One question that definitely haunts the minds of webmasters is that how much they should spend on SEO or to ensure that their site ranks better than others on specific keywords. To be able to answer this question it is advisable to read as much as possible and this way you would be able to seek an answer.
For you to be able to understand what should be an ideal SEO budget, it is imperative that you first understand the payment models that most agencies would use.
In this kind of model, clients are asked to pay a set fee for each month in exchange of services as agreed upon. This is one of the most popular models because it offers better ROI. The monthly retainer model would also include sharing of analytic reports, recommendations on site content and improvements, keyword research, effective ways of optimizing the website and even link building.
Contract services at fixed prices:
Mostly all kinds of SEO agencies tend to offer contract services. This is because you as the client would want to hire specific services on contract basis before you jump into a monthly retainer model. One common example could be an extensive audit of the website along with recommendations. This would help determine strengths and weaknesses of your business website.
Project fees can be very much compared to contract services with the only difference that you hire custom projects that can work out for you in the short run. The price would vary depending on project type and workload allocation. An example could be social media account and campaign rollout.
This kind of consulting would include exchange of services on an hourly basis.
Mostly all kinds of agencies would use the above payment models to be able to engage clients. Likewise clients can also see what they require and accordingly hire a specific service. So, what are the typical costs associated with SEO? A monthly retainer may cost anywhere between $750 to about $5000 per month. The cost would depend upon the kind of services you opt for. Most businesses are seen to pay anything from $2,000 to $5,000. On the other hand contract services would depend upon what kind of service you wish to hire. Say for instance SEO copywriting would cost from $0.15 to $0.50 per word. Project based costs would depend upon the kind of project you wish to go for. Most projects would cost from $1,000 to $30,000. Hourly consulting rates would cost between $100 and $300 per hour.
Some of the things that you should be cautious about are instant results and guarantee. No SEO firm can guarantee results as it is not in their hands. Instant results are also not possible as Google can penalize websites if the technique does not follow their guideline.