Website development is very crucial for a business as it allows you to showcase your products and offerings in one place that is accessible to all web users. It gives you an excellent opportunity to appeal to potential customers and convince them about why your product is relevant to them and how it would add value to their lives.

It allows you to establish effective communication with your visitor both to and fro. It's an effective way to capture what your audience wants. You can also map the behavioral patterns of your visitors and understand their interests and dislikes by analyzing the traffic on the website. It helps you to strategize and plan further research activities accordingly.

A website is a great place to display your business as a brand. With the advent of new-age technologies and design trends, companies are harnessing the power of their web presence to get conversions and to establish themselves as reliable brands.

The cost of building a website depends on various factors. It's difficult to put a tag on that without diving into the requirement details.

Typically, you can build a website in one of these ways: Using a website builder or a CMS, or hiring a web developer to hard-code the entire website (sometimes, in combination with a web designer).

A CMS based website is usually cheaper than the one which is hardcoded from scratch due to the availability of readymade themes and plugins. But customization as per branding needs is a real challenge in such environments, which is made easily possible through raw coding.

The annual cost of maintaining a website typically depends on two major factors:

1. The size and scale of the website
2. The time it takes to maintain a website of that size.

It's quite possible that your maintenance cost is $0 per month when the website doesn't need any change once it has been optimized. In that case, you only need to focus on blogs and social media to gain engagement.

In other cases, when certain changes in the webpages and website functionality are required over the year or more, the maintenance costs could go up to $200 per month for smaller websites and $1000 per month if it's a massive website, depending upon the profile and capabilities of the maintenance service provider.

In the latter case, many things are covered under the hood of maintenance services like webmaster account updates, new content creation, etc that are difficult to be priced since it isn't pre-decided how much changes would be required.

Hence, it depends on numerous tangible and intangible factors.