell you that to invest in your business by creating a web tool that drives traffic is a good idea. Think about it,$5k on a site or $5k on a vacation. If you are serious about growing your company, the last option is a good choice. Besides, if you invest that money back into your company and the tool drives traffic, then you can take better vacations! Not to mention a strategic web tool can fit perfectly into your current marketing efforts.

Strategic website/web tool= Investment – Do it yourself website/ bad site= Exspense

 

 

DIY Site, WordPress or Agency?

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We all know how important having an internet presence in this era is. We also know that a website is now one of the main source of credibility for your potential customers. Where you might struggle is when deciding whether to build one yourself, use a WordPress expert, or hire an Agency. Being the owner of an Agency that has WordPress experts handy I would like to say that this post is in no way biased. With that being said, I would like to outline the pros and cons when using each tool for your website!

 

DIY Website Builder

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Pros: It is usually very simple to build out a website with one of these. No code expertise is needed. It is also either free or very cheap. It will be responsive.

Cons: You usually end up paying monthly for services that you don’t use. The templates are not unique. You wont have much control of the strategy of your site. You typically will have to pay extra for tools that you need monthly.

Hiring A WordPress Expert

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Before I outline the pros and cons here, I want to explain what WordPress is. WordPress is an online, open source website creation tool written in PHP. Or in non geek terms, a really cool content management system.

Pros: 1. The WordPress expert will take most of the work off of your hands. 2. A good WordPress expert knows how to build a stunning website. 3. Again, you wont need to learn code. 4. It’s easily manageable on your own if you have time.

Cons: 1. Most individual WordPress experts charge just as much as an agency but do not offer agency benefits. 2. Most WordPress experts utilize already built themes with not much room for modifications. 3. Once completed, it is usually left up to you to maintain which can be hard to do if you lack time.

Hiring An Agency

Pros: 1. Agency can use multiple platforms and are typically expert coders which will allow complete freedom and control of your design. 2. Agencies use strategy to build your site to help drive conversions. 3. Hiring an Agency means that it is a hands off process for you. 4. You get a whole team of people that can help and not just one. 5. Agencies keep up with industry changes so that your company is not left behind. 6. Agencies can typically stick with you through all of your growing pains.

Cons: 1. Agencies can be expensive ranging from $1500 to $100,000 for a website. 2. The turnaround time can be long. 3. You may run into communication issue.

Now that you see the pros and cons of each, which one will you use? Give us a call @ 804-592-1734 or comment on the form below to see how we can help your company grow!

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