How Much Does SEO Cost in 2024 | Plan Your SEO Budget Right

Gary
April 5, 2024
9 Comments

SEO is one of the most important parts of any successful online business. It doesn’t discriminate and gives an equal opportunity to all kinds of businesses to make an impact in the market.

In this, if you have decided to invest in SEO, then you definitely want to know how much does SEO cost in 2024.

Don’t worry, you will get to know everything about SEO cost and other important related aspects that you must know in advance.
So, are you ready?

Interesting Facts

US businesses alone spend $80 billion annually on SEO. Meanwhile, having a big SEO budget doesn’t guarantee success. What brings success is picking the right SEO strategy that is executed by the right SEO company or experts.
According to Grand View Research, the SEO market will reach $102.6 billion by 2027.
The average ROI for SEO is 22 times the initial investment. This shows what you will get at the end when you have a well-planned SEO strategy.
More than 63% of businesses trust SEO agencies or companies to do their SEO work.

How Much Does SEO Cost Exactly?

You may feel disappointed to know that there is no fixed cost associated with SEO.
But hold on!
We can give you estimates that help you determine how much you need to invest in SEO.
SEO costs may vary depending on various factors. Let’s discuss the factors that affect SEO pricing:

1. Industry Competition

Highly competitive industries like finance, law, healthcare, etc. require more complex SEO strategies.
If your business niche is highly competitive, then you may need to pay more in comparison to low-competitive business niches.

2. Business Size and Website Authority

If you have a website with fewer pages, then you will be glad to know that you can start your SEO journey at a fairly low cost.
Businesses that have high authority and complex websites need to spend more as they need to deal with lots of technical aspects of SEO.
Another big challenge is sustaining the top positions in SERPs.

3. SEO Goals and Target Keywords

If you are too ambitious and want to rank for top positions for high-competitive keywords, then make sure you have big pockets.
Yes, everyone wishes for the same, but it is always good to make your goals achievable.
Make sure you have achievable SEO goals and a well-balanced keyword strategy.

4. Location Preference

Local SEO is way cheaper in comparison to national SEO.
First, you need to understand from which location you want to get your sales or conversions.
If you want to serve worldwide, then obviously you need to spend more.
Meanwhile, if you want to rank for a specific location, you can expect a better ROI in less time.

Breaking Down SEO Service Costs: Understanding What You Pay For

SEO comprises various tasks and strategies. However, it is recommended to get a complete SEO package for better results.

But just in case you want a specific type of SEO service, here is a quick breakdown of SEO service costs.

1. Keyword Research

Keyword research is considered the prime pillar of SEO campaigns. A good set of keywords always helps you achieve your goals quickly.
In most cases, SEO doesn’t give businesses the desired results because of the wrong choice of keywords.

Keyword Research Cost

Keyword research tasks range from $200 to $2000.

Factors Affecting the Cost of Keyword Research

Extensive keyword research that includes analyzing competitors and in-depth search volume data.
Finding potential in highly competitive keywords.
Finding untapped keywords for respective businesses.

2. On-Page Optimization

The on-page optimization process is vital for search engine bots.
It helps them determine whether your website’s pages are appropriate to show to users.
From readability to keywords to page load speed, there are many aspects of on-page optimization.

On-Page Optimization Cost

On-page optimization typically ranges from $50 to $200 per page.

Factors Affecting the Cost of On-Page Optimization

eCommerce websites require more attention to detail. Apart from that, such websites contain thousands of products. To cut down on costs, you can start working with selective pages.
Fixing technical issues generally spikes the cost.
Writing compelling copies and adding meta titles and descriptions to improve rankings.

3. Link Building

Link building is much like getting recognition from similar and big names in your niche.
Link building should be done very carefully, and one should not build an unnecessary number of links.
If you really want to achieve top rank in SERPs, then make sure you focus on building only quality links.

Link Building Cost

Generally, it varies depending on various factors like the number of links required, placement strategy, link quality, etc. To get one high authority link you may need to pay around $10 to $150. On the other hand, at the same price you may get 10 to 50 low authority links.

Factors Affecting the Cost of Link Building

Getting links from top-authority websites in your niche.
Building strong communication before approaching for a link.
Fulfilling the requirements of the respective website, which includes writing an article.
Guest posts to relevant and niche websites.

4. Technical SEO Audits

Frequent technical SEO audits make sure there is no problem experienced by search engine bots while crawling your website pages.
If you have a static website, then you may need to use this service only once.
But if you have a dynamic website, then you need to make sure it is done on an almost regular basis.

Technical SEO Audits Cost

It ranges from $500 to $5000, depending on the complexity of your website.

Factors Affecting the Cost of Technical SEO Audits

Large websites with complex configurations
Restructuring the website.

How Much Do Businesses Spend on SEO Services?

According to the State of SEO Agency Report 2024 by Search Engine Journal, most businesses set a budget of $500 to $10,000 per month.

However, almost 48.9% of agencies push their clients to increase their budget at least once a year.
The same report also suggests that businesses that have a budget of less than $5000 per month are likely to spend most of their spending on SEO services instead of design, social media marketing, PPC, influencer marketing, etc.

Tips to Control Your SEO Budget

As you already know, SEO is a long-term and continuous process. So, it is better to prepare in advance.

Instead of directly consulting any SEO professional, you need to first understand what you actually want to achieve from SEO.

Once you understand your needs, you can easily control your SEO budget.
Here are some tips that help you understand your needs:

1. Set Long Term Goals

Prioritizing goals gives you more power to control your budget. Be clear about your primary goals, like increasing brand awareness, getting more sales or leads, achieving a top position in SERPs, focusing on building authority, etc.

2. Begin with On-page Optimization

If you can’t decide where to begin, then simply kickstart your SEO journey by optimizing your website’s on-page SEO.

On-page SEO is often the most neglected part, and there is no need to say that most people do not pay attention to it in the initial stage.

Don’t make this mistake. Make sure you have the right on-page optimization work on your website.

3. Learn and Apply Whenever Possible

SEO is definitely a complex process, and it should be done by professionals only. Don’t leave a chance to learn it.

At least try to learn the basics. It may not help you to become an overnight expert, but you can make sure your SEO is running on the right track.

For instance, you understand what kind of link building is best for your website. Now, you can simply ask your potential SEO company or professional to deliver the best.

4. Use Free SEO Tools

You can find tons of free SEO tools online effortlessly. Don’t hesitate to use them; after all, they are free.

Free SEO tools definitely come with some limitations, but they are not really bad for beginners.

You can offer some direct suggestions to your SEO team. For instance, using Google Keyword Planner, you may find some great untapped keywords that have the potential to bring lots of organic traffic.

5. Focus on Quality Over Quantity

In the beginning, you may desire to get everything quick and fast. In this, you may encounter some low-rated agencies that may offer to achieve some unrealistic SEO goals for your business at a very cheap price.

For instance, thousands of backlinks for a few dollars! Beware of such things and avoid setting high expectations.

Don’t run behind quantity; always focus on quality SEO work, as this is the only thing that helps you reach the top.

6. Track Your SEO Performance

The good thing about SEO is that it is measurable. You can use various free tools, like Google Analytics, Search Console, etc., to measure your SEO progress.
It is for sure that you will not understand most of the data, but knowing a little is more than enough for you.
By empowering yourself with knowledge, you can ask the right questions to your SEO partner without any hesitation.

Top Barriers To SEO Success

At some point, you may feel disappointed and want to give up.
Well, that is natural, as sometimes SEO doesn’t perform as expected.
Apart from genuine reasons like algorithm changes, sometimes it is you who acts as a barrier to your SEO success.

Here are some of the of the top barriers to SEO success:

1. Budget Cuts/Approvals

Most businesses fail to sustain their monthly SEO budget.
Either they make some budget cuts or delay the process from their side by not approving recommendations.
If you trust your SEO company, then have some faith in them and let them do their work.

2. Competition in SERPs

In today’s world, competitors are equally knowledgeable and equipped with the best teams.
They are doing their best to stay on top. Outranking them is a real challenge and can’t be achieved overnight.
You should not fear the competition. Have some patience and work with proper time management and strategic thinking.

How Much Do Companies Charge for SEO?

As earlier said, the cost of SEO services is not fixed and may vary depending on various factors like the type of work, experience, complexity of the project, and much more.

Meanwhile, if you have decided to hire an SEO company, then here you will get some relief in terms of cost.

Most SEO companies follow simple-to-understand pricing models that you can compare with other SEO companies to find the best fit.

Here are the famous pricing models that you can choose according to your convenience.

1. Project-Based Pricing

If you are unsure about the project completion time or if an hourly rate sounds unfeasible to you, then you can go with a project-based pricing model. In this model, you need to pay for specific tasks. It could be small or big, and the company will ask you for a specific price accordingly.
Such a pricing model is best for tasks like on-page optimization, meta title, and description writing, keyword research, etc.

The price you may need to pay for project-based pricing is somewhere around $100 to $1000.

2. Monthly Retainer

It is among the most popular options among businesses.
It fits best for businesses that actually understand the power of SEO.
With a monthly retainer pricing model, you have the option to combine multiple SEO services or a full SEO package.

All you need to do is pay a fixed monthly fee to the company and submit weekly or monthly reports.

Depending on the SEO services you pick, you may need to pay somewhere around $500 to $20000 per month.

3. Performance-Based Pricing

This is the current favorite for most businesses and the most-picked one too.
SEO companies that offer performance-based pricing can be your next trusted SEO partner.

Instead of charging a fixed amount, they will ask for a percentage of the revenue or leads that they will generate from their SEO efforts.
You will find such pricing options for eCommerce businesses or lead generation tasks.

Depending on your niche or competition, you may need to pay 10% to 30% of the generated revenue or the cost-per-acquisition (CPA) of each lead.

4. Hybrid Pricing

If you like the above pricing methods but are looking for something extra that offers a mix of all, then don’t worry; hybrid pricing is your solution.
Hybrid pricing works in various ways. For example, you want to set performance-based incentives over monthly retainers.

Make a note that the above-mentioned pricing structures are just rough estimates.

When considering SEO services, it’s always advisable to obtain multiple quotes from reputable providers, clearly define your goals and expectations, and carefully evaluate the value proposition and track record of each provider before making a decision.

What is the Hourly Cost of SEO?

Hourly-based pricing structures are primarily popular among freelancers, but you can find many companies that would love to do your project on an hourly basis.

If you already know what kind of work you are expecting from your respective company and know the estimated hours, then hourly-based pricing is the best option for you.

Hourly rates generally offer you the best kind of deliverables. You will have a track of each minute that makes sure your project gets completed on time with full satisfaction.

Hourly rates can range from $75 to $300 or more per hour.

What Is The ROI of SEO?

SEO definitely promises you the highest ROI possible, but you need to be very honest with your SEO efforts. To get the desired results, you may need to wait a few months or years very patiently.

Make a note that when you are expecting a good ROI, don’t set any false expectations, as they may vary for different categories or niches.
Here, check the ROAS and ROI of different industries to get a clear picture of your industry.

Conclusion

Got your answer? Maybe not, as we have given you only estimates.
Don’t worry; to get the right quote, we recommend you contact a professional SEO company like Softtrix.

Hiring a company over a freelancer gives you many benefits, like quick access to top SEO experts, 24/7 monitoring, instant fix issues, and much more.

Meanwhile, if you are planning to hire a freelancer, then just keep in mind that handling SEO is no longer something that can be handled by a single person.
Take your decision wisely, as your decision makes a big difference for your business growth!

9 replies on “How Much Does SEO Cost in 2024 | Plan Your SEO Budget Right”

Thank you for providing such valuable insights on SEO costs in 2024! Your comprehensive breakdown really helps in planning our SEO budget effectively. Great job on keeping us informed and empowered!

Informative Blog

Finally, a clear breakdown of SEO costs for 2024! This post is a lifesaver for businesses trying to navigate their SEO budget.

Understanding the cost of SEO is pivotal for any business’s success online. Your insights on planning the SEO budget for 2024 are incredibly valuable. Thanks for shedding light on this crucial aspect of digital marketing!

Understanding the cost of SEO in 2024 is crucial for businesses looking to plan their digital marketing budget effectively! This blog post provides valuable insights and tips on how to allocate your SEO budget wisely. Thanks for sharing this informative article to help businesses make informed decisions about their SEO strategies!

Thanks for sharing an informative blog.

Informative blog.👍👍