01 Aug How to Determine the ROI for Your Website’s SEO Campaign
Launching a new SEO campaign can be an intimidating task. There are a lot of moving parts when it comes to website SEO, and in order for a campaign to reach its full potential, all parts have to be in place. However, this can be accomplished, especially if you go about it with some care and consideration.
However, it’s important to know that there are some costs involved. SEO campaign costs can become expensive, depending on how far you want to go with it, but it’s also an investment that can pay off. How much you choose to spend should depend on your comfortability, budget, and market competition. A reputable digital agency will work with you to find a SEO package that fits well with your needs.
How to Calculate the ROI of Your Website’s SEO Campaign
Regardless of how much your spending on your website’s SEO campaign, it’s important to know what kind of ROI you’ll be receiving. While there is no guarantee on the ROI of an SEO campaign, as with the rest of marketing, with enough research, you should be able to develop a general idea of what to expect.
There are many methods for estimating the ROI for a SEO campaign. In this article, we’ll go the approach that we like to use here at Creatitive, and provide some insight into what each step generally looks like.
Step one: Estimate your potential site traffic.
The first step in the process is to look at the site traffic of your top ranking competitors so you can gauge an idea of what to expect in terms of your own site traffic. Pick a few keywords related to your services to get an idea of their monthly search volume. Multiple the search volume by the average click through rate for your competitors. This should give you an idea of what kind of traffic you can expect to have once your keywords and SEO strategy are in place.
Step two: Estimate the expected revenue.
Once you’ve gained an idea of what kind of traffic you can expect on your site, you can estimate how much revenue a SEO campaign will produce. First, you need to determine the conversion rate for your site. You can get an exact conversion rate for your site using Google Analytics. Otherwise, use a 2% conversion rate for an e-commerce site and a 5% conversion rate for a lead generation site. Next, figure out how much money you make off an average sale and what your close rates are on leads.
Once you have these figures, all that’s left to do is some simple math. Multiple the number you obtained for monthly site visits by the conversion rate, then by the close rate. Finally, multiple the product by your sales average. The number you end up with is roughly how much you can expect to profit from a successful SEO campaign.
Step three: Factor in the cost of service.
Now that you have an idea of how much you can expect to make from an SEO campaign, all you have to do is calculate in the cost of service. ROI can easily be calculated by dividing the benefit by the cost of investment. Divide the number you obtained for your estimated revenue by the cost of the campaign. (You can get quotes for campaign costs by contacting a few digital agencies.)
It can also be useful to have a timeline for your return. It’s important to understand that SEO takes time, and that results tend to vary based on industry and market. However, generally, most sites start to produce conversions around the 6 month to 1 year point. This can require a large amount of patience on your behalf. However, once a solid strategy is in place, conversions can, and usually do, happen on a more frequent basis.
Get Started on a Campaign
If you’re struggling with bringing in leads or aren’t getting enough page visits to your site, it’s likely that your website needs some SEO work. An effective SEO campaign can make the difference between night and day in terms of site traffic and is a worthwhile investment. If you’re interested in starting your own website seo campaign or would like to know more about how to make a website seo optimized, we would love to hear from you. Give us a call or send us an email to schedule a time for a free consultation.