60 000 Mugging
Below is a MRR and PLR article in category Internet Business -> subcategory Internet Marketing.
The $60,000 Mugging: A Cautionary Tale for Website Investment
Introduction
Businesses often misallocate their internet budgets, spending too heavily on design while neglecting essential marketing efforts. This misstep leaves them with little to no resources for effectively promoting their online presence.
The Mistake: Overpaying for Branding
I recently met a potential client who had spent a staggering $60,000 on a website redesign. Unfortunately, this investment resulted in a mere brochure site that failed to generate leads or convert traffic into sales. With their budget exhausted on design, there was nothing left for marketing strategies. This is a classic mistake?"investing too much in aesthetics without considering functionality and ROI.
Purpose of a Corporate Website
A company’s website should serve as a tool to boost business outcomes. The internet offers measurable metrics to track goals such as increasing traffic, generating leads, and boosting sales. A $60,000 investment should ideally yield considerable returns. Can a simple brochure site deliver an 80-95% ROI? Likely not.
The Real Value of Web Design
Today, web design is a commodity, and it should only account for about 25% of your total website expenditure. Thanks to competitive pricing and open-source Content Management Systems (CMS) like Plone and Joomla, you can manage your content at zero software cost. These platforms offer Web 2.0-compliant back-ends at a low setup and maintenance expense.
Investing in Marketing
The true value lies in partnering with firms that excel in marketing your brand. Ideally, you should allocate 10-12 times more to marketing than design. For small businesses spending $4,000-$8,000 on initial website creation, it's crucial to budget an additional $30,000-$80,000 over a year for marketing. This investment is instrumental in driving traffic, which translates to increased business.
Unlike traditional advertising, online marketing allows for controlled spending and quick measurement of ROI. You can adjust your marketing spend in real time based on performance metrics.
A Success Story: DeFabis Photography
Consider DeFabis Photography, which transitioned to a Search Engine Friendly website we developed. Previously, their site didn’t rank in the top 100 on Google for key terms. Since partnering with us, not only have their visitors and page views increased, but they have also doubled their bookings from the previous year?"without spending $60,000 on their redesign.
Choosing the Right Vendor
If you're assessing potential vendors, ask them the following questions:
1. How do you capture and track visitor traffic on the site?
2. How do you ensure efficient use of pay-per-click advertising dollars?
3. How do you evaluate user-friendliness on the site?
4. What are your hosting requirements based on estimated page views?
5. What elements will need changes, and what can I modify myself?
6. Does altering the site's appearance require backend changes?
7. How can we add new pages for specific ad campaigns?
8. What is the anticipated cost per lead from the website?
9. Who owns the site's source code?
Conclusion
Before investing, clarify your objectives and align your spending with desired outcomes. A visually appealing site won’t generate substantial results on its own. Avoid being "mugged" for $60,000?"allocate funds wisely to enhance your online presence and boost your business.
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