Is SEO Worth It? Costs & Benefits Analysis

Many business owners remain unsure about the value of SEO.

Some see SEO as a cost-effective alternative to paid ads, bringing in significant traffic at a lower cost. Meanwhile, others view it as expensive and time-consuming, with uncertain returns.

So, is SEO worth it?

In this article, we explore the benefits of investing in SEO, as well as situations where it might not be the best choice. We also address common doubts about SEO and hiring an SEO agency. Our aim is to provide honest insights to help you decide if SEO is right for your business.

Let’s dive into the details…

The evolution of SEO: what it is and isn’t

With Google’s updates like Panda and Penguin, SEO has undergone significant changes over the years. Old tactics that once worked are now ineffective.

For example, years ago, you could manipulate rankings with keyword-stuffed, low-quality content. Today, Google prioritises quality content that meets its E-E-A-T criteria (Experience, Expertise, Authoritativeness and Trustworthiness).

Despite this, some companies still promise first-page rankings for a small fee – a massive red flag to keep an eye out for. This approach is outdated and risky. It may harm your site’s reputation with Google, which is critical to maintain.

So, what does SEO mean in 2024?

SEO is…

Focusing on strategic content marketing to ensure it aligns with user search intents and helping you rank higher on search engine results pages (SERPs).
Analysing technical aspects of your site such as enhancing website speed, mobile responsiveness and overall usability to provide a seamless user experience and meet Google’s standards.
Focusing on establishing your website as a credible source by earning high-quality backlinks from reputable sites in your industry.
Using analytics and insights to refine SEO tactics, track performance and adjust strategies based on user behaviour and search engine algorithms.

SEO is NOT…

Overloading content with keywords in an unnatural way that detracts from readability and user experience, rather than adding value – if you’re familiar with the term ‘keyword stuffing’, you’ll know what we mean.
Replicating content across multiple pages or websites to try to manipulate search rankings, which can result in penalties from search engines.
Neglecting aspects like site navigation, accessibility and mobile-friendliness, each of which can lead to higher bounce rates and lower search engine rankings.
Expecting immediate results from SEO efforts without understanding its long-term nature and the need for consistent optimisation and adaptation.

The benefits of investing in SEO services

Long-term growth: Unlike paid search advertising (PPC), SEO is a long-term strategy that continues to provide benefits over time. While PPC stops driving traffic once the budget is exhausted, SEO efforts compound over time and can lead to sustainable growth for your business. What’s not to love

Cost-effectiveness: While paid advertising can provide immediate results, it can also be costly, especially in competitive markets. SEO, on the other hand, provides a higher return on investment (ROI) over time as it generates organic traffic without the need for ongoing ad spend.

Credibility and trust: Users often perceive websites that rank at the top of organic search results as more credible and trustworthy. Think about it – you’re probably more likely to click a link at the top of page one of Google than scroll much further. By improving your website’s ranking through SEO, you can enhance your brand’s reputation and authority in your industry.

Targeted traffic: SEO allows you to target specific keywords and phrases identified through thorough keyword research that are important and relevant to your business. This ensures that you draw in visitors actively seeking products or services similar to yours. Such targeted traffic has a higher likelihood of converting into valuable leads or customers.

Competitive advantage: In today’s digital landscape, having a strong online presence is essential for staying competitive. Investing in SEO can help you outrank your competitors in search engine results, increasing your online visibility and market share.

How much is SEO worth?

Let’s delve into an example to illustrate some tangible benefits of investing in SEO for your business. Suppose your online business generates an average revenue of £200 per transaction, with 500 daily visitors to your website and a conversion rate of 3%. Without any SEO efforts, this translates to a monthly revenue of:

500 visitors/day 30 days 0.03 conversion rate * £200 = £90,000 per month

Now, consider the impact of effective SEO strategies that move your website from page two to page one in search results, potentially increasing daily visitors from search engines by 50%. This enhancement could result in:

750 visitors/day 30 days 0.03 conversion rate * £200 = £135,000 per month

This represents a monthly revenue increase of £45,000, or £540,000 annually.

Even with SEO costs typically ranging from £1,200 to £5,000 per month, the return on investment is clear. SEO not only justifies its cost but also drives sustained growth and profitability.

To gauge SEO’s impact on your business, input your own metrics into the formula. By understanding your current website traffic, conversion rates and sales values, you can assess how SEO can elevate your revenue by enhancing visibility and attracting more customers.

Is hiring an SEO company worth the investment?

In the vast majority of cases, hiring an SEO company proves beneficial if your potential customers actively search for the products or services you offer, or if they seek solutions to problems your business addresses.

When that’s the case, SEO helps your website appear prominently on search engines, capturing that interest and ultimately driving potential leads to your website.

However, the decision to invest in SEO services should align with your current business phase and financial resources. Below are some key questions you should consider before hiring SEO experts:

Before investing in SEO, ensure your website is SEO-friendly to effectively capitalise on your SEO investment. This means your site should load quickly, be mobile-friendly and offer intuitive navigation. These elements are crucial for building a strong SEO foundation. Without them, the increased traffic from your SEO efforts won’t convert into tangible results, making it challenging to justify the investment to your financial team.

A fast-loading site, for example, enhances user experience and so boosts Google search rankings. Meanwhile, mobile responsiveness is vital since most users browse on mobile devices. And intuitive navigation ensures users can easily complete desired actions on your site with minimal friction.

Lastly, your site should be easy to update, allowing you to add new pages, implement redirects and update sitemaps and metadata without hassle. It’s important to discuss with your development team the ease of making these necessary changes before investing in SEO.

If your site is a SaaS portal or has limited access, it’s good to establish a workable plan with your developers before starting an SEO project. Ensuring your website meets these criteria will better position you to see significant improvements in your rankings on search engines.

How is your business generating leads at the moment?

If your business is struggling to generate leads through existing digital marketing channels and expects SEO alone to solve this issue immediately, it may not be the right time to heavily invest in SEO. SEO typically works best when integrated into a broader marketing strategy that includes diverse lead sources, as it requires a longer timeline to produce results.

Without other lead-generation channels to support your SEO campaign as it gains traction, you might find yourself in a challenging position that threatens the stability of your operations. It’s crucial to ensure that your business has a stable lead flow from other sources before relying on SEO to drive significant growth.

Are you prepared to invest time and money into SEO? Unlike quick fixes, search engine optimisation is a long-term strategy. It typically takes between 18 months to two years to start generating substantial leads for your sales team, assuming you already have an authoritative website. While you might see improvements in keyword rankings and organic traffic sooner, SEO’s true benefits unfold over a longer period.

You can expect to invest between £1,200 – £5,000 per month in agency fees for a content marketing-based, sustainable SEO campaign. This investment is worthwhile if you’re aiming to transform your business and have long-term goals. However, if you’re seeking immediate results or quick fixes, SEO might not be the right approach. It requires patience and a commitment to ongoing effort to see meaningful SEO results.

Four common objections to SEO

Despite the evident benefits of SEO, businesses often hesitate due to several common concerns. If you’ve read this far and recognise that SEO could be valuable for your business but are still hesitant to take the final step and outsource SEO, you might be pondering some of these common objections. These examples are based on real feedback from clients who’ve been burned in the past and have valid reasons for their scepticism.

1. “SEO is too expensive”

One of the most common concerns is the cost of SEO services. Businesses worry that the investment might not yield a sufficient return.

However, when delivered properly, SEO can provide a significant ROI by driving organic traffic and generating leads without the continuous costs associated with paid advertising. It’s important to view SEO as a long-term investment that pays off over time rather than expecting immediate results.

2. “There are no guaranteed results”

Business owners often hesitate to invest in SEO due to the absence of immediate, guaranteed outcomes. We get it.

Indeed, the effectiveness of SEO hinges on factors like industry competition and current website performance.

Yet, a trusted SEO agency such as Scoot understands this reality. Our team will establish achievable expectations, offering a transparent strategy and timeline. While SEO can’t promise assured results, dedicated effort and expertise generally result in significant enhancements over time.

3. “I had a bad experience before”

Some businesses have previously worked with SEO agencies that overpromised and underdelivered, leading to scepticism. Which is why it’s so important to research and choose a reputable SEO provider with a proven track record. Look for transparency, realistic goals and regular reporting to ensure you’re getting the value you’re paying for. Past experiences shouldn’t deter you from experiencing the benefits of a well-executed SEO strategy.

4. “SEO takes too long to show results”

SEO is indeed a long-term strategy and many businesses feel impatient waiting for results. While it’s true that significant improvements take time, SEO efforts often lead to sustainable growth. Businesses that commit to an ongoing SEO strategy will eventually see a steady increase in qualified traffic, leads and conversions. Patience and consistency are key to reaping the rewards of SEO.

Partner with Scoot today

So, is SEO worth it? The resounding answer is yes – when approached strategically and with a long-term vision. At Scoot Digital, we’re dedicated to unlocking the full potential of SEO for your business. Contact us now to begin your journey towards measurable success with tailored SEO solutions.

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