How Much Companies Lose by Ignoring Local SEO?
You may have heard a lot about local SEO and how important it is. But regardless of the intensity of awareness, local SEO is yet to achieve its due importance. It is largely ignored and often not integrated into a full-fledged SEO campaign.
The stats:
We have gathered a few statistics to show how grim the situation is.
● On average, a company with a $100,000 marketing budget spends a paltry $500–$1,250/month on local SEO. – Source
● 56% of local businesses are yet to claim their Google Business Profile. – Search
● 58% of companies don’t optimize for local search results and just 30% have an actionable plan for this – Source
● 23% of people come across fake business listings online at least once a month. Interestingly, 62% would avoid a business if they found inaccurate information about it online – Source
Speculating losses with an example
To get this even better and understand the lost opportunities in an assumptive number, let’s take an example – Imagine a small bakery in Faridabad. It bakes mouth-watering pastries and has loyal regular customers. The shop owner does not know about local SEO or ignores it altogether thinking it’s an added expense. But in the shop’s neighborhood, nearly 150 people search for “bakery shop near me” almost every month. By doing proper local SEO, it could easily capture 15-20% of those searches meaning 25-30 new customers monthly.
Now, if a customer spends an average of ₹150 per visit and returns to the shop at least twice a month, then:
25 new customers × ₹150 × 2 visits × 12 months = ₹90,000 annually
But that’s not enough. Those 25 monthly customers will after all bring their own friends, order custom cakes on special occasions, and are likely to place bulk orders during festivals like Diwali and Holi.
So, on average, the bakery may actually be missing out on approx ₹1.2-1.5 lakhs yearly.
And this loss could have been avoided by something as simple as setting up Google My Business. Given that it is free to use and quick to set up, there’s no reason for a business to not use it.
The best time for local SEO is now!
Think with Google reports that searches for local places with “near me” have grown 150% faster than those without it over the past two years. Even more telling, global searches for “open now near me” increased by over 400% since last year.
In India, on an average, about 85.5 percent of households have at least one smartphone. Source. And because most ‘near me’ and local searches are done using hand-held devices, you can very well understand what all opportunities are available in the results from local SEO.
Google Trends India. Searches for “Near Me” from 2004-present
Why are many businesses still hesitant about local SEO?
Despite the promising opportunities local SEO offers, why are many businesses still hesitant about it? Our study from past interactions with businesses reveals interesting insights.
We often hear wide-ranging opinions, from “we have limited budgets,” to “we are doing well, and our products are so good word of mouth does the job,”
While these are perfectly legitimate concerns and valid opinions, if your business needs to scale, you need more visibility and best of all be everywhere your audience might be searching for you.
As far as the budget is concerned, it is one of the most cost effective ways to get qualified leads when compared to large ad spends.
If your business is dependent on word of mouth marketing, local SEO ensures that your happy customers’ reviews and recommendations are visible to new prospects online.
Another valid concern we hear is how would they find a consultant to get local SEO done in the right way. This concern often stems from past bad experience with a service provider or not leveraging SEO services ever.
But this can be addressed simply by researching agencies or consultants who specialize specifically in local SEO.
Check their own local search visibility. If they rank locally for terms their customers are searching, they can rank you as well.
Webmatriks ranking #1 for locational keyword ‘seo services faridabad’
Look for their case studies. An agency that has a track record of performing consistently well for their local clients is a sign they may be a good choice.
Local SEO portfolio
Ask for references from existing clients. Most local SEO service providers offer free audits to understand your present condition and what all you need to do to get more local customers.
Contact us now for a free quote
To conclude, local SEO offers endless opportunities and if you are not leveraging it, you are missing out on possibilities for more money everyday. If you have not yet realized its potential, give it a try!
At Webmatriks, our local SEO services are geared towards helping you not just target nearby customers in the best way possible, but also to retain their interest in your business. If you want to attract customers who are already searching for businesses like yours, let’s talk now!
