Owners of big and small businesses always have SEO-related expenses in mind and it’s perfectly fine to know more about these before making any decisions. In fact, there are three various pricing models that will determine the cost of search engine optimization services:
1.Cost per hour
2.Cost per project
3.The monthly cost
* Getting to Know the Hourly Cost of an SEO Service
This is the most popular pricing scheme. An SEO consultant or SEO services company can be paid at a fixed hourly rate. What’s going to happen is that, an advanced agreement would be made which includes the activities and services to be given and the equivalent number of hours needed within a specific period. Every end of the month or of each project, businesses will be given a detailed report of the total number of working hours spent. That’s the time when businesses will now process payments depending on the agreement on hourly rates.
The price of hourly services for SEO usually ranges from $20 to $200.
* Cost of Search Engine Optimization Services per Project.
This pricing scheme is different from the hourly rate payments. This time, an agreement between the business and the SEO firm will be made, which includes the standard rate for the entire project regardless on the number of working hours spent.
Typically, there will be a down payment requirement which is equivalent to 30% of the entire cost. Payments will gradually be given whenever a particular predefined milestone is achieved (i.e. completing a campaign, promoting a reconstructed website, and etc.)
This payment method is better in some cases where businesses cannot determine the actual number of hours needed to be spent on a particular task. It is also ideal for budget-conscious businesses.
* The Monthly Payment for Services
After being successful, some SEO campaigns expand further – usually after a month. So, creating an agreement to pay for monthly charges is the best solution for this one. What’s the typical monthly price for the service? It usually ranges from $500 to $1500 a month. Most clients from the United States prefer this pricing scheme.
Despite discussing all those, one important question remains – what is the best pricing scheme?
In most cases, would be best if a combination of the three schemes mentioned above is applied. Come up with an agreement stating that:
1.There’s a fixed rate for tasks that are clearly defined (redesigning a website, etc.)
2.There would be a ceiling on hourly and monthly rates. It’s like combining both charges. If the hourly rate is $30 and there is only a $600 monthly budget from the client, set the maximum number of working hours to just 20.
How much money should be spent on paying an SEO Services company?
After knowing the different pricing schemes, the next thing to focus on is the amount to be spent on SEO service. Expenses will depend on the business type, current online presence, goals to achieve, and all other factors. Below are some of the guidelines to be followed in order to help businesses decide:
1.Consider SEO as an investment, not a cost
Keep in mind that in business, it’s always worth it to spend money on investments. SEO is beneficial in providing both short- and long-term results.
2.Spend based on the profit percentages coming from online presence.
If the company is relying on online traffic, then it might be a good idea to focus spending on SEO. Allocate budget for internet marketing and SEO to maintain a good online presence and to further boost profits.
3.Go for long-term than short-term.
SEO campaigns may take time of up to 7 months to produce optimum results so consider this when allocating budgets. It’s better to spend $1,000 for 10 months of SEO campaign than to spend $5,000 for only 2 months.
While taking all these into account might be daunting, never forget that entrepreneurial success can only be achieved through thorough thinking.
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