Are you a business owner looking to go digital and start selling online? The first challenge you might face is setting up your ecommerce website and making an informed decision on pricing.
In this article, we’ll dive into all the factors that can affect the cost of setting up a website, and the right pricing tier which makes sense for your business.
Factors that affect the cost of your website
There are all kinds of ecommerce website builders out there, each with their own features. Naturally, you should expect to pay more for a website that comes with a wide range of features.
1. Audience insights
Metrics on your audience’s behavior helps you make informed business decisions. Audience insights gives you an idea of your customers’ buying patterns, the average order value of their orders, and how many orders you’re getting each month.
This is perhaps one of the most important features of any ecommerce website. You don’t just want a website that helps you take orders. You want a website that gives you insights and helps you come up with strategies to grow your business.
Here’s an example:
Suppose your business has been doing consistently well over a three month period, and you’re bringing in roughly the same amount in revenue. However, your audience insights tell you that the number of orders have decreased.
This could mean that despite consistent revenue, your business is increasingly reliant on a few customers who make big orders.
Depending on your business goals, this might not be ideal and you might want to plan marketing campaigns to attract more new customers.
Most ecommerce platforms these days have metrics on audience insights and the average price of a basic account ranges between $16 to $40 a month.
With Cococart, our Hobby tier costs $19/ month and gives you all the insights you need to make informed decisions for your business.
2. Marketing features
Businesses are now more tech savvy than ever because they know the importance of digital marketing in today’s day and age.
With tools like Facebook Pixel and Google Analytics, you can easily market to the right audience and increase your chances of conversion.
These marketing tools help you track customers’ behavior on your website. They also tell you which customers have clicked on your ad but haven’t yet made a purchase.
Having these insights allow you to retarget interested consumers and make better marketing decisions.
Not every ecommerce website has features that allow you to integrate Facebook Pixel and Google Analytics.
While you may not need these features to make sales per se, having the right marketing tools drastically increases your chances of conversion.
With Cococart, merchants on Hobby tier and up get to enjoy full integration with Facebook Pixel and Google Analytics. The cost of having these features on your website starts at just $19/month.
3. Discount and promotional features
Discounts and promos are big drivers to nail the sale. Imagine manually taking orders on DMs and WhatsApp, then collating discounted items in an excel sheet at the end of the day!
That’s why having an ecommerce website is so important. It helps you with your admin work and allows you to focus on marketing your sales.
We’d say that every ecommerce website needs to have this feature. With trending sales like 11.11 and 12.12 recurring on a monthly basis, you’ll want to automate your processes.
With Cococart, merchants on all our subscription tiers get full access to our bulk discount features and pricing starts at just $5/month!
Time is a cost factor
This deserves a section for itself because we can’t stress this enough! Time is a huge factor when you’re thinking about the cost of setting up your ecommerce website.
Many business owners forget this and focus too much on the dollars and cents. Unlike cash, time can’t be earned back.
The time you spend setting up your website, onboarding items, and making sure the checkout process is smooth can never be compensated.
That’s why it’s so important to choose a website that you can set up seamlessly. With Cococart, it takes just a few minutes to set up your online store. There’s no app download, no coding, and no design experience needed.
Here’s how you can set it up:
Step 1: Choose a unique link for your shop
Step 2: Add your products, delivery and payment methods
Step 3: Share your URL on your social media and start receiving orders
What is a reasonable cost for a small business?
We get it. It’s difficult to make a decision on which ecommerce website builder is best for your business. Especially if you don’t have enough data on how well your business can scale.
That’s why we believe in having a pay as you grow model. With Cococart, we make sure that your revenue far outweighs the cost of having an ecommerce website.
And if you’re just starting out, you can get an account for FREE. Sign up for an account with Cococart now and access all the features you need to sell online affordably.
How much does it cost to set up a home based business?
This depends on your region. If you're based in Singapore, you'll need to register your business with ACRA. Registration costs $300 (one-time fee). Read this step-by-step guide on setting up a business in Singapore.
Can I start a business with little to no working capital?
Yes! There are lots of business ideas to consider if you want to start a home based business but have no capital at the moment.
Print-On-Demand tshirts, freelance services, or pet grooming services are a few business ideas to consider. All you need is a website for clients to contact you. Read this article to find out which businesses you can start with no capital.
Should I start my business on ecommerce marketplaces or my own website?
Great question. Ecommerce marketplaces like Shopee, Lazada, and Amazon have a pool of customers who are ready to shop online. They also have marketing tools to help you reach new customers.
That said, competition on ecommerce platforms is stiff. It's difficult for business owners to build their brand on these platforms and connect with customers directly. With your own ecommerce website, you can make your brand stand out more as customers will only be looking at your products when they visit your store.
Read this complete guide to know whether you should start selling on ecommerce marketplaces or ecommerce websites.