While each marketing channel may have it’s own strengths and weaknesses, SEO is a class above the rest when it comes to getting customers as cheaply as possible. The 1st position on page 1 of google gets around 30% of all search traffic for a query on average, the 2nd position gets around 15% and the 3rd position around 7.5%. The bottom of page one receives about 0.25% of the search traffic. Having a large amount of traffic on your site compared to your competition, will set your business apart and ensure business growth long term and position capital recruit in a position of dominance in the market place.
Research shows that compared to other methods of generating leads, SEO provides the cheapest cost per lead when in a dominant position in search results. Search Engine Journal reports that inbound leads close at a rate 7x that of outbound lead generation methods. Meaning that you can get more leads at a cheaper rate with less work.
Aside from lead generation, SEO serves a branding purpose as well. Having your website listed at the top of the search engine results page will create the effect and appearance that your business is the ‘go-to’ in the industry. Meaning that customers will have more trust in your brand, leading to higher conversion rates and a multiplier effect through word of mouth.
All in all, SEO is a crucial building block that is important to achieving dominance in any industry, working alongside other channels and methods of lead generation and awareness building. SEO will allow you to lower the costs of other advertising channels, as well as create a new stream of lead generation.