The first thing that you need to consider before digging into how much you should spend is whether or not your business actually needs SEO. As the SEO Agency Belfast explains Not all businesses will benefit equally from SEO campaigns and so it is important to keep this in mind.
Types of businesses that may not warrant spending money on search engine optimisation or digital marketing include government contractors, including roadworks, civil engineering and such like. If all of your work comes from government contracts, and you have little to no interaction with consumers or private individuals or companies as customers, then optimising your website to appear at the top of the search engine results for services related to the services that you offer, may not have a significant value.
However, even though we say this, there can be significant prestige and reassurance in showing up at the top of the search engine results in your industry, whether the intention is for your company to win business in this way, or simply to appear as a professional, intelligent company who understands that an overall good impression will be created in the eyes of the people that you do business with by securing a top position on Google for your market or services.
With that said, it is true that the majority of businesses do sell to consumers and private companies, and while most businesses would like to have contracts with the government, the reality is that a very few do.
So in terms of showing up on Google and deciding how much to devote to this marketing activity, we would ask customers the following questions:
Do you currently makes sales or generate leads online?
By asking this question, it helps us to understand your business. To learn which keyword search phrases related to your products and services have the most value, and then to assess the market potential for your business by improving how you show up online.
What is your average customer value?
By asking this question, we can quickly assess the potential ROI for your market. For example, if your average customer value was £1,000 and we estimated that by ranking for Google searches related to the products that you sell, that you could potentially attract 5 new customers a month then this could be a valuable outcome for the customer.
If we assign a hypothetical monthly SEO fee of £1,000, then it is clear that there is potentially a five times return on the SEO fee, or a return in the region of 500%.
What is the lifetime value of a new customer?
For accountants the average lifetime of a customer could be ten years. If that client was billed £1,000 a year for accountancy fees, then that client could be worth in the region of £10,000.
If showing up at the top of the Google search engine results helps you to acquire ten new clients a month, then it is evident that search engine optimisation could be an extremely valuable proposition for your business.