First impressions do matter when your business handles online sales. When you sell from an eCommerce website, your landing page is the first thing a consumer will see. It is one of the essential components of your marketing strategy, and it needs to have eye-appeal.
Do you want to build an eCommerce website? Or are you thinking of updating an old site? You might be wondering how much it will cost.
You’ll need to take many factors into consideration when designing an eCommerce website. For example, you need to consider the size of your business and your anticipated revenue.
You also need to think about the cost and your marketing budget. Next, you’ll need to decide what platform to use. One of the most popular and functional platforms is Magento.
Why do Webpreneurs like Magento so Much?
Magento’s platform uses open-source technology. It means you can control the design and functionality of your website. You also can offer consumers a user-friendly shopping cart.
Moreover, owing to Magento’s popularity, its state-of-the-art security is second to none. Magento also has a nice feature for those who have more than one eCommerce business. You can manage all your transactions through a single administration panel.
Where to Start
Magento offers over 5,000 files, and it can be quite overwhelming for first-time users. Before beginning, it’s best to watch as many video tutorials as possible. There are many online, or you can take a Magento course, which takes 30 days or more to complete.
Unless you have the experience with coding, plan on taking time to get through the learning curve. In that way, you’ll avoid problems later.
If you have little or no technical knowledge, you’ll want to hire an eCommerce website developer. Look for someone who specializes in Magento.
You can hire a front-end, back-end, or full-stack developer. You can expect to pay between $60 – $150 per hour for a full-stack developer.
Whatever you decide, don’t skimp on the vetting process and be clear about your needs. Are you inexperienced with eCommerce websites? Or are you transferring from a simplistic platform such as Shopify? Then, your best bet is to go with a full-stack developer.
In an ideal eCommerce world, website costs would be transparent and consistent. The eCommerce world doesn’t rotate on a one-price-fits-all axis. Thus, you will have hidden and unexpected expenses. Prepare and allow yourself a financial buffer to avoid cost overruns.
It can be challenging to determine how many hours a developer will need to get you up and running. You also can’t tell up front if the developer will need to provide technical support. So, ask for an estimate or look for a developer who will work on a flat fee.
If Magento is your preferred platform, there are two main options from which to choose. These options are Magento Open Source and Magento Commerce.
Magento Open Source
Magento Open Source is for businesses with less than $1 million in annual sales. It is a free, barebones version that includes product videos and multi-tier pricing. It also includes promotional pricing and the ability to offer flexible coupons.
Do these options cover your business needs? If so, or if you don’t have the budget for Magneto Commerce, the free version will let you get your feet wet.
You need to know that there will be costs associated with the Open Source version. For example, you’ll need to pay for development, hosting, maintenance, and updates.
Magento does offer some free extensions, but the best and most useful ones come at a price — some as much as $13,000. You might need someone to install the extensions.
You should also budget for training. Why? So that you or your employees can manage the day-to-day website needs.
This platform is for those who generate more than $1 million in annual revenue. Annual costs range from $22,000 to $250,000 and as much as $300,000 for the premium support version.
The paid version provides you with SEO, content, and catalog management. It also takes care of product browsing, order management, layout, and themes. You also get analytics and reporting and support for global sites.
Magento doesn’t offer custom branding and logos. This factor is important to consider when budgeting for an eCommerce website.
If you want your branding on your site, you’ll need to hire a designer to create it. You’ll also need to ensure that it conforms to Magento’s requirements.
Hosting is an extra cost on which you won’t want to skimp. Self-managed hosting can cost as little as $10 or as much as $250 per month, depending on the size of your store, while managed hosting will cost $190 per month. The pricing for managed hosting on a dedicated server starts at $500 per month.
A barebones Magento website will take about one month to build. A complete eCommerce site will all the bells and whistles can take over a year. The size of your eCommerce store and your needs will determine your final cost.