Today among the well-reputed and high-worth business industries, eCommerce is the one. According to the statistics, it has shown that the projected revenue of the eCommerce industry is USD 3,904 million in 2020. However, it is predicted that the revenue will reach USD 7,236 million by 2025. Those who are interested to be a part of this huge revenue are said that the option is good for them but they have to know the cost comes to face while starting a new eCommerce business. The given discussion will make the users able to know that, what the cost of the eCommerce business development or eCommerce website design services is and what features make an eCommerce business successful:
You are required to buy a domain name for your website or an eCommerce website such as www.yourname.com. Users are required to pay to buy this name. After purchasing a specific name of your website you are required to buy the hosting through the servers on which your website can run. The hosting cost is different according to the different plans. For example, the hosting companies offer different kinds of plans including basic plans, business plans, and premium plans, etc. Chose the plan according to your need. However, the estimated cost of hosting for an eCommerce site ranges between $2.75 and $299.00 per month.
Payment Processing Cost
While starting the e-commerce business, many beginners do not take care of the payment processing cost. Although, it impacts a lot on your revenue. Sometimes, the payment processing cost increases your cost and decrease the profit. However, the cost of the payment processing methods depends upon the eCommerce platform you choose. The following is the estimated cost of the payment processing method:
· WooCommerce: PayPal or Stripe – 2.9% + $0.30 for transaction
· Shopify : Shopify Payments – 2.9% + 30¢ | Additional 2% per transaction for third-party payment gateways
· BigCommerce: PayPal or Stripe – 2.9% + $0.30 per transaction
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A website requires proper design before going to be functionalized. To design your eCommerce site you are required to hire a designing team including a graphic designer and a front-end developer. So, the designers and developers charge you to offer you a unique design for your website. The cost of designing depends upon the development company or the designers you are going to hire. However, the estimated cost of ecommerce website design ranges between $99 and $ 5,000 depends upon your requirements.
Add-Ons and Extensions Cost
For any of the eCommerce platforms, it is quite difficult or not possible to design or implement all the features. If the platform will do so the site will get messed. So, in order to fix these problems or to introduce the new features an eCommerce website or platform requires to add add-Ons and extensions. The estimated cost of add-Ons and extensions ranges between $299.00 and $1000.00.
Total Costs of an eCommerce Website
From the above discussion, one can take the idea that how much he has to spend to start the eCommerce business. However, here we also come with the total cost of an ecommerce website under the light of the different ecommerce platforms. However, a survey reveals that a website can be prepared and functionalized completely within $500 to $5,000.
Keep remembering that the cost of the development starts from $500 and the cost increases with the increasing number of features and additional extensions. Here we come with an additional tip for the users that if you are worried about the cost of the development then put the necessary features at the starting point and start your business. However, you can add additional features with the increase in your revenue.
On the other hand, the users who are looking to start a professional business and do not want to take any risk then they are advised to start an eCommerce site with the advanced features and extensions to reach their goal.
Costs To Grow Your Business
Here we would also like to share an idea with the users and clients that once you have completed an eCommerce site, it does not mean that you have paid all the cost. Instead of this, you are required to pay extra to grow your business. You are required to hire the proper teams to maintain your business. For example, you are required to hire the marketing team, content creating team, social media marketing team, the developer’s team, and some other professionals to maintain the system accurately. The cost to grow your business depends upon the performance of your teams. The estimated cost of business growth is around $1000 per month.
What are The Must-Have Features for Ecommerce Sites
Besides giving users the ideas of the cost of the eCommerce website, we also have shared that ideas regarding the basic features that an eCommerce website must have to work efficiently.
- A User-Friendly Website
All the websites should be user friendly but an eCommerce website should be more convenient than other websites. This is because on the eCommerce websites the users have to shop the products. If users won’t get the suitable products and their needy products then they would leave the website. An eCommerce website should show easy payment methods to show convenience to users.
- Mobile Friendly Website
Today more than 70% of users are using mobile phones or smartphones to shop online. So, if you want to get more customers on your site then you have to hire the best website design services to design or develop a mobile-friendly website.
- High Resolutions
High-quality images and videos are the ways to attract the customers towards the given products. So, make sure that the provided images and videos are of high quality and resolutions.
- Cancellation and Return Policy
Sometimes users select the products and add them to the cart but they change their mind and want to cancel the products. The eCommerce websites that offer cancellation opportunities without any cost or charges are the most popular ones among the users. Moreover, the good eCommerce companies also offer consumers the return policy under a specific timeframe.
- Users’ Review
Feedback is always a way to get improvements in your services. So, you have to get feedback from your customers’ side. This will help you to improve the services and this will also make a strong bonding between you and your customers.
Start Your Ecommerce Business Today
If you are looking to start your eCommerce business but are confused about the cost of the eCommerce business and the basic features then hopefully we can say that the given discussion will make you able to estimate your cost as well as the basic features. However, at the same time, you are also invited by Softsolutions, a web design services company, to start your business under the motivation and efficiency of the professional development team.