How to Calculate ROI of Magento Hyvä Theme Investment?

With all the resources available online I’m sure you know everything about the “Hyvä themes” like:

• what is Hvya, 
• why it was invented,
• how it differs from Luma and other Magento themes, 
• what are the benefits of Hvya,
• what’s its license cost, etc.

(Don’t worry, we won’t take any assessment!)

These all are basics now. And when you are really thinking of implementing the Hyva theme, you might be curious to know the advanced information like–

• How much does it cost?
• How much time does it take?
• Is it a huge investment?
• What will be the ROI?

and so on… This post covers everything you’re looking for! 

But before we begin, I would like to request you to keep your note and pen with you. It’s because, here we will show the complete ROI calculation of the Hyva theme investment. So, if you wish, you can join us and do the calculations for your business too.

Let’s get started…

What’s the ROI of Magento Hyvä Theme Investment?

I know you’re excited to see the best part of the post, i.e. the return on Hyva investment!

Before we know the Hyva ROI, it is important to be aware of the investment first.

Hyvä Theme Investment (Approximate)
1	Hyva development cost	$14,510 – $18,660
2	Hyva development time	Approx. 2 to 4 months

Source: Time and Cost to Implement Hyva Theme in Magento

Please note that these are just estimated values (assuming project complexity is low). The actual cost and time duration of your Magento Hyva project may vary.

Cost of Investment

The estimated development cost is given in range. So, we are considering the below cost for calculating the ROI.

Hyva theme license: €1,000 (approximately $1,080)
Development cost (Hypothetical): €15,000 (approximately $16,200) 

Total Cost: $1,080 + $16,200 = $17,280

Here, we are taking a scenario (given below) to show you how eCommerce brands with specific revenues get the ROI of Hyva theme implementation.

Scenario: Monthly Revenue of $50,000 

Let’s assume your Magento store generates $50,000 monthly, and we’re considering investing $17,280 in Hyva. We’ll explore how Hyva might impact your key metrics and calculate the ROI period.

Let’s say your store currently has a 1.5% conversion rate (meaning 1.5 out of every 100 visitors make a purchase) with an AOV of $50 (the average amount spent per purchase). And with the monthly sale of $50,000. Now, assume that implementing a Hyva theme might increase your conversion rate by only 10% i.e. 1.65% due to the improved user experience.

So here’s how your ROI will look like in the 1st month of Cost Investment:

Initial Data:

• Current conversion rate: 1.5% (1.5 visitors out of 100 make a purchase)
• New conversion rate: 1.65% (increase of 10%)
• Average Order Value (AOV): $50
• Monthly sales: $50,000

New Monthly Revenue Calculation:

1. Current Monthly Orders: We can find the number of orders needed to generate the current monthly sales using the AOV.

Current monthly orders = Monthly sales / AOV = $50,000 / $50 = 1,000 orders

2. Current Conversion Rate: Since we don’t have the exact number of visitors, we can estimate the number of visitors needed to generate the current number of orders based on the conversion rate.

We can’t directly calculate visitors from sales figures. However, for reference:

Current conversion rate (as a proportion) = Current monthly orders / Estimated total visitors

1.5% = 1,000 orders / (Estimated total visitors)

This gives us: Estimated total visitors = 1,000 orders / 0.015 = 66,667 visitors (rounded to nearest whole number)

3. New Monthly Orders: With the improved conversion rate, we can estimate the increase in orders assuming the same number of visitors.

New monthly orders = New conversion rate * Estimated total visitors (from the previous step)

New monthly orders = 1.65% * 66,667 = 1,100 orders (rounded to the nearest whole number)

4. New Monthly Revenue: We can calculate the new monthly revenue based on the expected number of orders and the AOV.

New monthly revenue = New monthly orders * AOV = 1,100 orders * $50 = $55,000

Incremental Monthly Revenue: This refers to the additional revenue generated due to the improved conversion rate.

Incremental revenue (monthly) = New monthly revenue – Current monthly revenue
= $55,000 – $50,000
= $5,000

Total Annual Benefit: We calculate the total increase in revenue over a year by multiplying the incremental monthly revenue by 12 months.

Total benefit (increased revenue over 1 year) = $5,000/month * 12 months = $60,000

	Current	Net New (After Hyva)
Orders per month	1,000	1,100
Revenue per month	$50,000	$55,000
Increased Monthly Revenue	$5,000
Total Annual Benefit	$60,000

ROI Calculation for the Year: ROI (Return On Investment) measures the profitability of an investment. Here, it shows how much profit is generated for every dollar invested.

• Total Cost = $17,280
• ROI = (Total Benefit – Total Cost) / Total Cost * 100
• ROI = ($60,000 – $17,280) / $17,280 * 100
• ROI = 247.69%

Break-even Point Calculation: This refers to the time it takes for the increased revenue to recover the initial investment cost. Here, we consider the total new monthly revenue, not just the incremental increase.

• Break-even point (months) = Investment / Increased monthly revenue 
• Break-even point = $17,280 / $5,000
  = 3.456 months (approximately 3.5 months)

With the improved conversion rate, the investment yields a positive ROI of 247.69% in the first year, indicating a very profitable investment. The break-even point is approximately 3.5 months (meaning investment is recovered within a short period), even after a slight improvement in the conversion rate (by 10%) contributes positively to the ROI.

Here’s a breakdown of our Hyva ROI calculation:

Metrics	Current	After Hyva
Monthly Revenue	$50,000	$55,000
Average Order Value (AOV)	$50	$50
Monthly Orders	1,000	1,100
Monthly Visitors (estimate)	66,667	66,667
Conversion Rate	1.5%	1.65%
Increased Monthly Revenue	–	$5,000
Total Annual Benefit	–	$60,000
ROI Period: 247.69% (Approx. 3.5 months)

Here the “Current” column represents the store’s performance before implementing Hyva. Please note that some values are assumptions based on studies by Industry Experts.

Remember, these are just estimates!

The actual ROI may vary depending on how effectively you implement Hyva, market conditions, and your store’s specific performance. But this calculation gives you a good starting point to understand Hyva’s potential impact on your profitability.

Studies have shown that even slight improvements in website speed can significantly impact conversion rates. For instance, Walmart found that a 1-second improvement in page load time led to a 2% increase in conversions.

Hyva can potentially improve conversion rates even for a small or mid-size store. 

The returns on Hyva investment are really amazing, isn’t it? Now you must be wondering how to get started with Hyva.

The next section will help you with the ideal roadmap. Let’s go!

How do I get started with a Hyva Theme Implementation?

I agree that the process of implementing the Hyva theme is tricky for non-technical people like us. But, relax… we don’t have to implement it ourselves (developers will do that).

We shall look at the basic preparation to start the Hyva development process.

Here are the steps you need to follow when implementing the Magento Hyva theme:

Step 1: Evaluate your store’s current performance

The first step is to create a baseline that will help you measure the impact of Hyva after implementation. 

So, before heading towards the Hyva theme, you should mark your store’s current performance. For that, you need to analyze key metrics like conversion rate, bounce rate, page load speed, and web core vital of your Magento website.

Take your diary and note down all the metrics about your website. You can also save the screenshots that will be more helpful in future comparisons.

Here’s an example of a Hyva performance comparison of our client: Imaginfires!

Step 2: Define your goals for Hyva implementation

 Ask yourself: what specific improvements do you hope to achieve with Hyva? 

Understanding your priorities will guide your approach and ensure the final product aligns with your store’s specific needs. 

Here are some key areas to consider:

• What are your biggest pain points with your current Magento storefront? Is it slow website speed, low conversion rate, or higher bounce rate?
• What are your primary goals for implementing Hyva? Do you prioritize significant speed improvements to boost conversions? Are you looking to enhance the user experience to increase customer satisfaction and engagement? 
• What success metrics will you use to measure the impact of Hyva? Tying back to the baseline metrics established in Step 1, consider how Hyva will influence conversion rates, bounce rates, page load speed, and other relevant KPIs.

Once you’ve identified your desired areas of improvement, prioritize them based on your current needs and long-term vision. This will help you determine the most suitable implementation approach for your Hyva project.

Step 3: Decide whether you need custom development or a Pre-built template

Now, it’s time to decide on the implementation approach that best suits your needs. Here are the two main options:

A) Hyva Theme Development from Scratch

It’s best for stores requiring extensive customization or unique functionalities beyond the capabilities of pre-built themes. This approach allows for complete control over the look, feel, and behavior of your Hyva storefront.

Custom development typically requires a higher upfront investment ($10,000 – $17,000) and longer development time compared to pre-built themes. You’ll need in-house development expertise or partner with a Hyva development agency.

B) InstaBuild: Hyvä Theme Accelerator

InstaBuild is a Hyvä Theme Accelerator that is a cost-effective and time-saving solution for launching a Hyva storefront quickly. Various industry-specific templates are available that offer a professional design foundation for your Hyva theme development.

With a fixed price of $550, you get a functional Hyva theme ready to be populated with your content.

You can choose from various industry-specific themes that suit your eCommerce business niche and then pay a minimum for customization to fit your specific branding and functionalities.

Step 4: Set a realistic budget

Once you’ve chosen your implementation approach (custom development or pre-built template), you need to set your budget. I know it’s a little difficult. Don’t worry, we’ll show you how to do that.

Here’s how you can create your budget plan:

No.	Cost Item	Hyva Custom Development	Pre-Built Template (InstaBuilt)
1	Hyva Theme License	€1,000 ($1,080)	€1,000 ($1,080)
2	UI/UX Design (Optional)	$600 – $1,000	N/A
3	Hyva Theme Development	~ $10,000	N/A
4	InstaBuilt Template (Optional)	N/A	$550
5	Customization of Pre-Built Template	N/A	~ $2,500
6	Custom development (extensions)	$2,000 – $5,000	$2,000 – $5,000
	Total Estimated Cost	$13,680 – $17,080	$6,118 – $9,118

As you can see, custom development typically has a higher upfront cost compared to pre-built templates. The extent of desired customization will significantly impact the overall cost for both approaches.

Remember, this is just an estimated cost breakdown. The actual cost for your project may vary depending on your specific requirements. Now, you can list down the estimated cost associated with Hyva theme development and prepare a realistic budget plan.

Step 5: Hire the right Hyva development agency

Do you have an in-house development team for your Magento store? 

While your developers might have expertise in Magento, Hyva utilizes different technologies like TailwindCSS and AlpineJS. This might require additional training (approximately 15-20 days) to become comfortable with Hyva theme development and integration.

Learn more: Why You Should Consider Hiring a Hyva Theme Developer?

If you need quick and seamless implementation then you should consider hiring Hyva developers or an experienced Hyva development company.

Key Takeaway: Look for Official Hyva Partners! 

Agencies that are official Hyva Partners have demonstrated their expertise and commitment to the platform. These partners often have access to exclusive resources and support from Hyva, thus further ensuring a successful project outcome.

Check out our detailed guide on How to Hire a Hyvä Theme Developer for hiring the right partner!

Step 6: License acquisition and Hyva implementation

Once you’ve partnered with a Hyva development agency, the exciting process of building your Hyva storefront begins!

The agency will work with you to understand your existing Magento store, its performance (including Google Core Web Vital scores), and your business goals for the Hyva implementation. Based on these discussions, they will create a project plan tailored to your needs.

The agency will also help you acquire the Hyva license. Then, the development team will begin building your Hyva theme, integrating the required extensions and functionalities you’ve agreed upon. This is where your store starts to take shape!

Throughout this process, you will receive regular progress updates and opportunities for feedback to ensure the final product aligns with your expectations and effectively meets your business needs.

Step 7: Go live with your Hyva-powered Magento store!

Once the theme is built, the agency will conduct rigorous testing (User Acceptance Testing or UAT) to ensure everything functions as planned and delivers a seamless user experience. This includes simulating a pre-launch environment to identify and address any potential issues before going live.

If everything works well, the agency will deploy your Hyva storefront to your Magento store, replacing the existing frontend with your new, optimized Hyva theme.

Remember, a reputable agency will offer ongoing maintenance and support after the launch to ensure your Hyva storefront remains optimized and delivers a consistently positive customer experience.

Now, you can start reaping the benefits of a faster, more user-friendly shopping experience.

Magento Hyva Themes FAQs

Have you got some questions?? We would like to address them here!

Will Hyva Pay for Itself?

Yes, the Hyva Magento theme will pay for itself. The high performance and better user experience ultimately boost the conversion rate. So, you get more sales or conversions with the same traffic volume. This way, within months you can recover all the investment in implementing the Hyva theme.

When does a Hyva theme investment make sense?

The Hyva theme investment makes sense when you already have a customer base and can’t compromise the website’s speed and performance. Hyva theme is open for all: Small businesses with tight budgets to large businesses with high-volume traffic.

What metrics influence the ROI of a Hyva theme investment?

Conversion rate, bounce rate, website traffic, and average order value are key metrics that influence the ROI of a Hyva theme investment. Hyva themes aim to improve these factors by offering a faster, more user-friendly shopping experience and potentially lead to more sales and higher revenue.

Is Hyva Theme Implementation Time-Consuming?

Both Yes and No! Hyva theme implementation becomes time-consuming if you choose the Hyva theme development for your entire store (from scratch). You can reduce the implementation time as well as cost by considering Hyva’s theme fallback mechanism or pre-built templates (InstaBuild for Hyva themes).

See how you can cut the Hyva implementation time and cost to HALF! 

What’s the estimated investment of the Magento Hyva theme? 

The estimated investment of the Magento Hyva theme ranges from $4K to $19K. If you go for custom development the cost will be higher. There are many ways to cut down this cost and get Hyva theme implementation at an affordable cost.

Is Investing in Hyva Themes a Huge Financial Burden?

No, investing in Hyva themes is not a huge financial burden. The Hyva development cost will be higher only if you need extensive customization or a highly personalized storefront. Hyva offers options to reduce implementation costs, and the potential ROI through increased sales can make it a worthwhile investment.

Can Hyva themes benefit small Magento stores?

Absolutely! Hyva themes can significantly improve website performance and user experience, which can lead to higher conversion rates and increased revenue for even smaller stores.

How impactful can the Hyva theme be for a high-volume store?

Hyva themes can be very impactful for high-volume stores. The focus on performance and speed can help handle large amounts of traffic efficiently. Additionally, the ability to customize the storefront can help optimize the user experience for high-volume stores.

Is the Hyva theme only for large businesses?

No, Hyva themes are designed to be scalable for businesses of all sizes. The pre-built templates and theme fallback mechanism make them a viable option for smaller stores with tighter budgets.

Have more questions in your head?? Why not ask our Hyva experts?? Write us at hello@aureatelabs.com or fill out the form at our Contact Us page!