An investment in search engine optimization is crucial because it brings traffic to your website and to your business. It’s an especially important marketing strategy for 2023, with a looming global recession and major disruptors in SEO creating barriers for businesses.
Key investments in SEO strategies and tactics will give entrepreneurs a fighting chance in a competitive market and small businesses an edge over big brands.
What Makes SEO a Good Investment?
The short of it is that SEO strategies get results, from brand awareness to sales. How?
Recent data on SEO shows the value of using this sales and marketing technique:
- Organic search delivers 53.3% of all website traffic
- The top 3 on Google’s results page get 54.4% of all clicks
- Some 39% of buyers are persuaded by relevant results on search engines
- Organic search, according to 49% of marketers, delivers the best ROI of any marketing channel
- 40% of revenue for brands in technology/internet, business services, hospitality, media and entertainment, and retail, comes from organic traffic
And here’s something else to consider when weighing your digital marketing options: SEO provides over 1,000% more traffic than organic social media.
So optimization gets people to your website and it influences their buying decisions.
But investment is only as good as its ROI, right?
6 Reasons Why Businesses Should Invest in SEO in 2023:
1. SEO Opens Up Lucrative Opportunities
Does SEO deliver ROI? Website traffic doesn’t always lead to a sale, an inquiry, or a signup. So it’s understandable that some businesses may still be on the fence about spending for SEO.
About 47% aren’t investing in this digital marketing technique. For entrepreneurs and small businesses that have limitations to their SEO and marketing, every investment must be justified by ROI.
Profitability from SEO depends on the people and tools you choose, and the content you generate.
For people, it’s crucial to choose SEO specialists, in-house or outsourced, who have delivered business results for other clients. You want marketers in your team who also understand your target consumers and your goals as a business. Both are essential to developing an effective SEO strategy.
Returns will vary, depending on your industry– in larger, more competitive industries where many companies are already doing SEO (like legal firms and contractors), you need to invest more to see results.
According to SmartInsights, the average return on investment from SEO sits at $22.24 per dollar spent.
That’s more than the ROI for banner ads, internet displays, and catalogs. In sales and marketing, the so-called golden ratio for returns is 5:1, which means getting $5 for every $1 spent.
See Also: Is SEO or PPC Better for Your Business?
2. Get a Competitive Advantage over Your Competitors
A return on investment isn’t the only appeal of SEO. An investment in optimization tactics provides an opportunity for your business to be more visible to potential customers than close to half of small businesses.
Only 63% of small businesses invest in this digital marketing strategy, leaving room for your business to fill unmet market needs. Even though SEO has proven long-term benefits for businesses across industries, some still hesitate to invest.
Much of the reluctance stems from the following reasons:
- Spending would be a waste since they’d be too late in the game, competing against businesses that have been optimizing for years
- SEO is considered a cost rather than an investment, and it costs too much
- Most businesses don’t know where to start with SEO
- Changes in SEO are hard to keep up with
The common denominator for all these reasons is cost. Although SEO — effective SEO — isn’t cheap, businesses like yours have pricing options, from project-based rates to hourly rates. Project-based SEO typically ranges between $500 to over $1000, hourly pricing usually falls at $100 to $150, and monthly retainers are generally at $500 to over $2000.
So whether or not the competitors for your niche are doing SEO, it’s still the smart move to make– if they’re not, then this is your chance to get market share and leverage the gap. If they are, then you can’t afford to get left behind.
When you work with the right SEO professionals or marketing firms, what you spend (or invest) will more than likely yield results. So the cost shouldn’t hold you back from using SEO as a marketing strategy.
3. SEO Improves Customer Service
Finally, optimization tactics for search engines allow your business to serve customers better. How does SEO improve customer service? It does so through improved online experiences on its website, social media pages, landing pages, and other online assets.
Search engines, most prominently Google, are focused on delivering better, more accurate results for all users. Algorithm changes are carried out to allow search engines to drive more value for searchers on their platforms and distinguish between what’s helpful and what’s not. This means making sure that the websites it ranks are reliable, updated, secure, and functioning well.
SEO tactics don’t just ensure people find your website and that it’s the right one they’re looking for; it’s also about making sure they find what they need while they’re on your site, from getting customer support to learning more about your products or services.
Through SEO work, your business:
- Uses the right keywords that target customers’ lookup and search intent
- Drives the right kind of traffic to different pages on its website
- Promotes your business through paid advertising while managing costs
- Creates and promotes valuable content that’s relevant to your customers
- Increases brand awareness and keeps customers informed on social media
4. SEO is an Investment That Pays Off
Every year, new technologies and market shifts pose new challenges to businesses. Preparation is key to overcoming these challenges, and an investment in SEO strategies is one way to minimize if not eliminate the impact.
SEO has proven effective for many businesses. It opens doors for lucrative opportunities. It keeps small businesses competitive. It strengthens companies against vulnerabilities. And it gives customers what they need when they need it. All you need to do now is to figure out which SEO tactics to invest in to meet your sales and marketing goals.
5. Builds Brand Awareness
SEO helps to build brand awareness by increasing the visibility of your website and creating content that is easily found by potential customers. By optimizing for keywords related to your industry and creating content around those topics, you are able to create value and establish yourself as an authority in your field.
6. Improves User Experience
Good SEO practices help improve user experience by ensuring easy navigation through your website, faster loading times, and a mobile-friendly design. This not only helps keep visitors on your website longer but also increases the chance that they will take action such as making a purchase or signing up for your mailing list. Optimizing user experience is an important part of SEO and can have a positive impact on rankings and conversions.
See Also: What Are the New SEO Trends for 2023?
All businesses, small or large, should prioritize SEO in their marketing mix for 2023. By staying up-to-date with the latest trends and best practices, you can ensure that your website will be visible to potential customers who are looking for your products or services online. And when customers can find you easily, they’re more likely to do business with you.
If you need help getting started with SEO, you check our articles on this topic. It will help you create a comprehensive SEO plan that will increase your visibility online and help you attract more leads and conversions.