You want to get the best exposure possible when running a successful business online. However, many companies don’t know much SEO budget they need to set aside in order to start seeing results and a positive impact on their ROI.
And it’s not only about how much – it’s also about where to spend it as well. Should you only invest in technical SEO fixes such as adding meta titles and descriptions, boosting up website speed, or fixing broken links? Should you invest in a content SEO strategy instead – or maybe even both? Additionally, some companies invest in off-page SEO as well.
SEO – Search Engine Optimization – is an excellent way to get more business and boost profits. SEO works by helping customers find your site when they search online. The process requires constant care and attention, but it doesn’t have to break the bank.
Let’s discuss how you can get started with Search Engine Optimization, as well as the factors that play a part in determining the right SEO budget for your company and your specific needs. Determining your budget will be essential for selecting the right SEO agency in Bulgaria and figuring out if the cost of SEO in Bulgaria is actually worth it, and whether it’s going to meet your expectations.
5 Key Considerations While Calculating For SEO Budget
1. The size of your business
It is essential to check the size of your website before calculating the amount of SEO budget that you would like to allocate for SEO purposes. Bigger websites typically have more pages that need to be optimized, generally face more technical issues, and it’s easier to lose track of rankings when you have a lot of content that you need to constantly monitor.
When it comes to evaluating the size of the project based on how big your company and website are, SEO agencies will look at:
- Number of pages
- The amount of time the website takes to load
- The number of keywords on the page
- Technical issues that need to be fixed
- Domain authority of the website
You can’t expect an SEO budget for a website with 3000 pages or more to be the same as one for a website with 300 pages.
Larger businesses often spend more than smaller ones for search engine optimization services. The reason is they have more funds and tools at their disposal. Likewise, larger businesses often face greater competition, making search engine optimization (SEO) spending a must.
Keep in mind that an SEO budget is often based on an hourly rate, so the more pages there are to optimize, the higher the budget has to be. Compared to other types of websites, blogs require less work in terms of data and content generation. But a blog could also require a lot of time and effort to manage comments.
So you have to take this into consideration while planning for your SEO budget. Also, ensure that you do not include any additional pages on your site that are not related to SEO.
2. Competition level and targeted traffic
Your website’s competition level will play a huge role in calculating your SEO budget. It is essential to calculate the amount you will need to spend so you don’t end up going overboard.
You must know what kind of competition you face. If you are competing in a specific industry or niche, it is essential to understand the amount of money spent by others in that field.
If you want to make a profit or gain more traffic to your website, this must be included in your SEO budget. You can always calculate for more or less if you want to.
There are many ways to measure this. But some include checking out the number of competitors and their rankings in the SERP (search engine results page). If they have thousands of backlinks and a high page rank, you can expect that their SEO budget will be increased.
On the other hand, if you compete against a bunch of websites, it might not be possible to gain any traction.
If you invest a certain amount of money in SEO, you might want to focus on getting more traffic to your website. The more traffic you get, the higher you will rank on SERPs. And if your website ranks higher, it means more potential customers for you.
Therefore, you should not spend money on anything which will not yield good results. If you have some competitor analysis done for you, you can use this information to plan your strategy.
3. Geographic location
When it comes to search engine optimization (SEO), a company’s budget may go up or down depending on where its headquarters are located. For instance, the cost of search engine optimization (SEO) services might be more for urban than rural enterprises.
This is due to the fierce competition for online exposure in busy urban centers. Additionally, metropolitan regions have a more expensive cost of living, which drives companies to raise prices in order to remain profitable.
If you’re hoping to get a high search engine ranking in more than one geographic area, you’ll need more content and more keywords. Plus, this might raise the cost of your monthly SEO service by a few bucks.
It is possible for SEO costs to skyrocket if you go for highly competitive regions. Your business’s nature will determine whether you focus on a local or international clientele. The costs of local SEO services are often far lower than those of national or international campaigns.
On top of that, local SEO often takes less time to see results than its international counterpart. As a result, implementing local SEO strategies is recommended as a way to boost sales. As it turns out, 72% of those who do a local search end up at a retailer within 5 miles.
However, the price of a national or international SEO service might be double that of a local one. In addition, ranking for international keywords and attracting targeted visitors is time-consuming and labor-intensive. The total price of search engine optimization services varies widely by geographic target.
On average, search engine optimization (SEO) specialists that aim for the global marketplace demand a monthly maintenance fee that is 150% more than their local ones.
4. Your current online visibility
According to estimation, there are around 40,000 search queries in one second. This means that if you make just a single change to a page, it will take at least four seconds to show up in search results.
If you want to know how much money you will need to invest in your SEO campaign and SEO budget, you first have to determine your online visibility level. It’s a good idea to do this before you begin investing in SEO because that’ll give you a sense of the progress you will make with your efforts.
You can do so by looking at your Google Analytics account to see the amount of traffic you currently get from search engines.
If you don’t rank well for any keywords your potential customers use to search for you, your chances of attracting new clients are low. Therefore, you need to prioritize SEO, implying that you must make a serious investment in your SEO budget if you want your business to be more visible.
Some people wrongly assume that optimizing a smaller website with fewer pages would always be quicker. To what extent, though, depends on the website’s technical status of your website. To what extent, though, depends on the website’s technical status of your website.
Web optimization specialists often advise making changes to the site’s structure and features. Sometimes, they may recommend starting again with the site’s development. This generally happens when the error is too much to be rectified.
Conversely, the process of fine-tuning a bigger site is often more time-consuming and intricate. It’s because of the extensive content and intricate organization of the site. It might add or subtract a few thousand dollars from the monthly SEO budget costs.
5. The SEO Agency you choose
The price you’ll pay for an SEO analyst’s help is directly proportional to his level of expertise. Search engine optimization (SEO) professionals with greater expertise often charge more per hour than their seasoned colleagues.
Search engine optimization (SEO) experts with more than two years of expertise often charge 40% more hourly rates than those with less practice. The price also jumps by 275% for special projects.
Someone with less experience might give you a cheaper rate per hour. But, on the other hand, he may need more time to do the same job. However, a specialist may do the same activity with praiseworthy proficiency in less time.
Whether to choose a freelance SEO expert or an established SEO firm is another crucial option to consider.
For the same SEO package, a freelancer usually offers a far more affordable rate than an SEO agency. But in most cases, they won’t hold themselves accountable or provide consistent help. On top of that, not all service providers provide the same level of support even though they claim to offer the same range of services.
Receiving premium service is a better option than cutting costs here. Attempting to save money on your SEO budget at the beginning may look good, but ultimately it would cost you much more in the long run.
The SEO budget calculation should consider how experienced the agency is and its track record. You can also view which SEO techniques and processes they prefer to use to ensure you get more than just cheap service.
SEO is one of the major tools that businesses use to increase their profit. However, wrong SEO budget estimation could lead to failure in achieving desired results. So make sure you know your target before beginning with the project.