Entering 2018, the value of a high quality website to M&A and private equity firms is indisputable. But what should firms expect to pay to design, launch and maintain a modern website?
More is not always better
The answer to questions about cost can vary, but we’ve noticed a trend of M&A and private equity firms significantly overpaying for websites. Our most recent encounter was a firm who came to us after paying nearly 30k for a non functional, unsupported site.
A good website isn’t cheap per se, but with most M&A and private equity firm websites being semi-static, fairly simple sites, they also should not be terribly expensive. Most smaller boutique M&A firms should plan on paying between 5-7k for a simple site build. Even large site builds in M&A often do not top 20k. In this cost range a quality web development team should help you with the following:
• Site strategy
• Brand consistency
• Site design
• Content creation
• Training, support and maintenance
If your firm is paying more but getting less, you may have chosen the wrong development team. If you are paying less, expect to have to develop your strategy and content separate from the services provided by your web designer.
While handling some of these tasks in-house can help reduce the cost of a website redesign, it is usually worth spending the money for a more comprehensive website strategy. Good design is an important part to a well-executed website, however it is not the only part. Understanding what you want your site to accomplish and how, trickles down from design to content to on-going site maintenance.
Additionally, being prepared to spend on key differentiating elements like original photography can be the difference between a run of the mill and stand out website.
If someone is promising great results for a fraction of the time or cost, be wary.
Remember:
Do
• Be prepared to pay for key elements to be handled by a professional team.
• Embrace the idea that good website execution is more than how the site appears to the eye
Don’t
• Overpay for features you do not need
• Try to address the project on a piece meal basis
If you need help scoping or assessing your firm’s web development needs contact Garrett Slate at garrett@mergerlabs.com
