“Opportunity costs represent the benefits an individual, investor or business misses out on when choosing one alternative over another. While financial reports do not show opportunity cost, business owners can use it to make educated decisions when they have multiple options before them. Because by definition they are unseen, opportunity costs can be easily overlooked if one is not careful. Understanding the potential missed opportunities foregone by choosing one investment over another allows for better decision-making.” – Investopedia
After doing SEO for a decade and a half and handling hundreds of projects, I’ve learned just how important SEO is to increasing a business’ revenue. SEO is the number one source of sales for small businesses. And yet, many owners and executives haven’t recognized the importance of search engine optimization and incorporated it into their business.
If you don’t invest in SEO, you’re missing out on opportunities to generate more sales. There is a high return on investment with SEO, but many businesses fail to utilize this tool in their marketing strategy. I’ve learned from my years in the business that there are three basic groups of business people who struggle with the concept of SEO and overlook a huge missed opportunity.
The first group has never done SEO and are afraid of the unknown. To invest in something new like SEO, feels more like a cost than an investment. They are unsure if it can work for them. They’ve heard the hype and even seen statistics on SEO, but are nevertheless afraid to give it a try. While this can be true of any business, it’s most likely the case with small businesses – mom-and-pop stores or a company with few employees. Money is limited and every dollar is precious. For this group , it doesn’t seem to make sense to put money into SEO because it may not convert immediately.
The second group has tried SEO on their own. They have the mentality that anyone can do it. They read enough information on the internet just to be dangerous. They stick a few keywords on their website and write a few blog posts, hoping this will do the trick. They don’t realize that SEO is a complex, time-consuming, ever-changing type of marketing that must consistently be done right to get any lasting results.
This third group recognizes the value of SEO. They may have even seen results. They probably hired someone to do their SEO, but they didn’t stick with it. Maybe it didn’t work right away for them, so they gave up. They want an instant return, but SEO is less like an overnight sensation and more like an investment. The best investments take time to grow. SEO is no different and multiplies over time with an exponential return.
The Real Cost, The Real Question
The true cost of SEO is not measured by how much you pay an agency to do the work. Instead, consider the cost of missing out on the sales growth potential of SEO. Economists call this opportunity cost. You’re losing sales because people don’t know about your business. You’re losing out to the competition because they are getting noticed and you are still in the shadows.
A business that doesn’t thrive won’t survive. You must continue to get new customers, and SEO is one of the best ways to achieve this goal over the long-term. Once you have a solid SEO plan and agency in place, it will continue to reap results month after month, year after year. Don’t miss out on all the opportunities available to your business. At the end of the day, it’s not a question of if you should do SEO, but instead… “Are you ready to jump in?!”
Let us help your business succeed by investing in SEO. It’s common for companies to get quadruple-digit returns (ROIs) from SEO with us. Get a free SEO audit.