2Z94JGN7RZMN -We all know that getting high page rankings on page 1 of the Google search engine results is a valuable spot to be in. But how valuable?
In April 2011, Optify published a new study that shows the distribution of clicks on the first search result page. According to their data, the number one result receives 36.4% of the clicks and the last result on the first result page gets 2.2% of all clicks. While two years old as of this writing, I’m sure the impact of this study is still valid if not more so.
According to their data, 60% of the clicks go to the top three. The first result page gets 89% of all clicks. Ranking first on the second page has some benefits because there’s a slight bump for position eleven (2.6%, the first result for page two) over the last position on page one (2.2%, position ten). The next highest click through rate (CTR) on result page 2 is 1.5%. All other positions have lower click-through rates (CTR).
CALCULATING A DOLLAR VALUE
The only way to calculate the dollar value of a high search engine results listing is to create and track your goals and set up a sales funnel using Google Analytics. You can find a detailed, step-by-step tutorial on how to set up a Goals and Funnels on Google Analytics HERE. This is a bit more difficult for consulting companies that provide services instead of selling widgets but the overall concept is the same: the more traffic, the more leads the more closed business.
As a business owner you should know or at least have a solid idea how many sales you close out of how many proposals or prospects you present to. Are you closing 3 out of 10 (30%)? 4 out of 10 (40%). The first thing you’ll need to figure out is the average monthly search volume for your keyword or “money phrase”, as we like to call it. You can figure out the monthly search volume of your suggested keywords using the Google keyword estimator HERE.
Using round numbers, let’s say the average monthly search volume of your keyword is 1,000 searches. According to the study above, the number one results gets 36.4% of the clicks (364) vs 2.2% (22) for position ten. The assumption then becomes, if you close 40% of your prospects, the difference is 40% of 364=146 or 40% of 22=8.8. Would you rather close less than 9 or 146?
Only you know the value of your average sale or service sold but it’s safe to say: higher search engine rankings equals more business.
Bottom line: Better Search Engine Optimization (SEO) equals more profits.
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For a comprehensive and exhaustive study on how to calculate the dollar value of your own Google search engine rankings, check out the SEO BOOK website HERE.