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Knowing how much to spend on SEO can be tricky — especially if you’ve been thinking of organic traffic as ‘free.’
A steady upward trend in SEO spending indicates that marketers realize the role SEO plays in helping prospective customers find their offerings. In 2020 alone, US businesses invested an estimated $79.3 billion to increase their organic footprint.
But even if you know how critical SEO is to your marketing, deciding how much to spend on it is another question. While there’s no single formula to set an SEO budget, here are some strategies you can leverage to find a number that’s right for your business.
Breaking down your marketing budget
Recent data suggests that B2C organizations spend an average of 5% to 12% of their revenue on marketing, and B2B puts aside about 8% to 9% of their revenue for marketing spend. Out of that total spend, as reported by Forrester Research, companies devote an average of half of their marketing budget to online strategies, such as SEO, direct email, social media, and data analytics. If you have an entirely web-based business, you’ll likely spend a greater percentage of your total budget on digital strategies.
Sample SEO budget breakdown
According to the 2021 CMO Survey, nearly 74% of companies invest in SEO. Every business has distinct needs, and the amount you should budget depends on your business model and niche, but it can still be helpful to look at some examples.
The...
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