Search Engine Optimization or SEO is a broadly utilized online marketing strategy that’s purpose is to increase brand awareness, establish targeted traffic, and increase your organization’s or business’s rankings in the search results of search engines like Google, Yahoo, Baidu, and Bing. All of which are sought after by many online marketers whose interest is in scaling their product or service offers.
Though the advantages of good SEO are clear, the cost of performing an SEO strategy can differ significantly depending on the aims of the company, and the kind of strategy being executed. The expenses linked with developing SEO should be viewed as an investment for your business. With any investment, your prior goal should be producing the best possible Return on Investment(ROI.) And ROI is defined more by what gets done than it is by how much you paid for it. This means that getting a bad deal on the right thing is better than getting a good deal on something that won’t even help your website no matter how much money you thought you saved by using it.
When it comes to choosing an SEO agency and implementing SEO strategies, you will likely want to know how much bucks you need to spend on it. Since the dawn of search engine optimization, answering the question ‘How much does SEO cost?’ has been tricky. Although the mechanics and toolkit for SEO are somewhat the same for most projects, there are a large number of variables to take into account when making a strategy and budget. Mostly, it is complex to judge the real cost and possible ROI of an SEO project at its beginning.
Understand the dynamics
Before anything else, you must know how competitive your industry is and how competitive the areas you serve are. The price of raising rankings alter dramatically from business to business and the quantity of possible traffic in a specific market. For some local industries, being on the first page of search engine results leads to a huge increase in leads and revenue while others only a minimal difference.
Then, you must analyze the starting position of your business’ entire digital appearance: the scale of the website, the structure for SEO, the keyword-rich contents the site contains, the number of technical SEO issues in the site, etc.
The cost of SEO Services
There are five kinds of SEO service:
- Do It Yourself (SEO Software, books, training, etc.)
- Budget Offshore Agencies
- High-Quality Agencies
Do It Yourself (DIY)
DIY SEO Software is the only legitimate option for people with more time than money. The cost ranges from $50-$300 a month. It’s a very effective option for those who have the right skill set and willingness to spend their time on it.
Rather than consultants and agencies, the DIY segment of SEO software is targeted primarily at end-users. It focuses on giving precise actionable steps that you can take to enhance your website SEO. It is very ideal because you are the one doing all the work and you will notice everything going on in your business.
Freelancers are perfect for people who know exactly what they want and don’t mind managing. They are usually more affordable than agencies as their lack of overhead means that they’re willing to take on much smaller projects. According to Credo’s survey, SEO consultants cost an average of $136 per month in 2017. Monthly packages from freelancers typically run around $500-$2500. Most SEO consultants specialize only in one or two areas of SEO, such as technical SEO, content strategy, local SEO, e-commerce SEO, or keyword research. Because they are independent, it is also possible that they’ll give you a little friendly advice without high monthly deals.
Budget Offshore Agencies
With a cheap rate of $500-$1,500 a month, multiple SEO agencies target small and medium-sized businesses. The usual low-cost SEO agency includes a US-based account manager working on 20-100+ accounts, with all of the real implementations of work managed by foreign teams in Asia.
Clearly, an efficient SEO & inbound marketing team typically requires multiple team members whose salaries are varied by their position. And according to GlassDoor, the average wage for an in-house SEO team in the US is $62,380. Those bucks are only a portion of the cost for your team; you’ll also need to consider for taxes, office space, benefits, recruiting, training, vacation, software, equipment, management, and overhead time. For a 3-4 person team, this will most likely cost a minimal of $50,000 per month. Since the team works only for your industry, they become very familiar with the website, the products, and the customers. This leads to a great possibility of long-lasting connections with bloggers, journalists, and other influencers.
Surveys of both Moz and HubSpot discovered hourly prices charged by SEO agencies most commonly fell within $100 and $200. Before contracting on with an agency, be sure to question who will actually be doing the job. Many agencies apply their most skilled team members in the pitch phase, then transfer you to junior team members once you sign. What can they do for you? The expert SEO agencies can support everything needed to get excellent results from SEO. Also, they are full-service digital marketing firms who can also assist you with website growth.
The cost of SEO varies from the type of service you want to receive. These different types of services are fit for different types of website owners. It’s up to you to decide what’s best for your website so long as your goal for your industry is not demoted.