Business

How Much Does SEO Cost in 2024?

August 30, 2024
judywatson

SEO is what links your business to most of your clients. The majority of businesses have monthly expenditures between $500 and $10,000, according to the Search Engine Journal’s State of SEO Agency Report for 2024.

The cost of SEO depends on several variables: pricing model, business size, location, goals and strategy of the models, etc. 

However, result-based SEO is the best option for those businesses that are looking to get a return on their investment in SEO.  

What is Result-Based SEO?

Result-based SEO is one type of SEO that focuses on generating measurable outcomes. This implies that you will only have to pay for SEO services that genuinely increase the visibility and traffic to your website.

Businesses hoping to get the most out of their SEO investment can find that result-based SEO is a terrific alternative. However, it’s crucial to collaborate with a trustworthy SEO agency that can offer you observable and quantifiable outcomes.

Is Result-Based SEO Worth it?

Yes, it is worth it for business costs. It serves as a strategic, fact-based structure for your company. Its only goal is to produce outcomes that have an impact.

You only pay for a pay-for-performance SEO model when the search engine rankings for your keywords increase. As a result, this data-driven strategy increases your long-term ROI while reducing risk.

  • You only pay after desired outcomes are attained.
  • No risks involved! See improvements before transferring funds. 
  • Just pay for observable results to keep spending under control.
  • Utilize precise metrics to monitor progress.
  • Obtain customized plans for predetermined outcomes.

Result-based SEO vs. Traditional SEO

Traditional SEO

 Pricing Pay Per Keyword
$1000 Month 1–0 0
$1000 Month 2-0 0
$1000 Month 3-0 0
$1000 Month 4-3 $450
$1000 Month 5-5 $750
$1000 Month 6-10 $ 1500
$6000 total

$2700

The cost can also change based on whether you decide to use a consultant, agency, or independent contractor. A consultant is a single expert who manages everything themselves, whereas agencies usually consist of a group of experts. Conversely, a freelancer usually concentrates on just one aspect of SEO.

What Factors Determine SEO Services Pricing

1. Pricing Model

For SEO services, there are several alternative pricing structures available, such as these:

  • Every month
  • Hourly
  • Single-time

Your SEO expenses will depend on your pricing strategy.

For example, you may pay less if you work with an SEO company on a one-time job rather than hiring them on an hourly basis to finish the work. What matters most in this situation is how you invest in SEO: is it continuous, one-time, or done only when necessary?

2. Result or Goal

The amount you pay for SEO depends on the results you expect. As an illustration, are you trying to:

  • Increase traffic in the following five years by 1%, 15%, or 50%.
  • In the following six months, double the amount of organic leads.
  • Obtain a page-one rating for every URL for a specific keyword list during the next two years.

You might require a competitive SEO bundle that gives SEO optimizations across your website top priority, depending on your aims. SEO companies may even state they won’t work with you if your goals are too lofty in certain situations.

3. Industry for Competitiveness

The degree of industry competition has a big influence on SEO prices. Industries with high levels of rivalry, such as finance or e-commerce, frequently face more intense competition to rank highly on search engines. 

This implies that companies that want to outrank their rivals must spend more on SEO. In these sectors, SEO tactics can incorporate more sophisticated methods, including content marketing, link building, and technological optimizations. The cost may vary accordingly for businesses.

4. Target Market

Your target market can also have an impact on SEO costs. Your SEO efforts can need to concentrate on a larger range of keywords and geographic areas if you’re aiming for a large audience. 

This can expand the reach of your SEO strategy and raise its price accordingly. On the other hand, focusing on a certain region or group of people can help you focus more narrowly and cut costs. 

However, even with a specific goal, good SEO can still require a comprehensive plan if there is significant local competition. 

What is the ROI of SEO?

Will the money you spend on SEO ultimately yield a return on investment (ROI)? Yes, in the case of the majority of businesses. To be sure, it is difficult to show this.

Let’s think about the figures. Backlinko’s data shows that the average business spends $497 per month on SEO. Nonetheless, studies reveal that customers who made larger purchases had a 50% higher likelihood of being incredibly happy with their outcomes.

Let’s say, for example, that your $20k SEO campaign brought in $100,000 in sales. To acquire $80,000, deduct $20,000 from $100,000, and divide that amount by $20,000 to get a ROI of 4. Put simply, that indicates that for every $1 you invested in SEO, you received a return of $4.

Wrapping Up

SEO costs can be high since there are a lot of variables that go into it, such as keyword research, link building, content creation, and more. All things considered, search engine optimization (SEO) can significantly improve your business’s online exposure and enhance conversions.

Read more: Performance-Based SEO Pricing Vs. Traditional SEO Pricing