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Website pricing is crazy.
There are firms out there that will build a website for you for $300 and there are firms out there that will build a website for you for $3,000,000.
Generally speaking, you get what you pay for. Having said that, it pays to be a savvy consumer when purchasing websites. We've seen plenty of firms selling websites for $50,000 that should be sold for $5,000 -- based on the final product. At the same time, we've seen website costs of $4,000 for a website that we would have thought would have cost $40,000.
While it's a given that some website developers deliver more value than others, you probably knew that already. You came here wondering what websites cost.
How Much To Budget for a New Website
This rule-of-thumb for website pricing won't work for everyone, but it's a decent website pricing estimator for most companies.
Here's the rule:
Be willing to spend 1% of your next-year revenues on a new website.
If you want to make $5,000,000 in revenues next year, budget at least $50,000 for a new website. If your goal is to make $500,000, then budget $5,000. If you are on track to earn $50 million next year, be willing to spend $500,000 on a new website.
Admittedly, this website pricing method won't work perfectly for every organization. It's a non-starter for nonprofits, for example, and doesn't make sense for a venture funded startup company that hopes to be the next eBay or FaceBook.
Nonetheless, for many companies, this method for defining a website budget works just fine. It's based on the simple concept that revenues are correlated to organizational complexity. In turn, organizational complexity determines the complexity and needed sophistication of a website.
If you are working on website budgets and need help pricing out a website project, our Chicago web design consultants would be happy to work with you. We work with companies all over the world to help them make the most of their web assets. Give us a call today at (312) 267-0066.