How much should I be spending? We get asked this question all of the time, in one way or another.
- How much do I need to spend in order to be successful?
- What budget do I need to allocate for SEO?
- How much should I spend per day on PPC?
- What does it cost to get onto page 1?
It all boils down to the same question: What does it cost to run a successful search engine marketing campaign?
I’m sure that you won’t be surprised to know that there isn’t just one answer to this question. First of all, it depends on who is asking the question. Next, you need to understand the marketing you’re in. Then, you need to do a little math.
Let’s examine one case:
If you’re a broker and you’re looking to invest in real estate seo in order to provide your office with leads (Real Estate brokers asks us this question most often) then the answer starts with another question: How many leads/week do you want to give to each of your agents? 7 leads? 10 leads? 20? These are all fine answers. If you said 3, then I don’t think I want to work for you and your agents are about to leave you for the broker across the street or across town who actually tries to help his agents succeed by leveraging the web. If that sounded a little harsh, well, I’ve seen it happen a number of times and I’m watching it happen in our clients’ favor every day.
Anyway, I digress.
If you know how many leads you want to give each agent/week or per month, then you have the first number you need in determining your SEM budget. Let’s assume that you have 10 real estate agents working for you (this is the average size of a real estate office in the US).
Now, it’s time to think about your market. How much does it cost to source a real estate buyer or seller lead online in your market? Well, this is where guys like us SEO consultants come in. We can help answer questions like this. A mature real estate SEO campaign in a market of medium competition will generate leads at approximately $4 – $7/lead. If you’ve been SEOing for a while, then you can do even better than that. If you’re in a metropolitan real estate market and there are lots of firms competing for search engine placement, then this cost can climb significantly. For the purposes of this example, let’s use $5 per lead.
So, if you have 10 real estate agents working for you and you want to give them each 7 leads/week that’s 300 leads per month. At $5/lead, you should allocate a budget of at least $1500/month.
Ok, now, if you go looking for a real estate seo provider out there and someone tells you that they can provide seo services and they don’t talk to you about your business goals in a way similar to how I just did, then you know that they don’t understand the business that you are in. They don’t know the real estate market and they don’t know how to generate real estate buyer and seller leads.
One last point here. Frequest readers of this blog know that we talk about the fact that SEO is an investment. You’ll notice that earlier in this post I referred to “Mature” SEO campaigns. If you’re asking how much to invest, you should remember that investing in real estate SEO, like investing in real estate, is not going to bring you returns over night. Superior performance takes time and consistent investment. Proper planning, strategy, and implementation will maximize your investment in real estate seo. Just don’t expect it to make you a millionaire tomorrow.
That’ll take at least a week. ) Thanks for reading.