How much do you invest in SEO each month and how do you evaluate the value of your investment?
If you want your site to rank high on Google searches and attract potential visitors and businesses, you need to invest in SEO. And since many companies say they don’t invest in SEO campaigns, even if it’s a small optimization, you will remain with many of the opponents.
To get the most out of your spending, think of the basic formula for your SEO return: SEO profit – SEO cost ÷ SEO cost = ROI.
What you spend and what you earn on your site depends on several factors, including these:
- Type of Company
- Business size
- Competition size
- Site size
It is essential that all companies understand how to calculate the ROI of their SEO campaigns based on KPIs.
What is an SEO campaign?
There are two main types of search engine optimization: on-page optimization and on-page optimization.
Page optimization is the process of improving the online visibility of a single page, with well-researched keywords in the content and HTML source code.
Off-page optimization increases the visibility of a page or website through links to websites and other signs that appear in places other than the website, such as social media activity, advertising, and other promotional methods.
How does an SEO campaign work and how much do you have to pay?
The cost of your campaign will depend on the experience and knowledge of the person or company that performs the SEO. The success of the campaign depends on the skills of that person or company.
So, how much do you pay to do them?
- Find the best keywords and the corresponding long-tail keywords for your business
- Structure your website around these keywords in a way that is suitable for your potential customer
- Formulate content strategies to increase engagement and sales
- Get visitors from your competitors
- Check your website traffic for broken links and slow pages
- Stay up to date with new algorithms that can reduce your traffic
Finally, hire an SEO expert to put your site on top of Google’s search pages so you can make more money. Who you choose to do the job depends a lot on your budget. If you choose someone who will offer you to run your SEO for $ 100, your ROI will reflect that price. As you say, you get what you paid for.
How do you define and measure ROI?
The following are common methods for measuring SEO ROI:
- Actual sales or orders from your e-commerce site
- Click-through rates
- Affiliate revenue
- Number of visitors to your website
When investing in SEO, you need a Google Analytics account linked to your website. This is a free but valuable tool that provides insight into the success of your SEO efforts.
To calculate your return on investment for Search Engine Optimization with Google Analytics, you need to (1) set up tracking and (2) monitor your website’s sales or traffic. You can then use the data collected to achieve the ROI.
Set up success tracking
A conversion occurs when a visitor to your website becomes a customer. A customer is anyone who buys something on your e-commerce site or on an affiliate site that you refer.
Go to your Google Analytics account home page to set up Google conversions. In the left panel titled Reports, click the bottom option, Conversions.
Monitoring E-commerce Sites
To determine the SEO return on an e-commerce site, you can track earnings directly from the site account, or you can track sales and site visitors by enabling e-commerce in Google Analytics.
To track visitors, you must have a standard page tracking code on your site. If you’re using a third-party shopping cart, such as PayPal, you’ll need to set up cross-domain tracking to track your site visitors and the shopping cart.
After adding tracking to your site, you can track visitors, conversions, and sales in the Analytics dashboard by going to Conversations> Ecommerce> Overview.
Your website’s revenue doesn’t have to be just about sales. It can also refer to other goals. For example, you want 100 people to sign up for a newsletter, or you can target 50 people to watch your video on YouTube. These are indirect sales goals that attract visitors who may eventually become paying customers.
Monitoring lead generation sites
If the site you’re optimizing is generating leads instead of sales, you can still assign a monetary value to your conversion goals based on your past sales history. For example, if 50 of the 100 people who signed up for your newsletter purchased a product and earned $ 10 for each sale that would mean that the 50 people earned $ 500 in sales.
Create goals for the highest generation sites by going to Administration> View> Goals in Analytics. A monetary value can be assigned to several parameters:
- Sending contact forms
- Request a quote
- Phone calls
- Email requests
Estimate your average conversion rate using relevant goals in Analytics; then, set goals to improve each conversion rate.
After about a month, the statistics should show how much your website is earning and you can calculate your ROI.
Let’s say you paid $ 10,000 to optimize your website and generated $ 2 million in sales. Use the formula above: Website profit – SEO cost ÷ SEO cost = SEO ROI.
So, in this example: 2,000,000 – 10,000 ÷ 10,000 = 199. Multiply that number by 100 to get a percentage – in this case, 19,900%.
And here it is. The conclusion is again that a small degree of optimization can generate significant returns.