If your business is like most, you’re constantly making decisions related to money. Is it worthwhile for the business to spend this money? Can the business afford it? What do we get in return if we spend?
You also understand you won’t be much of a business if you don’t have customers and clients coming to your door, which is why you do marketing. Have you ever wondered if the cost of working with a marketing firm is worth the return you get from it?
So much of marketing is now done with SEO companies who will work to market your business and online presence. So, how much do SEO companies charge?
As a business, you might really be wondering if the cost of the marketing will be worth the return you get from it. Read on to learn more about getting the very best return on your investment from your marketing firm and what it will cost you in the process.
What Is Marketing ROI?
Marketing ROI is the measurement tool used to calculate the profit, or return, that’s earned from a specific campaign.
Return on investment is basically calculated by taking the amount spent on a marketing campaign and subtracting it from the amount gained, then dividing by the amount spent to come up with a basic ROI.
Some marketing campaigns are easier to track than others. Your SEO company should show what analytics they will use to provide you with that important ROI information.
Know Your Goals and How to Measure Them
A successful marketing campaign will rely on a few important factors.
The client needs to have a clear idea of their goals and what they wish to accomplish through the marketing campaign. Then the SEO company developing the marketing should work with the client to develop the key performance indicators that’ll be used to measure the campaign’s success.
The key performance indicators will be used as quantifiable measurement tools to understand and measure the success of the marketing campaign.
These indicators should be used before, during, and after the campaign for measurement. The KPIs used might not all be needed to measure ROI, they can also be used to guide the campaign.
Once a client works with an SEO company to develop their goals for a campaign and what KRIs will be used, they can also better delve into the costs it will take to implement the campaign successfully.
A client and their marketing agency should also agree on a ROI threshold. The ROI threshold should be the minimum expected ROI the campaign produces.
Of course, as a business you need to consider the cost of hiring an SEO company. What do SEO companies charge and will that cost be worth it?
Any qualified SEO company will be able to provide the needed analytics to prove the marketing their doing is paying off. You should expect them to show you how the marketing strategies they’re implementing make a difference in your business.
Yet, when you consider the opportunity cost involved, the real question is can you afford to not hire a marketing firm for your business? While cost is important, you must also consider what your business loses out on when you don’t hire a marketing firm.
Everytime someone hops on Google and does a search and your business doesn’t rank well in the search results, you could be suffering. The truth is someone gets on a search engine looking for information on a business and your business isn’t ranking, they are choosing someone else. This is a loss for you.
Can you afford the opportunity cost of not hiring a marketing firm?
Cost of Hiring an SEO Company
As you consider hiring a marketing firm and look at cost, you need to have clear goals in mind. What do you hope to accomplish through this marketing? What services do you want the SEO company to provide for you?
Most SEO companies have pricing packages based on your specific goals and needs. You may have one goal in mind to start or want to work on a series of marketing goals. Find a company that will design a plan and spell out its costs for you to meet your objectives.
Let Local SEO Search Get Your Marketing Started Today
While anytime you hire someone to provide you with a service, there’s a cost, the real question here is if you can afford to not hire someone for your SEO and marketing services. Your ROI will far outweigh your cost.
If you’re hoping to start a new marketing campaign for your company, we can help. Contact Local SEO Search for a free consultation and let us help you get your marketing campaign started today.