15 May How Much Should a Company Invest in Search Engine Optimization?
Your company has plenty of options when it comes to marketing. That said, online marketing has been at the forefront of these efforts for quite some time now. The vast majority of consumers are looking at their phones, smart devices, and desktops more than anything else each day. They’re using search engines to find the products and services they desire, and you want to be the business that appears front and center.
So, today, it’s not a matter of whether you should invest in search engine optimization (SEO), but how much. Of course, how much you invest depends on a number of factors, such as your anticipated growth, cash position, and margins. But the bottom line is, if you’re not investing in SEO marketing, you’re going to fall behind all the other companies that are. Here are some more concrete tips for developing an SEO strategy.
Base it Off Your Revenue
When calculating how much money to put towards SEO, it’s wise to base these numbers off your revenue. If you choose an arbitrary amount, you may exceed your budget and/or diminish resources in other important aspects of your operations.
Some industries require more focus on marketing than others, but on average, most companies invest between 5 and 15% of their total revenue into marketing. Of this percentage, about 10-20% might go towards SEO development in particular. You might decide to be more or less aggressive with your SEO strategy, of course. The key is to develop a rule of thumb for your business based on your industry, your revenue, and your specific needs.
Consider Your Competition
Your company doesn’t operate in a vacuum. It’s likely that most of your competitors are implementing SEO strategies for their marketing campaigns as well. If you’re new to this landscape, take advantage of this fact and take a detailed look into what your main competitors are doing, how they’re using SEO, and how effective their approaches are.
More specifically, try developing a 20-30 page report on 5-7 of your top competitors. You might find that some are heavily focused on social media and paid promotion. Others might be investing in video and text-based content creation. Seeing what those in your industry are doing and how much they’re investing in various aspects of SEO may help you gain the perspective necessary to craft your own SEO plan.
Work With a Knowledgeable Agency
Even if you have an idea of how you want to leverage SEO for your brand, you might still struggle to turn that information into hard numbers. This is where search engine optimization experts come in handy. A knowledgeable SEO agency can help you form a short- and long-term strategy, fill you in on pricing details, and provide support during the course of different campaigns.
For instance, if your budget is limited, your SEO provider might suggest that you start small and only focus on web and email SEO campaigns at first. As your company expands, they can help you develop a more holistic SEO plan, including video, content creation, and more. Your provider can also give you tools and resources to gain insights into these marketing efforts so you know what’s working and what needs work.
Are you thinking about investing more of your revenue into SEO services and online marketing? GoEpps has the tools and expertise you need to build a better online marketing strategy for your brand. Contact us today to learn more about us and all the services we offer!