Knowing that your SEO marketing budget will be tailored to your company is essential. A book that tells you to invest $3,000 monthly for SEO differs from what you want.
You must know the amount you need to invest in SEO according to what SEO is for you, what you can afford now, and what kind of hiring will work for your company most effectively.
This article differs from other online articles (trying to solve the same problem).
We’ll not give you general tips and replace them with three questions informing you what you can invest in SEO advertising.
How Much You Should Be Spending on SEO Marketing
What would an SEO success story look like for you
SEO success is unique to every company. If you’re earning $100,000 annually, SEO success could look like you’ve made another $20,000. If you’re earning $5 million a year, your SEO strategy should generate high-end 6-figure income to justify the investment.
To find out the details of the SEO success story, you’ll determine the amount you’d like to achieve out of your SEO strategy, assuming everything is going well. Although trying to make $100 billion trillion out of it is tempting, we must keep our feet in the ground.
What additional items or services can your team or supply chain realistically be able to handle?
Are you able to add 10,000 additional units to your e-commerce store?
Do you have the ability to work with a further 15 agency clients?
Do you require 5,000 additional members?
Your SEO strategy is only designed to generate more visitors and converts. The ability to determine how much traffic and conversions you can manage is the first step to determining what you can invest in.
What do you afford to invest in the long term
The greatest benefit of the SEO method is that it will run for a long period. The most difficult part of the SEO plan is that it can take a few months to begin. SEO isn’t as effective as paid advertisements which show conversions within just a few days. With SEO, you’ll be able to tap into your inner guru as you await the results within a couple of months.
That means you must invest the amount you can pay for and sit and realize a profit.
You can put up a $1,000 investment through paid advertisements and start seeing the results in one or two weeks. However, when you use SEO, your investment of $1,000 will not be returned to you for two weeks. It’s not a good idea to put in more than you can do while you wait to see it return.
For a full-time seasoned SEO professional, Glassdoor estimates an average salary of $46,658; however, based on experience and location, the salary will (of course) likely be different.
If you’d rather hire a freelancer or an agency to work with, it isn’t a good idea to employ anyone for less than $1500 per month. If your business is generating seven figures or more, searching for a company that is priced higher is recommended.
Therefore, if you contract with one of the SEO firms and then pay $1,500 a month, you’ll expect to receive your cash for a couple of months. To be more conservative, we’ll say you don’t make a profit from your SEO approach for four months (which is the norm). This means that you must spend $6,000 to get that return.
Does that make sense for your company at the moment?
If it’s true, we’ll explain how to decide whether to employ a part-time worker, freelancer, or agency in the following.
If there isn’t a solution, don’t worry. You can return to your SEO strategy once you are confident in investing a minimum of $6,000 in SEO before seeing a return on investment.
Is hiring an in-house employee, agency, or freelancer logical sense
The hiring of an SEO specialist is available in three kinds:
You invite a full-time person to your marketing department.
You contract a freelancer to assist your team with SEO
An agency employs you
What kind of hire you decide on depends on your company’s needs.
– For certain businesses, employing a full-time employee could provide excellent tax advantages and make excellent sense.
Working with a freelancer is a great fit for other companies because they are easily integrated into your team.
Other businesses also require an agency to provide maximum SEO assistance as they work on their strategies.
There’s no right or wrong choice for what you should do when hiring the SEO specialist(s). It’s all about what’s most appropriate for your company.
Here are some suggestions for whom you should employ depending on the needs of your business
You should employ a full-time Director of SEO when looking for an ongoing SEO strategy that lasts at least two years.
Hiring an independent SEO expert is recommended when you’re an e-commerce business that is small or a basic company (with only a handful of products), and only one SEO expert can handle all of the tasks required. They’ll work alongside your content team or outsource content creation.
It is recommended to hire an SEO agency when you are looking for a solid SEO plan, and you are prepared to cooperate with the agency’s workflows and procedures.
The Right Way To Budget for SEO
Budgeting your SEO strategy boils down to the financials of your company.
To determine how much you’ll be able to invest in SEO, Consider these three questions
Question 1: What does an SEO success tale look like for you?
Question 2: What can you afford to invest to achieve the long-term?
Third question: Does it make sense to use an in-house hire, freelancer, or agency?
That first page on Google has been calling you, and we’re sure your business could be able to get one of those highly sought-after spots.
All it takes is the correct SEO strategy, derived through budgeting and collaborating with the best SEO experts.