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Right Budget for an Ecommerce Website

How to Choose the Right Budget for an eCommerce Website?

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In the modern world, most valuable resource is time. Businesses related to e-commerce where people want to manage more and spend less time. E-commerce is becoming more popular every year. As the future is behind it, It is considered to be one of the most profitable business idea. The scope of e-commerce businesses is turning out to be more efficient day-by-day according to the market demand. The requirement for an e-commerce website is generating innovations worldwide focus on delivery time, ease of transactions and several other features served by e-commerce businesses. However, choosing the right budget for the development of an e-commerce website is a real task as it covers lots of aspects that need to be taken into consideration.

Things to consider for development of a website

As every feature into a website comes with a cost, it will become really very important to understand the business needs and goals. One should always know what businesses your e-commerce website serves. There are three kinds of e-commerce website,

  • Small level e-commerce website
  • Mid-level e-commerce website
  • Enterprise-level e-commerce website

The above kind has been categorised by the numbers of features available in it. Choosing the type wisely as per the requirements will be very cost-effective.

How to calculate the cost

There are many different variables that affect the overall e-commerce website cost. These are also mandatory for the website.

1. E-commerce software cost – 

E-commerce solutions range in costs depending on the numbers of features available in the software. The two most common platforms are WooCommerece and Shopify.

WooCommerce is a free platform that can be integrated with WordPress. However, it is not easy to do it on your own. It does require expertise to build a high-quality WordPress website.

Shopify, on the other hand, is a platform where you need to pay for a Shopify account in order to build your online store. However, it has some drawbacks. You cannot customize the website as per your requirement. It has a monthly, half-yearly or yearly charge which you need to pay for accessing the account.

2. Domain name cost – 

Your domain name will come with an annual cost. It is a cost that you need to pay every year unless you’re able to pay for a few years upfront. In GoDaddy, purchasing a domain name typically costs between 200 rupees and 2000 rupees per year. The price usually depends on where you are purchasing it. Purchasing from a private seller or through an auction will usually be more expensive and time taking.

3. E-commerce hosting –

As I already shared a thought, if you are choosing Shopify where you are paying the cost as per your subscription you do not have to worry about the hosting as they have their own cloud base. However, if you are looking for a vendor or self-hosting it will definitely cost you some amount which totally depends upon the traffic on your online store.

4. SSL certificate – 

It is the least expensive set-up for the e-commerce website but has its high value. SSL certificate provides the security over a network that you need for the customer to visit the website and make payments.

5. Payment gateway – 

Payment gateway is related to the cost depends upon the type of payment you want to offer during check-out. Such as debit card, credit cards, wallets, pay later service applications etc. However, this will be the least of your concerns as you will get it easily with the most flexible options.

6. Marketing – 

Building a website will not gain you anything, it is just astarted to achieve the desired goal. It is very important for every businessman to marketize the brand to get the traffic onto the website. Obviously, this includes the cost, this is the most important aspect where every e-commerce business will go down. Choosing the digital marketing partner wisely as they are the ones who can help your brand to grow drastically.

7. Maintenance – 

It is really very important for the website to fix the bug as soon as it encounters putting the maintenance cost will help you with that. Also, to keep the website upgraded with new technologies and features. From the security point of view, the website will encounter some vulnerabilities which also need to address.

Conclusion

An E-commerce website has a huge potential as it covers audience from all around the world. You may encounter an unpleasant price tag before getting into it but you can earn a fortune with it. Make the calculations and then decide if your business worth the investments.

AeoLogic Technologies Pvt. Ltd. provides end to end solution for your e-commerce business. We not only be your technology partner but also will put our expertise and work as a team to enable businesses with leading technologies and solutions.