Are you paying too much for your website?
HOSTING...
In the old days, you paid a lot for your space because not a lot of people were buying space. If you are paying 15, 20, 25, 40 dollars per month for hosting you are probably paying too much. Depending on how much space and the services you need, you can get very affordable and very reliable hosting for 10.00 or less per month.
Some companies still charge these larger fees, not because they have to but because they can.
SITE DESIGN...
This is a loaded question really. Remember that you get what you pay for, unless you are paying someone a lot for something they do not have the skills to deliver.
If having a website created seems to be expensive ($600.00, $1000.00, $1500.00), keep in mind that placing fairly good size ads in the paper will cost you an easy grand per month. If you are willing to pay that on a monthly basis for a black and white ad, you should be willing to pay the same thing for a years worth of a color and multipage experience that really showcases your products and services in a dynamic and user friendly method.
If you are not already doing so, remember to use your existing advertising to drive people to your website for more information. You can then turn your single ad into a much larger interactive experience by simply adding the line, "For more information, see our website at www.oursite.com".