Typically, the return on an investment (ROI) is calculated by subtracting the investment’s cost from the gain obtained by the investment. Isn’t it easy to understand? It’s a little less straightforward in the area of search engine optimization (SEO).
This is because determining how much of your sales or leads come from SEO alone might be difficult. Moreover, it is difficult to determine the exact costs associated with creating your SEO strategy and implementing it.
Due to the difficulty in calculating and monitoring the ROI of an SEO campaign, Prism Digital SEO Marketing went ahead and developed a formula.
To begin, log into your Google Analytics account and go to the “ADMIN” tab on the left sidebar. Select “e-Commerce settings,” then “Enable Enhanced e-Commerce Reporting” from the “VIEW” menu.
So that data can be sent to Google Analytics, the next step, regardless of whether you’re using Shopify or WooCommerce, is to set up tracking on these platforms. You’ll be able to see a number of crucial metrics once you’ve finished, including:
- Revenue metrics
- Page origination
- Conversion rates
- Average order values
- Customer checkout behavior
- Product performance
Page origination is a very essential metric for your objectives. This is because it informs you about your customers’ origins and where they are in their journey throughout your pipeline. To determine where SEO performance can be optimized and which pages are already top performers, you can then determine which pages are performing well and assign values to each page.
Evaluating Your SEO Return on Investment
Publishing a lot of high-quality, well-researched material is essential for a successful SEO strategy. In our opinion at Prism, an SEO agency in Dubai, especially if you’re in a highly competitive topic like personal finance or health and fitness, to be able to acquire traction with your SEO campaign, you’ll need at least 250 published articles.
Assume that each brief article costs you 100 dirhams to write and publish on your website. A 25,000 dirham investment would be required. Divide this number by the total return on your SEO investment to arrive at the ROI.
Discovering Your Investment Profit
How to calculate your investment gain is a vital component of the ROI formula that has yet to be discussed. Google Analytics, as we previously stated, is your best friend in this situation. Toggle on “Enable Enhanced e-Commerce Reporting” in the Google Analytics interface, then go to the “Conversions” tab under the “Analytics” window. As well as your revenue and conversion rates as a result of your organic visitors, you can now see your organic traffic data.
We can assume that SEO generates nearly all organic traffic revenue since organic traffic refers to all non-paid web traffic (i.e., traffic not generated by PPC advertising). As a result, we recommend measuring the entire return on your SEO expenditure using your “Revenue: Organic Traffic” statistic, which can then be entered into the formula above.
Search Engine Optimization (SEO) Is Your Key To Organic Growth
The findings of a recent SparkToro study show that more than half of all web traffic comes from Google search queries, eclipsing traffic from Facebook and other social media sites. For bringing attention to your website, there is no better marketing channel than SEO. We go over the basic stages for estimating the ROI of an SEO campaign in this post. This is a terrific way for collecting the data you need, whether you’re a marketing manager eager to show off the rewards of your efforts to your employer or one of the SEO companies in Dubai trying to figure out if your SEO strategy for your clients is working.
You should always keep in mind that SEO is an investment for the long term. The entire value of an SEO effort can frequently take months, if not years, to manifest. You can learn which components of your plan are performing as expected and which elements may need to be revised if you know how to track your ROI and the development of your campaign.
If you’re looking for SEO services in Dubai, give Prism Digital a call right now. Prism Digital is one of Dubai’s renowned SEO companies, offering services to clients in the UAE and around the world. With their guaranteed Google Ranking packages, they can help you get on the first page of Google SERPs.