Before the recent events caused by Covid-19, when the whole world essentially shut down, we all knew that eCommerce was the next primary type of business. What the pandemic has done is only quickened the pace of something inevitable. For the past few months, Rakuten intelligence’s data suggests that eCommerce businesses have seen a huge increase in their demand.
Backed by the need of the consumer market, these businesses have made the most of the times when people’s needs are dire. However, while it may sound like it is all caused by Covid19, the recent success of eCommerce was years in the making.
That is why today we are going to look at the core of an eCommerce business. The force that drives it forward and the one particular thing that makes it distinguishable, an eCommerce website. That is why many businesses these days are jumping on this trend looking to find sure footing in the online world.
They are finding ways day and night to establish a viable online presence. That is why; nothing is as effective as a website. Nevertheless, if your wish is to find out what it would cost you to have one made, then let us examine all the important factors that can help you come to a conclusive, final cost of your eCommerce website.
What Kind Of A Website Do You Want? The Objective
When eCommerce is mentioned, you might think of an online marketplace or an online store from a dedicated brand. However, eCommerce is more than just that. In simple words, it is a company selling their commodity to a buyer. Whether it is sold to the consumer, seller to seller, buyer to buyer, or business to business, all of these fall into the category of eCommerce. Though, considering how your business might be different, you may require a few different types, which are:
- Performance centric
- Design centric
Each of these types pertains to a specific type of business. If you are providing services through this platform, then you would prefer performance. Conversely, if your website is going to be product-centric, then you will need a blend between all three. Nevertheless, the bottom line is that you need to figure out the type of website you want beforehand. Therefore, whenever you hire a developer, it would be simple to decide the initial cost.
Magnitude of Your Business: Scale Of Your Website
Now, a variety of businesses require a variety of website solutions. If you are an online marketplace, then you may expect thousands and maybe millions in traffic each day. Depending on the scale of your business, your website needs to be up to standards so it can cater to your requirements.
Nonetheless, the more your website needs to be optimized and managed, the more it will cost you. Depending on the scale of your business, the design can cost anything from a thousand dollars to ten grand. However, it is when elements like functionality, fulfillment, and marketing step in are where things get complicated. That is why it is important that when you get started, you know what you are looking for.
But there are many website makers and designers that offer services on different magnitudes to cater to these requirements. Nevertheless, let us assume that you need a website for a few or a myriad of products. While quantity matters little in this matter, here are some of the key features that you will be needing:
- Basic layout
- Product categories
- Cart and checkout
- Payment methods
- Product tracking
- Personalized suggestions for each user
- Variety of languages
You will definitely need a variety of languages and currencies if you plan to go global. However, these are the basic features that are included in all the entry-level packages. As you move further up and find something more premium, then the prices will go up adequately.
Kind Of Performance You Need: Variety Of Platforms
In order to understand this element of a website’s cost decider, let us assume a scenario. You are against your competition and they have a better website than you, but your products and services certainly have an edge.
However, by the type one could select a product and checkout from your website, the other website has already moved towards the packaging phase. This is not just about your website being slow in performance, but also the module at which your business is operating. The smoothness of communication between your website and your logistics department.
Read more: Benefits of E-Commerce ?
To make a system that caters to your requirements accordingly, you need a proper management and maintenance module. What good will it do? While your competition is already focused on delivery, your user may not find adequate information about the progress of their order. You need to keep your audience in the loop. Therefore, you need a system that caters to these requirements of not just your user, but also your business. The main benefits of doing such a thing will be:
- Higher customer loyalty
- Better results
- Long term customer relations
- An edge over the competition
If you go this route and make sure your website is an all-round solution, then it is needless to say that additional costs like marketing, planning and strategizing the development would be added.
The Deadline You Have In Mind: The Sooner The Costlier
There is one common thing among all the eCommerce businesses is that they live by the rule “the sooner, the better.” While it has certain benefits, it also compromises quality and increases cost.
However, some professionals market their services based upon their ability to provide such solutions quickly, the crux of the matter is that if you want your website made as quickly as possible, then it will certainly cost you extra. Why is that? If you hire an agency, then this is how they decide the final cost:
- Work-hours spent
- Work-force employed
- Additional requests catered
- Unique features added
That is why there is a reason that most website builders and developers offer a basic service. Nevertheless, if you keep on adding demands to the basic package, then additional services are going to cost you extra. Nevertheless, if you put all of this in the perspective of the long term of things, then it is all worth it.
How come? Because eCommerce is one of the businesses that offer more than adequate return on investment. The better the experience of your buyer is, the more chances you will have of selling. Therefore, all of this is a worthy investment.
Is Design More Important Than Performance? Or Both?
Ask yourself this: do you want a website that compromises performance and looks great? Or do you want a website that performs great but looks below average? The answer should be neither. Because you cannot compromise on either.
While there is a certain audience that would prefer something that looks good on their phones or computer screens, the majority of the eCommerce target audience prefers something that gets the job done quickly. On the other hand, what is the definite answer to this then? Which one should you prefer? The simple answer is that you need a balance between the two.
Why is that? Because you need a solution that is easy on the eyes and quickly gets the job done. While compromising the looks will greatly improve performance, it would also risk your website being less appealing to your target audience. Therefore, your focus should always be on making a blend between the two. It would not only save costs but also help you regenerate your investment quickly.
Inclusions of APIS: Additional Costs
APIs are an application programming interface that interconnects features of two applications. While it is centered on mobile applications more than it is for a website, it provides certain benefits if you add it to a website.
What are they? First off, an example of an API is Google maps. While it is a sole commodity, it also serves as a key feature in many of the applications. Such is the case with many eCommerce mobile app & websites. Still, there is a variety of types when it comes to APIs, and adding them to your website would certainly add some flair to it.
Nevertheless, let us address the elephant in the room. While it would certainly add to the perks of your website, it also increases the final cost. However, as it was mentioned earlier, the better you make your website, the higher your ROI will be. Therefore, all of these costly sounding elements of an eCommerce website end up serving you in the long term.
How long does it take to develop an eCommerce website?
It all depends on the magnitude, features, and unique traits added to your website. Moreover, revisions and redesigns also play an important role. Yet, the average time of building an eCommerce website is between 3-6 months.
Can I save cost by reducing design and features?
Yes, you can. As the article presses the issue, the more you add features and design elements, the more it will cost. However, it can also benefit you in the long run.