Have you ever walked into a building and thought, "This place was probably really nice and new thirty years ago." The problem for business is that if you do work in an outdated, poorly managed office, you send the message to your customers that perhaps you are outdated and manage poorly. First impressions are vital, and they're usually visual.
That being said, just as it's important to keep your physical location up-to-date and in good shape, the same can be said for your website. However, while you might be able to go twenty years without remodeling your physical location, the shelf life of your current web design is probably only five years. Why is that? Because advances in design trends and website technology happen at a much faster rate than other aspects of your industry.
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