Just published: The IE Domain Registry’s (IEDR) guide on how a small business can calculate a realistic budget for a website.
In the introduction to the website cost guide the IEDR writes the following:
"We are often asked by micro-businesses and SMEs how much they should expect to pay for a website for their business. This is one of the most frequently asked but tricky to answer questions in the world of web design and digital marketing. Even now, there is no magic formula for calculating the cost of a new website. After 20 years working with Irish businesses we’ve compiled all the information you need when deciding on a budget for your website. Our advice is broken down into practical and manageable tasks, showing you what you need to consider when going through the process.
"We’ve heard from industry bodies like the SFA and ISME that website quotes for SMEs can vary from €5k to €20k. It is generally accepted that businesses should spend 5% of their turnover on marketing if they want to stand still, and 10% if they are trying to grow. Marketing statistics in the U.S. indicate that 62% of small businesses are investing 4% or more of their revenue in marketing. So how can a small business in Ireland decide on the right amount to spend? It will of course, depend on the size and nature of your business, as well as the sophistication of the website itself in terms of the technical elements needed. It also depends on how the website is positioned in terms of your overall marketing strategy.
"The IEDR Digital Health Index Q4 2017 states that half of all Irish SMEs acknowledge the benefits of an online presence. In fact, 66% now have a website compared to 62% in October 2016. The gap is certainly decreasing with only 19% stating that they are not present online. This means they have no digital assets, website or social media presence and therefore no way of engaging with Ireland’s e-commerce market, which is forecast to grow to €14 billion by 2021.
"Why is this so? Most say that there is simply ‘no need’ in their industry while others complain of a lack of expertise, finance or time. We’re here to help fill that gap, to provide relevant and up to date information for businesses that want to get online. The very first step is to decide on the purpose of your website. What are you trying to sell? Is it a product or service? This will determine the functionality, style and layout of your website. Then you are ready to move into the specification stage and hire an expert to help you build your website."
You can access the new IEDR website cost guide here.