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When it comes to digital marketing, search engine optimization (SEO) plays a critical role in driving organic traffic and boosting online visibility. However, failing to optimize SEO effectively can result in missed opportunities and potential revenue loss.
In this article, we will explore Semrush, a very powerful SEO tool. With it we will help determine the financial impact of not optimizing SEO and provide actionable insights for improving search rankings.
If you’re not familiar with Semrush yet. It’s time to know! Because it’s a must-have tool in the arsenal of SEO professionals and one of the secrets to many of their tricks.
Step 1: Brainstorming Common Sense Words and Searching Google
To begin our research, we need to identify the main keywords relevant to our business or industry. Let’s take an example of a dental clinic in New Orleans. One common sense keyword we can consider is “dentist New Orleans.” Start by typing this keyword into a Google search.
Step 2: Selecting a Competitor for Analysis
From the organic search results, select the first direct competitor’s website. This competitor will serve as our benchmark for comparison and analysis throughout this process.
We chose our first result (I censored every thing out for privacy purposes).
Step 3: Utilizing Semrush
Next, go to SEMRush.com.
Semrush offers a range of features to analyze keywords, track rankings, and gain insights into competitors’ strategies.
But we only care about a couple of these metrics for what we’re doing now.
Step 4: Conducting Competitor Analysis
Paste your competitor’s website or business name into the search bar on Semrush and hit enter (as shown below).
Semrush will generate a detailed report containing valuable information about the competitor’s organic search traffic, backlinks, ranking positions, and more.
(Again, we only care about the metrics I’m about to show you!)
Step 5: Analyzing Organic Search Traffic
Pay attention to the “Organic Search Traffic” section in the Semrush report.
This metric indicates the volume of organic search traffic the competitor’s website receives. It gives us a glimpse into the potential traffic we could be attracting if our SEO efforts were optimized.
Step 6: Exploring Top Organic Keywords
Scroll down the Semrush report to the “Top Organic Keywords” section and click on “View details”.
Here, we find a comprehensive list of keywords for which the competitor’s website ranks highly in organic search results.
Step 7: Focusing on Keyword Metrics
Within the keyword report, locate the specific keyword you are researching.
Note the monthly traffic “Volume” associated with this keyword.
Additionally, pay special attention to the “Traffic %” metric.
This percentage represents the proportion of monthly visitors the competitor’s site receives from the selected keyword.
Understanding the financial implications:
Knowing the organic search traffic volume and the percentage of traffic generated by a specific keyword helps us gauge the potential impact on our own website.
By surpassing our competitor’s ranking position for that keyword, we can estimate the increase in traffic we may gain.
Step 8: Calculate!
The keyword ‘dentists new orleans’ supplies 16.96% of the traffic for this site. With a volume of 1300, that’s 220 potential customers a month landing on this page for that keyword.
Now let’s see how much money that is for us:
Knowing the frequency at which visitors on our website turn into customers, also known as our conversion rate, is crucial information to have! In case you’re unsure about it, a conservative estimate would be around 3%, although it’s an important metric to determine.
So, 3% of 220 is 6.6 extra customers a month by ranking one of your pages to Number 1 for this specific keyword.
Given a conservative lifetime value for a dentist’s customer being $1000. You stand to make $6500 extra a month, just by ranking one of your pages to number one.
So, that means for one keyword, on one specific page, optimized to get us to ranking position number 1: we can make X amount of dollars in revenue.
Now, multiply that to every page on your website and every blog post you churn out. If you get them all to number 1 or even close, you stand to make that much more per month!
You can be paying as low as $1000 in SEO as an investment and receive a 600%+ return!
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Remember to check back often, as we will be monitoring the comments section and actively participating in the discussion. Let’s learn from each other and continue to grow our knowledge about SEMrush and SEO together!