How much money should be invested in a new digital project? What should the most money be invested in and does the success of the project depend on the amount of money invested? What are the inevitable items that you have to invest money in when starting a new digital project?
Launching a new digital project it can be a very demanding and complicated task – especially if you have no previous experience. The fact is that today we all use the Internet and that half of our life happens on the internet – from correspondence with friends, through shopping, to performing business tasks.
As a result, websites and online services have become a key part of our lives. They are springing up all over the world week after week a new digital project whose goal is to make everyday life easier for people and to bring money to the owners. However, in order for a certain project to become successful – it is necessary to invest money. Exactly how much money – find out below:
Domain is the least expensive although it is very important for branding
The domain is one of the foundations of your future digital project. If you are planning to develop your own website that will be completely under your jurisdiction – you need a domain. A domain is actually the name of your websitethat is, the address through which you will access the content of your website.
The domain consists of the name of your project (eg geek) and the extension of the domain, i.e. TLD (e.g. .hr). Ultimately, you get a full domain which in the above example reads geek.hr. As for the domain name itself, you can choose almost anything you can think of, with the fact that you have to count on the fact that some names are already taken. As for TLDs, you are partially limited and can only choose what is offered on the market.
Domain prices vary depending on the TLD and the popularity of the domain. Thus, you will pay only HRK 50 per year for the .eu domain, while you will for a .com domain, you need to set aside about HRK 100 per year. One of the most expensive are .hr domains, for which you will need to allocate more than HRK 500 per year.
With new domains, you can opt to buy expired domains, i.e. domains that have already been used by someone. Such domains have an advantage because they already have a certain reputation and backlinks – so sometimes it pays to invest in such domains. The prices of such domains range from one hundred to several tens of thousands of kunas – depending on quality and popularity. Given that the domain is a very important factor in future branding – choose your domain carefully.
The price of hosting varies considerably depending on the location and the amount of traffic
Hosting is a remote computer that is always active and on which you will host your website – so that users can access it at any time. Hosting today is made up of powerful and powerful computers whose resources mostly shared between multiple users.
There are various types of hosting packages and services on the market, so the price of hosting varies considerably. On the domestic market, you can find several popular hosting companies (e.g. Plus.hr) that will help you hosting costs between HRK 50 and 100 per month, or up to HRK 1,000 per year. Of course, you can find much cheaper solutions on the foreign market – but then your data will be saved in some remote destination in Europe or the world.
When your project grows and starts getting a large number of users and views then you may need i higher quality hosting that you will pay around HRK 1,000 per month. However, you can generally switch hosting packages easily in the later stages of the project – so you can choose a more favorable variant to begin with. Anyway, prepare at least HRK 500 per year for hosting. Note: It is generally possible to host several digital projects on one hosting.
Designing and programming a website can be very expensive
Designing and programming a website can be a very tiring and complex task if your digital project is quite complicated. Namely, if your web project contains more functionality, you will probably need to pay developers and designers a lot more working hours – in order to turn your idea into reality. Developer prices range from HRK 200 to moreand a slightly more complicated project will require over 50 hours of work.
If you are starting a “simpler” web project such as a blog or a web portal – then you can also use some ready-made solutions. For example, then for the development of a digital project you can choose the very popular WordPress (which is free) and install a certain WordPress theme on it, which can be free or paid.
If you want to look more serious and high-quality in the eyes of future clients – definitely opt for a purchased theme, i.e. a template. Unlike free themes that are mostly sparse on options – the purchased theme allows you much greater flexibility and creativity. Investing in a quality theme will sooner or later prove to be a wise idea, especially since it is not such a big expense.
Price of paid WordPress themes it generally ranges from HRK 200 to HRK 700, with an average of around HRK 500. Such a theme will allow you to more easily handle the content on the website – which will be very useful for you in the later stages of the project. Therefore, investing in a quality WP template is generally a wise decision.
Content is the most important and most expensive part of a digital project
All your online visitors will come to your digital project solely because of the content you offer. No one cares how your site looks design-wise or what the dominant colors are – yet the user is only interested in the content on your website. The higher quality and more comprehensive the content – the greater the chance that your project will be more successful and attract more visitors.
Content is the most important and most expensive part of building a digital project and the cost can amount to several tens of thousands of kuna or euros. Of course, you can create the content yourself – but then you will spend a lot of time and energy on it – and the results will come more slowly due to your limited time.
Content creators (writers) you can pay from HRK 100 to HRK 2,000 for articles of 1,000 words. If you are just at the start of the project, we advise you to take a more affordable writer, but to focus on the quantity of content. That is, try to combine as much and as much quality content as possible. Experienced webmasters search for their writers through detailed selections through freelance platforms such as Upwork and Freelancer.
Branding through links and social networks
Your digital project will grow very slowly at the very beginning, however with hard work and commitment you can achieve excellent results after half a year or more. One of the most important steps in the later stages of project development is certainly branding. Your digital project must become a recognizable name which people will trust and return to.
Experts recommend that you can best brand your website by investing in backlink building and social networking. Backlinks will suggest to web search engines that your website is valid and that they should rank it better, while social networks will help bring new users to your website.
Backlinks can be quite expensive and you will mostly be on them spend from 500 to 3000 HRK per link. Try to buy as many relevant links as possible and be careful not to overdo it with the number of links. On the other hand, you can run social networks independently or leave them to people who deal with social networks – which will cost you from HRK 1,000/month to more.
Can a new digital project be started for less than HRK 2,000?
It can, but it depends a lot on what kind of project you are starting. Of course, the larger and smarter the monetary investments are – the more they will results to be more pronounced and of better quality. If we look at the above mentioned items, it is easy to calculate how you will do it to start a digital project, a minimum of HRK 1,000 should be set aside – how much the domain and hosting will cost you. With free WordPress and a free theme and with your own content creation and web branding – you can keep the invested figure under HRK 2,000.
However, if you have already decided to start a digital project, you should not skimp on every kuna or euro. Invest a little more money in the start in order to get an initial boost because the most difficult thing is to be motivated at the start – when the results do not come at all. Digital projects require patienceand somehow it seems to us that you will be patient and more caring – if you invest money in the project.
All of the above mainly refers to smaller projects such as blogs and simpler websites, i.e. web portals. If you intend to start a multifunctional digital project full of features – you will need a lot of money. Creating the web project itself could then very easily cost you more than HRK 100,000. But if you are going to invest so much money in making it – then invest at least another half of that money in promotion and branding. The most important thing is to be visible to your future users – and this is achieved with quality content and promotional activities. Good luck!