When it comes to the marketing budget, most business owners have heard of the 5% rule.
But times have changed.
This 5% refers to all marketing costs, including PR, promotional material, and digital marketing. But, see, digital marketing did something in the last few years—it dominated the marketing landscape. Nowadays, virtually every business, small to large, needs a digital marketing strategy to build brand awareness, gain customers, and stay on the radar. And nothing does this better than SEO.
The question is not how much should you spend on your overall marketing, but how much should you spend on SEO, and what is the average cost?
SEO is not black and white. There are a number of factors to take into account when you’re estimating your SEO strategy cost, like where your business currently stands and your short-term and long-term objectives.
The first step is to get an audit of your website for some key information. To create an SEO strategy, you need to know where your site stands in the search rankings, what issues are influence your site’s ranking position, and how to proceed to improve it.
Your Timeline Plays a Huge Factor
SEO doesn’t give instant results. It takes time, and when done right, the process is a continuing effort. It evolves with the changing algorithms and changes with your site’s growth, so the timeline is not the same for everyone. Keep in mind SEO involves:
Market and competitor analysis
On and off-page optimization
Lots of content
Average Agency Costs and How You Should Budget
SEO services usually go by either hourly or fixed monthly rates. Hourly might be more suitable if you don’t require the full A-Z service; for instance, if you’ve already got the keywords implemented but you need to up your link-building game, this would be ideal. The average hourly rate in Toronto is $150 per hour, but prices can also reach $300/hour.
Most agencies and professionals operate on a monthly cost-basis because they’re used to dealing with larger SEO campaigns and long-term collaborations, which tend to yield greater results. Monthly costs can range anywhere between $1000 and $3,000/month, depending on the scope of the project. But can you really put a price on gaining new business? If you consider the ROI that SEO brings, SEO services should never be viewed as an expense or a loss. It’s an investment—one that will generate tremendous results when done right.
We’re Your Guys
Ready to talk strategy? Awkward Media is a leading SEO company in Toronto. We help any-sized business grow in rankings using up-to-the-minute SEO strategies. Give us a call at 647 849 1082or get in touch with us to start improving your business’ online visibility.
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