Budget is always a priority when starting a new business. You have come up with a solution you want to bring to market, but you certainly don’t want to spend more than you need to prior to launching.
After all, not having enough money is the second reason startups fail, according to CB Insights research. Budgeting web hosting is important, especially since your online presence can have a direct impact on your business’ success.
One way you can save money is learning the ins-and-outs of website hosting services. Choosing the right hosting service can save you money upfront, as well as down the road as your business grows.
Website hosting budget questions to consider are:
- What hosting service should I start with?
- What are the differences between the main hosting services?
- Do you need all those add-on hosting features?
- How long should I signup for?
Getting the answers to the above questions can make finding and choosing a web hosting service that is business budget friendly easier, and less stressful. The following top tips can help.
Most Common Web Hosting Services Explained:
There are a lot of different choices when it comes to web hosting services. Finding the right one can prove challenging, especially if you don’t know what to look for, and how certain factors can impact website performance and bottom line. Here’s what you need to know:
1.) Shared Web Hosting Service:
Shared hosting is the most common and most in use by businesses just getting their feet under them. This type of service is exactly as it is advertised, “shared.” This means that your website will be sharing server space with a number of other sites.
This is what makes shared hosting the most affordable for businesses on a budget. However, one of the biggest disadvantages is that if you are sharing server space with a large, high traffic site, your website’s performance can be impacted negatively.
2.) Dedicated Web Hosting Service:
Dedicated hosting services can sidestep the issue of sharing server space with a large, high traffic site. With a dedicated server your site will perform perfectly, and you also have more control and permissions.
However, dedicated hosting can be expensive with plans starting at $100 per month. The upside is that you won’t need to upgrade your hosting plan as you grow.
3.) Cloud Web Hosting Service:
Cloud website hosting services are new and serve up a number of features that can be enticing for businesses. For instance, cloud hosting is highly scalable. When you need more server capabilities due to business growth, the hosting provider simply adds more hardware.
If you already have a hosting service in place, but looking to upgrade your hosting plan based on recent growth and more website traffic, get an idea of the services before paying too much for too little.
4.) Website Hosting Add-Ons:
When you get an idea of what type of hosting service you need to be successful, don’t get too carried away with the plethora of add-on features providers offer. Add-on features can be costly, adding up fast, and have higher renewal rates down the road.
To avoid these additional costs, be honest about what you really need. It is also important to read the fine print relating to some hosting plan features. For instance, “unlimited” bandwidth/disk space may not really be unlimited. Yes, you may receive the as advertised unlimited offering for a time, but once you meet a specific usage point, your unlimited becomes quite limited.
Add-ons like Sitelock, or Microsoft 365 may not be needed in the early stages of your business. Many add-on features can even be facilitated using WordPress plugins. Be sure to read the terms of service on hosting plans and make smart, money saving decisions.
5.) Think Long-Term for Your Business:
There are a lot of ways to save money on web hosting services, and one of the best is to purchase a long-term hosting plan. This may be a large sum up front, but if you think a few years down the road, you can save a lot of money.
For example, 36-month hosting plan can be as much as 50 to 70 percent off if purchased up front. Be sure to compare all the plans, because many times some plans are the same amount of money too. Even a 12-month plan can serve up a savings of 30 to 40 percent, depending on the web hosting provider.
A Thrifty Business is a Successful One
The second biggest reason startups fail is because of funding. If you cut as many upfront costs as possible, you are solidifying your business’ future. You can start with staying under budget when purchasing a web hosting service. Balance what you need now to launch a successful websitewith what you’ll need in the first two or three years, and you’ll find meeting growth demands easy for your website.