Business owners all around the world face this question one way or the other, every day. The truth is most businesses are small startups that have a limited budget, and therefore their hands are tied when it comes to investing for a marketing / business promotion strategy. Nevertheless, there are always strategies you can apply that can help you boost your business and are cost effective too.
Setting a Budget
According to statistics, 70% of the small business startups have a budget of less than $100 per month for SEO. Keeping this in mind, your SEO budget can range anywhere from $49 to thousands of dollars per month, depending upon the size of your business, its capital and the revenue it generates. The more committed you are to improve your digital marketing strategies, the faster you can anticipate the desired results. Nevertheless, SEO is a process and so, it takes time.
Defining a Budget
There are five main types of Digital Marketing; Search Engine Optimization being one of them. Defining your budget requires you to recognize your business goals. Following are the questions you need to ask yourself before allocating a budget for your SEO business needs:
- How long has your business been on the web?
- How much traffic do you have at the moment?
- Are you on the Google Top Ten List?
- What is the keyword competition in your business?
- How much do you think your competitors are investing in SEO services?
Once you have the answer to all of the above questions, you will get an idea of how much budget to allocate for this. There is nothing precise when it comes to how much your budget should be. What works for one business might not work for another. Make sure your focus is on long term results rather the budget itself.