Estimated Read Time: 9 minutes
Today’s article analyzes the pros and cons of SEO and PPC regarding accounting firms and provides insights as to which may be best suited for your firm. In this article:
- Pros and cons of SEO vs PPC for accounting firms
- Short-term and long-term ROI expectations and benchmarks for SEO vs PPC
- A methodical determination strategy of which advertising method is best for your firm
- BONUS: Using SEO and PPC to identify and hire accounting talent
Defined: SEO vs PPC
While SEO (search engine optimization) and PPC (pay-per-click) are both search-based marketing, many factors change between the successful execution of campaigns for either type. Firstly, let’s define SEO and PPC.
- Search Engine Optimization (SEO): Creating and publishing high-quality web content that successfully satisfies the search intent of a prospect. The content is discovered organically and boosted by the search engine algorithm.
- Pay-per-Click (PPC): Ads are bought for targeted keywords. Google will only charge the advertiser each time a searcher clicks and goes to the website.
In any prospect’s mind, an idea flow influences what queries they are searching for and what content they are consuming. For a successful SEO or PPC campaign, content must be published that successfully fulfills the idea flow in the prospect’s mind. The more relevant the content to idea flows that indicate buying behavior, the higher chance we have of converting that prospect into lead and then into a sale.
There are many varying factors between successfully executed SEO and PPC. For SEO, an emphasis is placed on long-form, thought leadership-positioned content. Thought leadership-positioned content takes the form of blogs, statistics, lists, whitepapers, and other forms of long-form content publication designed to position the publisher as the go-to source of relevant information in the marketplace. This distinction drives leads, as most people want to work with the top authority in an industry.
On the other hand, PPC generally takes the shape of a replacement for keywords currently out of reach for an SEO campaign. The same types of high-intent keywords are still targeted; however, we are paying to be ranked highly. Traffic is driven to a page written under traditional direct response advertising principles designed to elicit a response which typically takes the shape of submitting a lead form.
Both methods contain many positives and negatives. We take an in-depth look at both below:
Pros and Cons of SEO vs PPC for Accounting Firms
SEO - Pros & Cons
Pros Cons
Organic Traffic: Generates organic traffic which continually grows over time Time Consuming: Rankings and traffic take months of focused work to accomplish
Cost Effective: Scale traffic without increasing the budget Competition: Many high intent, high volume keywords are difficult to rank for smaller firms
Thought Leadership: Positions firm as a thought leader Evolving Algorithms: Content must be updated periodically to reflect algorithm updates
Long-term ROI: ROI continually climbs over time No Guaranteed Results: Unlike PPC, traffic from SEO is not guaranteed
High Quality Traffic: Organic traffic is generally the highest quality Technical Barriers: Writing for SEO is highly technical and requires content creation expertise
Summary of Pros: SEO is a high ROI form of advertising that generates organic traffic and positions the firm as a thought leader.
Summary of Cons: SEO is time-consuming and must be diligently focused on for months to achieve results, which are not guaranteed.
PPC - Pros & Cons
Pros Cons
Immediate Traffic: Traffic and leads begin within hours of a campaign launch Cost: Highly competitive keywords can be expensive and more budget must be allocated to scale a campaign
Targeting Capabilities: Geographics, keywords, and demographics can be specifically targeted Short-term ROI: ROI is primarily short-term, as ads stop appearing when budgets are exhausted
Budget Control: Firms can choose the breadth of the campaign via different budget allocations Click Costs: With improper management, click costs can climb, resulting in low or no ROI
Performance Forecasting: Estimated clicks and lead counts are easier to forecast with PPC Ad Blindness: Many users ignore or block ads, and when an ad has been seen several times it fatigues
Competitive Visibility: Ranking for competitive keywords is exponentially easier with PPC Requires Continuous Investment: Continual investment is required to maintain campaigns
Summary of Pros: PPC generates near-immediate leads and traffic from highly targeted keywords, demographics, and geographics.
Summary of Cons: ROI from PPC is short-term and based on a continual budget allocation.
Short-Term and Long-Term ROI Expectations and Benchmarks for SEO vs PPC
Below, we’ve broken down the ROI from SEO and PPC over a 3-year time period. The figures reflect the primary difference between SEO and PPC. With PPC, expect a higher short-term ROI, but lower long-term ROI. For SEO, expect to start slow with ROI steadily climbing over the course of a few years. Further down, we’ll help you choose a strategy based on your firm’s objectives.
ROI Over Time - SEO & PPC
Time SEO PPC
1 Month -100.00% 303.00%
3 Months -66.70% 309.09%
6 Months -16.70% 318.46%
9 Months 37.10% 328.10%
12 Months 148.30% 337.05%
18 Months 370.70% 358.91%
24 Months 593.10% 380.92%
30 Months 815.50% 404.27%
36 Months 1037.90% 425.72%
Key takeaway: Long-term, SEO is a vastly superior strategy. PPC potential ROI becomes marginally better over time as optimizations occur.
Should I prioritize an SEO or PPC campaign for my firm?
The answer to this question lies in your short and long-term goals and current situation. We’ve identified several possible situations firms may find themself in and have provided our recommendation for each.
Situation #1: Your firm has an immediate need for clients. Billables are low and a short-term strategy is needed in order to increase revenues.
Our recommendation: Begin heavily investing in a Google Ads campaign targeting in-the-market clients with high buying intents. You may consider, depending on the services you are looking to acquire new clients for, brainstorming an enticing offer such as a free hour-long consultation in order to form relationships with potential clients. On the back end, a thought leadership-based SEO should be implemented to set the foundation for maximum long-term ROI.
Situation #2: Your firm is coasting and is looking for more clients to take you from profitable to wildly profitable.
Our recommendation: Allocate some marketing spend to a high-targeted Google ads campaign to begin bringing in clients quickly and turning the wheels of the firm. Heavily invest in a thought-leadership based SEO strategy to bolster organic traffic and position your firm as the go-to solution in the marketplace for your ideal client. Expect moderate short-term ROI from Google ads and high long-term ROI from SEO.
Situation #3: Your firm is preparing to scale. Capacity limits are being met and exceeded. Before you invest in the staff and systems to support new clients, you want to make sure the clients will be there.
Our recommendation: For this type of firm, a thought-leadership SEO strategy should be implemented to set the stage for a massive influx of new leads and clients over the following 6-12 months. Ideally, increases in organic traffic from SEO will follow the same timeline as capacity is scaled at the firm. There is no real need for Google ads, as Google ads typically do not contribute to a longer-term ROI.
Bonus: Using SEO and PPC to Identify and Attract Accounting Talent
With the number of accountants looking to enter the workforce rapidly declining, it is no secret firms are pulling every trick in the book to attract the next generation. Further up the ladder, some of the best accountants are being siphoned to corporate finance and investment banking jobs, leaving many firms with massive hiring problems.
The good news is just as SEO and PPC can attract new clients if leveraged correctly, they can also attract new talent just as effectively. If your firm is providing an attractive employment offer, SEO and PPC can position that in front of your ideal employee.
Regarding practical strategy, you must find the unique selling propositions of your firm. Is it high compensation potential? Work-life balance, even during the busy season? What about working from home? Every employment prospect will respond differently to each, and you should solely focus on what your firm provides.
When I did a quick Google search for “accounting jobs with work from home”, there were no firms running ads for that keyword. A well-positioned ad saying “Advance Your Career whilst Working from Home with Partner & Partner Accountants” could generate massive interest in your firm.
Alternatively, imagine ranking at the top of the organic searches for “how to increase compensation as an accountant”. Accountants with low compensation satisfaction will visit your site, putting your firm in front of accountants who are potentially looking for a change.
If you have any questions regarding this post or any SEO or PPC inquiries for your firm, please don’t hesitate to reach out on the Contact Us page.