Will your new website design pay off?
To a lot of CEOs, a website is a bit like owning an older car: It’s given you a pretty good run for your money and it does what you need it to do. Sure, the mileage isn’t great—but is upgrading really a top priority?
As you are looking at your marketing strategy for the coming quarters and trying to decide whether it’s time to get a new site, or whether you can get another year or two out of your existing design, here is a website design formula to help you make your decision:
For many businesses, it’s strongly recommend to consider having a website built on an open source Content Management System (CMS)—for example Wordpress, Drupal, Joomla!, Dot Net Nuke, etc. These sites work well, are easy to scale and typically cost a lot less.
An average cost of this type of design is around $5,000-$15,000. You can use $10,000 as an “anticipated cost” of a website design project.
A word of caution: many companies “know a guy” that does website design out of his basement, or, have a cousin in college taking web design classes who is willing to design your website for a steal. Many of these projects go south quickly, so follow the golden rule—you get what you pay for.
Formula # 1 - Got Content Management?
Is it easy to login and make changes and add pages to your website? If the answer is no, try to analyze the last years’ web changes. Most companies that want to actively gain Search Engine ranking should be making updates to their websites at least two to four times per month. Assuming three website changes happen in one month, taking one hour per change, and the typical website developer hourly cost is around $125:
- 3 hours per month = $375
- 1 year of web edits= $4,500
- 3 years of web edits = $13,500
Looking at the numbers, it’s possible that not having your website on a Content Management System can cost you up to $13,500 over a three-year period.
Formula # 2 - A Conversion Rate Your Mother Would Be Proud Of
This really comes down to a fundamental question—what actions do you want people to take on your website?
Your conversion rate is a simple calculation based on how many “hits” you are getting, and how many of those “hits” take action on your website. Simply put, a conversion is when someone takes the next step on your site—whether that’s filling in a form, signing up for your email program, buying something, etc. Industry standard conversion rate for companies generating leads is usually right around 1 percent—for ecommerce websites, this is closer to 2 percent to 3 percent.