Monday, March 25, 2013

What Is Google Places, Google + Worth? Maybe $5000 a Month

What is Google Places Worth to Your Small Business?

$10,000 a year?  A month?  A week?  A day?  In making decisions about how to spend your marketing dollars, you can make a smarter and wiser decision if you have some idea of the potential profit you might gain from spending nothing, a little or a lot.

So how much should you be willing to spend on Google Places help to rank #1 on Google Places?
How much is Google Places worth?

Start with your average transaction.  Some retailers might have an average as low as $50.  Lawyers might have an average as high as $30,000.  Do you know your average transaction in dollars? 

Next you need to get some idea of how many of your clients would use the internet to find your or make a decision.  I have clients who have close to 100% of all their clients coming in from the internet.  Others, like restaurants, hotels, and many retailers get hundreds of impressions per day and multiple clients per day calling from their Google Places listings.  Others with great rankings only get the occasional call. 

Your investment in an internet effort is determined by average transaction X number of anticipated additional transactions. 

So $50 per transaction and potential for 3 per week is $150 per week or $600 a month.  Margins of 50% would mean $300 a month extra profit.  I wouldn't spend much on SEO for that.

Average transaction of net $2000 in commission.  If one extra per month, I'd happily pay $500 a month for that.

Average profit per transaction $500 and 10 of those possible per month.  Investing $1000 a month for that is a no brainer.

One of the great things about SEO is that it lasts for a long time.  Unlike pay per click or advertising in Yelp or yellow pages, your website, Google Places efforts, YouTube videos, blog posts and other organic methods often work to make the phone ring for months or even years.

One last thing.  If you aren't highly ranked, your competitors are.  The customer they get one time will often turn into a client and a source of referrals or positive reviews.    Now how much is that Google Places listing worth?  Call Randy at 310-910-1848 if you'd like to discuss a budget that makes sense for you.

Want more like this.  This blog alone is the equivalent of a 200 page book.  I have two other blogs that deal with different areas of business management.  Between the three, I try to create 6 - 9 additional posts per week of marketing and management methods that you can employ immediately.

For instance, hundreds of folks have read: 

30 Foundational Elements to Small Business Marketing - Secrets from a Serial Entrepreneur

So you may want to check out my General Business blog:

Or you might like my blog on creating and managing internet content:

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