As we know using a professionally trained individual or organisation for any service comes at a premium - whether thats a painter and decorator, mechanic, print or web designer. Why is it expensive? Because we're good at what we do. It's taken years to get this good with lots of training and dedication to the craft - and we want our salary to fairly reflect that. Because we've earned it.
But what is a projects's value?
The value of a project has no direct monetary value per se - its based on the benefits it brings to a business or individual.
"A project's value is defined by the value a project creates for its stakeholders. The project value could be represented by a single or any combination of efficiency, technical effectiveness and the satisfaction of a project's stakeholder with emphasis on clients and shareholders1."
So why do a lot of business owners not recognise this when design or development is involved? Having a budget for a design project does not define or depict its value. The budget for a project is what is perceived to be the projects' value, but this is very wrong. Its important not confuse one with the other.
We could define the value of a web design project in a few ways:
- Have more leads contact us via a form
- Better copywriting and SEO
- Better ranking on search engine results
- A better design to have visitors stay on a site longer
Any one of these could lead to more revenue over time if done correctly, and if they work that means they have value. You could spend £3,000+ on a new website or a new piece of software, a new piece of machinery - but what is it worth to the business? If it converts to £10,000 in sales that would be a success right? This would mean that the value of the project has far outweighed its price.
Getting quotes for design or development work can be scary, they may be way more than you think, or less - either way before you limit the project with a price tag think about how much value it could bring to your business.
1 https://www.pmi.org
