Does SEO Even Work for Small Businesses?
Have you been wondering if SEO works?
Short answer: YES it does work!
But are you equally interested in how much SEO can generate in revenue for your local business?
Well, I’ll let you in on a little secret. I have no clue how much money your business can make from search engine optimization. But its more than $1.5 million.
Getting to $1,500,000 is a difficult task. Surely, I have something up my sleeve, right? Nope!
Why is SEO important to your business?
Because it generates traffic to your business!
How many leads, and how much money you can generate from that traffic depends on a few things like:
- Your product and service (one time sale or recurring revenue?)
- Your infrastructure (can your business scale?)
- Your ideal customer (do you sell locally or globally?)
Here’s what I’ve learned about monetizing traffic for my clients over the last ten years.
Don’t look at SEO as a marketing expense, which it can be – but look at it as a long term tax deductible business investment that can deliver lucrative ROI’s.
This can be achieved when looking at your ROI over the life of the business.
The only limiting factor for earning extra revenue with this concept is how many new costumers do you want, and how much do you want to charge?
For the sake of simple math I have kept our new customer acquisition goals well below average at 0.83 per month.
How To Make $1.5 Million with SEO
The goal of my artile is building my point around acquiring 250 new customers over 25 years. Each of those clients are worth $6,000 each. This is the minimum your business would need to make $1.5 million dollars in additional revenue.
Considering 81% of shoppers conduct online research before buying that shouldn’t be an issue.
- 250 Clients @ $6,000 each = $1.5 million
If you don’t want to read on that is how you achieve $1.5 million with SEO.
Potential Value of SEO
Since I am talking about consistent long term growth, i’m going to use a service business as a working example.
Here is a look at what your client lifetime could look like. For the simplicity of math I have kept it simple.
Again, your customers could be worth more or less. But for the sake of math I have kept it simple.
- 1 New Client @ 100mo = $1,200 Year x 5 Years = $6,000
- 10 New clients a Year @ $100mo for 5 Years = $60,000
- 10 new clients every year for 25 Years = $1,500,000
Well, thats the math on how SEO could earn your business $1.5 million in new revenue. Sorry, I was an English major, so fancy equations are not my thing.
But I have clients who generate more than 100 new customers a year through SEO. How much is SEO worth to your business? Find out below!
SEO Tips to Reach Your Goal
1. Know Your Customers Lifetime Value
Not all companies are created equal, finding that number is different for every business.
Some of my clients, like attorneys, doctors, flood restoration, home inspectors and home remodelers to name a few make a one time sale.
My other clients like pest control, landscaping, pool cleaning, ac repair, or any business model might have the same customer for an extended period of time.
But the important takeaway is figuring out your clients potential lifetime value.
So what exactly is CLV? Here’s a basic definition from Harvard Business Review:
The amount of profit your company can expect to generate from a customer, for the time the person (or company) remains a customer (e.g., x number of years). At its core, CLV is the present value of all future streams of profits that an individual customer generates over the life of his or her business with the firm.
2. Find the Best Keywords
Finding keywords are the highly profitable keywords that pertain to your industry vertical is important. With that information you will optimize your site for niche keywords and not just broad, popular terms, which are often too difficult to rank for, especially as a new business.
How to find profitable keywords
Step 1: Use a Keyword Research Tool: Discover keyword opportunities including less obvious terms that could potentially drive traffic and sales.
Step 2: Refine Your Keyword List: A list of keywords has no inherent value—they are, in fact, just suggestions. It’s what you do with your keywords that matters. So it’s key to refine your list.
Step 3: Determine How Competitive Your Keywords Are: Finally, you’ll need to analyze how competitive each keyword phrase is – evaluating your competition.
4. Learn About Local SEO
Practically any business can take advantage of local SEO’s benefits. As Google grows more sophisticated and users start demanding even more individualized results, the importance of local optimization will only grow.
Your location is the niche, and embracing that with your local SEO is crucial to pulling in more customers, because people make their local purchasing decisions based on one recommendation source: Google.
Four major elements of a successful local search campaign includes:
- Leveraging business listing portals
- Social media
- Consistent name address and phone number
- Your business website
By improving your local ranking in search engines, we encourage customers who are interested in what you have to sell find your business.
4. Find On-site SEO Mistakes
If you have read this far you are probably interested in improving your sites SEO. My number one SEO tip, find the mistakes on your site. This can be done by letting me analyze your site for free.
I’ll send you a handy checklist of issues you should fix, and chat bout how we can fix them.
Additional Resources for Improving Your SEO
If you are the DIY type, I have some additional SEO resources for your business to check out.
- Understand keywords
- Find good tools
- Improve your local visibility
- Understand search engines
- Understand domain names
What SEO Can’t Fix
SEO won’t fix your customer service! Poor customer service can equal lost revenue to your small business each time a client is not impressed with your service.
Before you begin investing in internet marketing make sure your business effectively handle the increase in business. Simple things like making sure your business phone has an answering machine can equal thousands of extra dollars in your pocket.
How SEO Mechanic Can Help
I help my clients by giving them their time back.
How much time are you wasting trying to learn SEO, and you even doing it correctly?
SEO Mechanic offers expert SEO services that deliver targeted traffic, and new leads.
If you have 5 (or more) employees, and annual revenue greater than $500,000, we might be a good fit.
Hopefully I’ve proven that over the life of your business, SEO can produce an amazing return on investment.
But only if your organization can land and keep its customers.
If your company is having SEO issues, site errors, or questions about leveraging search engine’s like Google, Bing and Yahoo, please send me a message.