SEO Pricing – What Does SEO Cost in 2024?
Editor’s Note: This post was originally published in March of 2020 and was updated in January 2024 for accuracy and comprehensiveness.
An online presence is essential for any business in 2024.
The internet presents a world of possibilities that simply didn’t exist 25 or 30 years ago.
But to tap into the online world’s massive customer base, your business must first be found.
Remember, you could have the most exceptional website in the world, but if customers can’t find it, you won’t generate leads or make any sales.
So, how can you make it easier for potential customers to find you online?
Search engine optimization.
We like to think of SEO as a marketing superpower. When done correctly, there’s no better way to get your business in front of customers.
But how much does it cost to run an SEO campaign in 2024? Is it worth the money? And most importantly, what kind of return on investment can you expect?
In this article, we’ll break down the basics of SEO, why it’s so valuable, and what you can expect to pay for it in 2024.
What is SEO?
SEO is an ongoing process of improving your website’s ability to rank prominently for relevant queries in search engines like Google.
When someone Googles something related to your brand, product, or service, you want to show up. By using search engine optimization, you will.
Since Google accounts for over 90% of the worldwide search engine market share, that’s the service we’ll be focusing on today.
Of course, both Bing and Yahoo are great, and you should take their algorithms into account. But Google is the big dog in the search engine yard.
Unfortunately, Google doesn’t do you any favors if you’re not at the top of the search results. The average top-ranking organic result enjoys a 22.4% click-through rate. Meanwhile, fewer than 1% of searchers click a result on the second page.
The lesson? You need to optimize your site if you want to be found.
SEO makes it easier for Google’s search bots to discover your site and determine its relevance for specific search queries. SEO consists of three central pillars: on-page SEO, off-page SEO, and technical SEO.
On-page SEO
On-page SEO involves optimizing various elements of your website for search engines.
This includes strategically incorporating keywords into your page content, titles, meta descriptions, and headers. Of course, these keywords shouldn’t be picked out of a hat. They should be based on thorough keyword research to ensure you’re targeting relevant terms that people are actually searching for.
It is also important to incorporate keywords into image titles and alt text since Google’s bots can’t interpret images themselves. They know that the image is there—they just don’t know what it is. So, if you have a photo of a sailboat on the page, adding ‘sailboat’ to the image title and alt text lets Google understand the content of the image.
Crosslinking between pages on your site is another essential component of on-page SEO. Creating a network of internal links makes it easier for users and search engines to navigate and helps to distribute valuable link equity (ranking power) throughout your site.
Lastly, effective on-page SEO involves regularly updating your website content. Non-stop competitor activity and ever-evolving search engine algorithms mean staying static is not an option. To maintain and improve your rankings, you need to keep content fresh, relevant, and aligned with current SEO best practices.
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Off-page SEO
Off-page SEO refers to actions taken outside your website that nevertheless impact its search rankings.
The main consideration for off-page SEO is link building. Acquiring high-quality links from relevant and reputable websites lets Google know that your site is credible and worthy of a place in its search results.
Building a strong backlink profile is one of the most challenging aspects of SEO. But the effort is worth it. Around 68% of SEO experts say that building links from other sites positively impacts rankings and traffic.
Another vital piece of the off-page SEO puzzle is bolstering your online presence and reputation through social media. Active and engaging social media profiles, linked to your website, generate buzz around your brand and can contribute to your overall SEO efforts.
Technical SEO
Technical SEO encompasses optimizing site performance and other backend elements to improve your website’s crawlability and user experience.
One of the biggest technical considerations is to ensure your website loads quickly and works equally well on mobile and desktop. Keep in mind that 63% of organic traffic in the U.S. comes from mobile devices. Also, Google now uses the mobile version of a site to determine search result listings. So, if your site isn’t mobile-friendly, you’ll miss out on rankings and traffic.For more information about how you can learn more about SEO, click here.
Do you need SEO?
You absolutely need SEO if you want to remain competitive in today’s digital marketplace.
As we’ve already mentioned, ranking on the first page of search results is vital in order for potential customers to discover your brand online.
The better you rank in the search results, the more organic traffic you’ll attract. This means more leads, more conversions, and more profit.
You should make it a priority to rank among the top results for the most relevant keywords associated with your business.
Why? The potential for a return on investment is enormous. That’s probably why 49% of marketers believe organic search is the most profitable channel they use.
Organic search also drives over ten times more traffic than organic social media.
Of course, social media is essential, and you still need it to be successful. But it’s a piece of the overall marketing puzzle. SEO is a bigger piece.
As you’ve seen, a lot goes into making SEO a success. So, unless you’re an expert or have a dedicated team of search specialists in-house, we advise against running an SEO campaign yourself. Instead, it may be worth hiring the services of SEO specialists. But first, you need to understand what you should be paying.
What should you spend on SEO services per month?
Before you start shopping around for suitable SEO providers, you first need to develop a smart budget tailored to the specific needs of your business.
What’s suitable for one company might cause ruin for another. How much you can afford is all determined by your specific business circumstances.
However, as with most things, there’s a “you get what you pay for” reality to SEO services.
If you come across an SEO firm that significantly undercuts its competitors, don’t be fooled. Discount SEO services are often too good to be true.
So, what can you expect to pay per month for SEO in 2024?
A recent study by Ahrefs found that 68.8% of SEO providers charge less than $2,001 per month for their services. Around 20% of providers charge somewhere in the $501 to $1,000 range.
These figures closely correspond to results from a separate study by Backlinko, which found that the average cost of a monthly SEO retainer is $497.
However, the same study found that companies that spend more than $500 per month on SEO are far more likely to be satisfied with the service than those spending less than $500 per month.
As we’ve already hinted at, smaller discount SEO firms tend to cut corners. They typically use “black hat SEO” tactics or fail to devote the necessary time and resources to your campaign. When that happens, it’s like you’re throwing money in the trash. What you initially think of as affordable SEO turns out to cost you more in the long run.
So, a typical SEO budget falls anywhere between $400 and $10,000 per month. Again, this is subject to the size of your business, the amount of competition you have, and the level of service you need.
You should be suspicious of any SEO agency or freelancer that offers the same flat rate for all their clients. The scope and price of every SEO program should be based on the client’s individual needs and objectives.
One other thing. It’s important to remember that SEO is not a one-time cost. Unfortunately, you can’t just do SEO for six months, reach the top of the search results, and then put your feet up.
SEO is an ongoing process. It never stops. You rise to the top and then defend your ranking. Remember, you have competitors out there, and they are all gunning for the top of the search engine mountain.
Since 2009, we have helped thousands of businesses grow their online leads and sales strategically. Let us do it for you!
What’s included in SEO services?
Typical SEO packages from agencies are composed of several work streams. And suitable firms should be adept at each of them. So, when seeking out potential candidates, ask them to explain how they approach these different aspects of SEO.
Social media optimization
Around 77% of businesses use social media to reach customers and distribute content.
Social media is one of the best avenues for link-building. The more content you share, the more likely other people will share it too.
Content marketing
Content marketing is at the heart of SEO.
Content marketing focuses on developing high-quality content to help you rank for relevant keywords and drive conversions from your visitors.
Conversion analysis
You have to understand where you are to better determine where you have to be.
By analyzing your conversion rate, you can better get an idea of how much organic traffic you have to draw in using SEO in order to achieve your goals.
Link building
We’ve already mentioned the importance of link-building for SEO. But acquiring high-quality backlinks is easier said than done.
Technical optimization
The backend of your site has to be optimized for SEO as well.
Technical issues are usually discovered during an initial SEO audit, which is typically included in a full-service package. This audit will evaluate the current state of various technical elements, including page speed, page experience, website architecture, schema markup, and more.
Local SEO
If your business operates within a specific location, general SEO isn’t enough.
You don’t just want organic traffic to your website. You also want customers in your local area to visit your store or use your services.
Modern consumers increasingly turn to search engines to find businesses in their own neighborhoods. In fact, 77% of consumers use search to find local business information.
This is where local SEO comes into play.
Local SEO is a set of techniques designed to put your company’s website or business information in front of local search users.
Even small changes can make a big difference. For example, 60% of smartphone users have contacted a business directly from the search results page. So, ensuring your phone number appears in your Google Business Profile is just one example of a local SEO tactic.
What is the typical SEO pricing model?
There’s currently no industry standard for SEO pricing among agencies. It’s up to the consumer to decide if an SEO consultant’s price model is fair and fits into their budget.
That’s why it’s important to create a budget with return on investment (ROI) in mind. Before you enter into an SEO contract with all the bells and whistles, make sure you’re confident it will pay out more than you paid in.
Your overall SEO budget could be anywhere from $500 to $30,000, depending on how much work has to be done.
Here are the four most common payment models SEO agencies use:
1. Monthly SEO package
This is by far the most common pricing model for SEO providers. Around 78% of agencies, consultants, and freelancers charge a monthly retainer for their work.
When you’re putting an agency on a monthly retainer, you’re typically paying anywhere from $500 to $5,000 per month.
Under a retainer, you pay a monthly SEO fee for the services you’ve selected, which covers all the time your SEO agency dedicates to your campaign.
2. Fixed-price contract
This SEO pricing model lets clients pay for the specific services that they want. Fixed-price services vary from one agency to the next. For example, some agencies offer fixed-rate contracts for SEO content writing, typically costing anywhere between $0.15 and $0.50 per word. Site audits and link profile audits could cost between $500 and $7,500, depending on the size of your site. And social media setup services could set you back between $500 and $3,000.
3. Project-based pricing
Project fees are another common pricing model used by around 49% of SEO service providers for some or all of their work.
The great advantage of this model is its simplicity. Essentially, you’re paying a predetermined fee for ongoing custom services. Roughly 83% of SEO providers in North America charge over $1,000 for a typical project. So, depending on the level of service you need, you can expect to pay anywhere up to $50,000 per project.
4. Hourly rate
Hourly rates are considered consultation fees. Much like working with an attorney, the firm will keep a running log of the hours that they spend working on your SEO strategy. It’s not uncommon to see hourly pricing up to $300 per hour, with around 47% of providers charging between $75 and $200 per hour.
Whichever price range makes the most sense for your business, always remember that SEO takes time. Be prepared to wait up to six months before you start seeing a return on your investment.
What factors affect the cost of SEO services?
The price of SEO services is determined by a combination of factors.
It should come as no surprise that successful and experienced SEO agencies can charge more. The average SEO specialist who has been in the business for two years or less charges $79.37 per hour. That jumps to $118.35 for those with over a decade of experience.
It’s often worth paying a premium for the expertise of an established company. But make sure they have something to show for all that time in the industry. A successful SEO agency should be able to show you several success stories from previous clients.
A high-quality SEO firm will also have a solid reputation. So, take your time looking through reviews and pay attention to agencies that have won industry awards.
The scope of the SEO project also matters. Does your website have thousands of pages (common for ecommerce sites) or just a few? How much new content do you want to create? And what’s the current state of your site’s backend? If you’re only looking for on-page optimization, your SEO package will probably be cheaper than one that also includes technical SEO and link-building.
Finally, your industry and the strength of your competition also affect SEO pricing. If you operate in a particularly competitive environment, the scope of your SEO program will need to be bigger.
In conclusion
When it’s time to write a check for your SEO services, it’s important to remember that you’re making an investment that could shape the future of your entire company.
That’s why, before you make that first payment, you should have a strong understanding of SEO pricing models and what you get for your money.
You should also be able to identify the various ways that most agencies price these services and be wary of anyone charging well below SEO market rates.
By keeping all of this information at the forefront of your mind, you’ll be able to develop a realistic SEO budget and ensure your SEO program delivers consistent results indefinitely.
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