Wouldn’t it be helpful to know how much traffic and revenue you’ll bring in before you launch your next marketing campaign?
After all, why promote a product or service before researching its market potential?
The ability to estimate your ROI is critical for making sound business decisions, such as allocating your marketing budget or selecting the best SEO keywords for your brand.
Why Should You Consider ROI?
You must consider ROI in order to:
- Justify your internal budget.
- Improve your pitch for an agency or freelance work.
- Use SEO data for business intelligence.
5 Steps to Estimating Your SEO Potential
Here’s how to calculate the return on investment for your next SEO campaign:
Step 1: Choose a “Keyword” Universe
- Contact your customer service team: Examine support tickets to determine what new users don’t know about your product. What issues are they attempting to address?
- Pay attention to sales calls: What persuasive arguments and closing techniques convert prospects into customers?
- Connect with current and former customers: Use surveys and follow-up conversations to learn about the problems that your product/service solved for them.
Step 2: Get Traffic Volumes
For SEO Success, Once you’ve determined your keywords, you can estimate potential traffic.
When qualifying your data, keep in mind the limitations of data, attribution, and organic click-throughs.
Step 3: Determine What a Conversion Means to You.
After you’ve estimated your potential search volume, keywords, and traffic, define what a conversion means to you.
This can vary between e-commerce and lead-generation sites.
Step 4: Determine the calibre of your salespeople.
Not every lead becomes a customer. That is why, when forecasting ROI, it is critical to consider your sales close rate.
You must also consider factors such as one-time revenue and lifetime value.
Follow these steps to forecast your SEO ROI:
- Compile a list of keywords.
- Obtain search volume.
- Multiply potential traffic by organic CTR.
- Determine the conversion rate.
- Traffic is multiplied by conversions.
- Determine the close lead rate.
- Potential sales are multiplied by conversions.
- Determine the revenue per sale.
- Divide sales by revenue.
Step 5: Create a Reasonable Forecast
To make a reasonable forecast, analyze your performance on search engine results pages using content analysis, untapped keywords, and competition analysis (SERPs).
You hold the key to the future. Knowing the volume of potential traffic, rankings, conversion, and revenue can help you make a business case.