Do you really need to spend money to make money?
If you’ve ever tried to make money, someone has probably told you that you need to spend money first. But we’re not talking about brick and mortar businesses in this post – so is this adage still true if you want to make money online with your own website? I mean, there are free web hosts, free SEO tools, and lots of other “free” things that can help you grow your business.
So – why not just stick to the free tools and save some money? Or at least the low-cost tools?
Well, you certainly can do that, but I’m going to argue that it’s going to slow down your growth, hurt your marketing strategies, and, for a website, give your visitors a poor experience.
That doesn’t mean you can’t do it. But it does mean you might take longer to get to where you want to go and you might even make less money than if you’d just spent a little more (even after taking those expenses into account, of course!).
In this post, I’ll explain why “you need to spend money to make money” does still apply to launching an online business. I’ll do this by highlighting some of the common pitfalls of avoiding spending money and explaining why cracking open your wallet will make a meaningful impact on your business.
Seven pitfalls of being cheap: Why you need to spend money on your website
In my opinion, these are seven of the biggest things that can go wrong if you put too much emphasis on saving money:
- Your website will load slowly which will annoy your visitors and cost you money. #
- Your SEO strategy will be suboptimal, which means you’ll struggle to get visitors from “free” traffic sources like Google. #
- Your content won’t engage visitors (or you’ll spend too much of your own time creating content instead of growing your site). #
- Your website design won’t be good, which leads to bad branding and poor user experience. #
- You’ll settle for free WordPress plugins even though the premium option has the feature(s) you need. #
- It’ll take forever to start getting traffic because you’re scared to spend money on ads on platforms like Facebook or Instagram. #
- You’ll waste tons of time on organization/project management that could be better spent growing your business. #
Let’s look at each area in more detail…
1. A slow website means lost opportunities
Did you know that having a slow website will increase your bounce rates, hurt your SEO rankings, lower your conversion rates, and just generally make your visitors have a bad time on your website (if they can resist hitting the back button in the first place)?
That’s not just me making stuff up to sound scary – there’s data/facts behind all those claims:
If you want your site to be successful, you want the opposite trends for all those metrics. You want
This article was written by Colin Newcomer and originally published on CodeinWP.