Is SEO Worth It in 2024? Analyzing the ROI of Organic Search Campaigns - HigherVisibility (2024)

Editor’s Note: This post was originally published in July of 2023 and has been updated for accuracy and comprehensiveness.

Many small business owners struggle to decide whether search engine optimization (SEO) is worth it.

Unlike paid search advertising, SEO doesn’t guarantee you a top spot in Google’s rankings.

Also, SEO doesn’t come with a pre-built performance dashboard that tells you exactly how your daily spend translates into increased revenue.

On top of that, the industry is full of jargon. Many self-appointed “SEO experts” are more like glorified hype artists. So finding thoughtful guidance on the topic can be a challenge.

It’s no surprise why some small businesses decide SEO won’t work for them.

But the cold, hard data paints a different picture: SEO is still worth it in 2024.

You just have to approach it the right way.

Today, we’ll dive into what the numbers say about whether SEO services are worth it in 2024. We’ll also address some common objections people have about investing in organic search.

Does SEO Really Work and How Effective Is It?

In short, SEO is a cost-effective marketing channel that can generate tons of awareness, traffic, and sales for your business.

But don’t just take our word for it.

Here are some stats to back it up:

More Brand Awareness

Improving your organic search engine rankings lets you reach a far greater pool of prospects.

When you consider the fact that Google processes around 40,000 queries every second but only 0.63% of users click to the second results page, it’s clear that the higher you rank, the more your target audience will come to recognize your brand.

But the benefits go beyond mere brand recognition.

The more your prospects see your site consistently appearing for the queries they’re searching for, the more they’ll assume your brand is trustworthy. The logic is simple: if Google thinks your site is worth the top spot, then your business is probably legit.

More Traffic

Google receives around 86 billion visits per month, and roughly 60% of all organic clicks on desktop and mobile go to one of the top three results.

This means you stand to gain disproportionate increases in traffic when your site starts rising to the top of search results pages (SERPs). What’s more, this traffic consists of users who are actively seeking information about your products and services—and it’s free!
The fact is 53% of all web traffic comes via organic search. This figure drops to 15% for paid search and 5% for organic social media.

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More Sales

Increased brand awareness and traffic don’t count for much unless they also help you close more sales.

The good news is proper SEO lets you attract leads at every stage of the customer journey, from window shoppers to undecided prospects to purchase-ready buyers.

It’s important to realize that 59% of online shoppers turn to Google to research products they want to buy. On average, organic leads have a 14.6% close rate. What’s more, 76% of local searches lead to an in-store visit within 24 hours.

Since you’re not paying for clicks, SEO customer acquisition costs are relatively low (averaging around $942 versus $1,907 for paid search). And for B2B businesses, organic search generates twice as much revenue as all other channels combined.

Therefore, it comes as no surprise that 63% of businesses actively invest in organic search, with around 50% of marketers saying it’s the most profitable channel they use.

Real-Life Examples of SEO Making a Difference

If the stats above haven’t quite convinced you of the importance of SEO, perhaps a few case studies from our past clients will change your mind.

Case Study: Restoration Roofing

We helped Restoration Roofing renew its online image and implement on-page and off-page SEO upgrades.
Not only did we help the company increase its organic traffic by 162%, but our web design makeover helped quadruple its conversions.

Case Study: Allied Van Lines

Allied Van Lines is a well-established player in the moving services industry.

But when they came to us in 2020, the company’s online presence was failing to live up to its hard-won reputation as an industry leader.

Past SEO service providers had left the company site with spammy links, low-quality content, and minimal organic traffic, leads, and conversions.

Through a combination of link reclamation, digital outreach, keyword research, content development, and technical fixes, we completely transformed the site’s performance for the better.

Within twelve months, organic conversions increased by 9.44%—equivalent to hundreds more leads per month. Also, organic traffic grew by 2.6%, which is not bad at all considering the widespread disruption of COVID-19 during 2020.

Bottom line? SEO is a solid investment.

Common Questions and Objections About SEO

By now, we hope you’re convinced that SEO is a viable marketing strategy for many businesses.

But maybe you still have lingering doubts about whether it’s right for your business.

We hear you.

To ease your concerns, let’s address some common objections to SEO.

Objection #1: SEO Is Too Expensive

Despite the effectiveness of SEO, some business owners worry that the cost of developing and implementing SEO campaigns is too high.

After all, SEO isn’t a “set-it-and-forget-it” type of activity. Doing it right requires continuous work and maintenance over extended periods of time.

So, how much does SEO cost?

According to a recent study by Ahrefs, 68.8% of SEO service providers charge a monthly retainer fee of $2,000 or less.

For SEOs that charge by the hour, the most common rate is between $75 and $100.
As you’d expect, more experienced SEO providers command higher fees. But SEO pricing also varies widely depending on your specific business needs and objectives.

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These costs aren’t trivial. And some businesses may be tempted to gamble on a cheaper SEO option when deciding how to allocate their marketing dollars.

We caution against that.

The stats suggest that business owners who spend less than $500 a month on SEO are 75% more likely to be unhappy with their results compared with those who spend $500 or more.

Remember that SEO is like any other service: you get what you pay for.

Are SEO companies worth it? Yes, if you go for quality.

Your chances of success are much higher when working with a reputable SEO provider that knows how to tailor an organic strategy for your business.

And there are plenty of affordable SEO companies out there to meet most (reasonable) budgets.

Objection #2: SEO Results Take Too Long

Some business owners think SEO just takes too long.
In our study on small business digital marketing, we found that 68.8% of SMB owners would expect significant SEO results within three months or less.

The reality is that even with a big budget and the expert support of a professional SEO service, you’re unlikely to see many significant results within three months.

However, after six to eight months of launching a well-crafted SEO strategy, you’ll likely start noticing steady improvements in keyword rankings and traffic volumes. And as you keep your foot on the pedal, you can expect this progress to continue until you reach a point where you’ve completely transformed your organic search performance for the better.

Keep in mind that the average page ranking on page one of Google is over two years old. So, yes, SEO takes time. But that just means that having a little patience gives you a significant competitive advantage.

Objection #3: Don’t SEOs Use Shady Tactics?

We’ll be the first to admit it: not all SEO is good SEO.

In the worst-case scenario, you can fall victim to a company using black-hat SEO techniques, leading to disastrous consequences for your brand.

For example, if Google suspects your site has been using deceptive tactics to game its algorithms, it may deindex your entire site. And if that happens, you won’t appear in their search results even when someone searches your company name.

So if you want to avoid such problems and keep things above board, you’ll need to team up with a reputable white-hat agency.

But how can you tell if an agency is the real deal?

Well, one indicator is that they’re recipients of recognized industry awards.

(Shameless plug: We’ve recently won several awards, including Search Engine Land’s SEO Agency of the Year).

Of course, awards alone don’t tell the whole story. Just like you shouldn’t instantly hire someone because of their diploma, you shouldn’t instantly hire an agency because of their awards.

Agencies should also be able to show you case studies of real companies (like the one we shared earlier) with live websites where you can see the results for yourself.
You can also look at feedback from previous agency customers using review sites like Clutch.co.

Objection #4: SEO Is Dead Because of AI

The recent rise of generative AI technologies (like ChatGPT) has led some to predict that SEO will soon become obsolete.

The idea is that as AI becomes better at understanding and generating human-like content, search engines will no longer be required.

Why?

Because if AI reliably gives users direct, high-quality answers to their questions, there won’t be a need to visit websites. And, therefore, no need to use search engines.

We think this is misguided.

First, present-day AI technology is not capable of replicating the breadth, depth, and freshness of human-created knowledge found on the internet. Also, AI creates answers based on existing information; it doesn’t come up with new insights of its own.

Second, the search engines do more than just provide answers to questions. They connect users to a diverse ecosystem of digital resources, including online communities, interactive content, products, services, and rich multimedia experiences. AI, in its current form, doesn’t come close to offering the same thing.

Finally, the relationship between AI and search engines is actually more cooperative than competitive. Search engines are increasingly adopting AI to improve the convenience and accuracy of their services.

For example, Bing users can now get AI-generated answers alongside traditional search results, courtesy of Microsoft’s “Copilot” assistant.

Objection #5: SEO Doesn’t Work for My Industry

Some business owners mistakenly believe that SEO doesn’t apply to their business type.

But the reality is that virtually any business can benefit from SEO in some capacity.

If either of the following is true, SEO can definitely work for you:

• Your potential customers use search engines to find the type of product or service you sell
• Your potential customers use search engines to find solutions to the kind of problems your business solves
• Your competitors have an online presence and appear in search results

Objection #6: SEO Is Too Competitive

The concern that SEO is too competitive is understandable.

After all, there are limited spaces at the top of the search results. And these spaces tend to be dominated by well-established websites.

For a small business starting from scratch, the level of competition can seem impossibly high.

But this pessimism is misplaced.

Search engine algorithms are designed to prioritize relevant and quality results. This means even new or small websites can outrank bigger sites if they focus on creating highly relevant, valuable content.

Also, SEO isn’t just about ranking for the most competitive keywords. There are countless niche keywords and long-tail phrases that are far less competitive but highly targeted toward specific user intents. By focusing on these terms, you can attract qualified traffic without having to compete with industry giants.
Lastly, as much as 46% of all search queries have local intent. This is great news for small businesses. Optimizing for local search queries helps you capture traffic from potential customers in your area while facing less competition from national or global brands.

Objection #7: I Want to Do SEO Myself. But I Can’t Find Quality Advice

If you don’t have the budget to outsource your SEO, be careful who you take DIY SEO advice from.

There’s a lot of information about SEO out there.

But not all of this is good information. A lot of these results contain outdated advice or even stuff that never really worked.

So which sources should you seek for SEO advice?

First and foremost, we recommend Google’s own guidelines. Also, any SEO software companies with access to applicable data, respected industry publications, and experts with a proven track record.

• Official sources: Google Search Central
• The big three SEO software providers: Moz, SEMrush, Ahrefs
• Reputable industry publications: Search Engine Land, Search Engine Journal, Search Engine Watch, Backlinko
• SEO agencies or consultants with a proven track record: HigherVisibility, etc.

As a rule, if you follow the latest guidelines and research-backed advice, you’ll be heading in the right direction.

Objection #8: SEO Seems Like Too Much to Manage

SEO can seem like a complex business to newcomers.

And it’s true that SEO requires familiarity with several sub-disciplines, such as:

• Web design
• User experience
• Mobile optimization
• Keyword research
• Content creation
• Technical SEO
• Local SEO
• Link building
• Digital PR
• Conversion copywriting
• Analytics and reporting
• Overall strategy

That’s a lot to manage on your own. So it’s no surprise so many small businesses decide to outsource SEO to the experts.

But if you’re still on the fence about hiring an agency to manage your SEO program, know that you won’t need to pay a hefty upfront fee to fix everything wrong with your site all at once.

Quality agencies like ours know that SEO is a never-ending process that requires long-term investment. We’ll be happy to help you identify which problems to prioritize first and create a plan for ongoing optimization.

The verdict: Is SEO still worth it in 2024?

For us, the answer is a resounding yes! As the stats have shown, SEO is an excellent way to boost brand awareness, drive more site traffic, and increase sales revenue.

That said, SEO is only worth it if you approach it the right way.
To succeed, you should invest in the support of a reputable SEO agency (if you have the budget) and prepare to wait several months before your efforts start to bear fruit.