Getting a website is a great choice for businesses that want to have a presence on the web. It’s easy to use, and with the right tools, it can be quite profitable. However, building a website takes time, and once you’re done, you’ll have to maintain it and update it with new content. Many businesses consider the cost of building a website to not be worth it, as they think they can get the same service or product for free from platforms like WordPress or Shopify.
But that couldn’t be further from the truth. Building a website takes time, and if you want a professional-looking product, you’re going to have to spend money. On the subject of money, how much is a website worth? That is the question.
The Cost Of A Website
One of the first things you need to consider when you’re thinking about how much a website is worth is the cost of building it. You’ll have to decide whether you want to build it yourself or hire contractors to do it. If you go the DIY route, it will not cost you anything but time and effort, which is something any business can spend. On the other hand, hiring contractors is usually more expensive and can vary from £500 to £1000 or more. But regardless of whether you build it yourself or hire contractors, the cost of a website is not something to skimp out on.
The Profits Of A Website
Once you’ve created a website, the next thing you need to do is to start making money from it. There are many ways to do this, but the two most prominent ones are through affiliate marketing and display advertising.
The first one, affiliate marketing, is when you promote a product or service for another company, which in return, earns you a commission when a purchase is made from that company. For example, you’re a fashion web-blogger and you write an article about a fabulous new dress, which happens to be featured on a luxury website. You get paid when a reader clicks on a product or buys it from the advertiser’s website, so in this case the dress website. When a purchase is made from that website, you’ll earn a small commission.
This can be a viable option for those that want to create a side-hustle or want to explore the possibility of creating a full business around affiliate marketing.
The second way to make money from a website is through display advertising. This is when you display ads on your site either through an ad network like Google Adsense or through a toolkit like WordPress’ ad-block-free plugin.
Unlike affiliate marketing, which requires a product to be sold in order to make money, display advertising requires no initial investment. You’ll simply have to choose an ad network or plugin that will enable you to display ads on your site, and you’ll have to choose a merchant account that will enable you to process transactions.
So, you’ve built a website and you want to know how much it’s worth. Is it worth the time and effort? What are your options? The answer is going to come down to how much you want to make, how much time you’re willing to spend on it, and which route you want to take to achieve your goals.