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I mean if you can afford to throw your money away at old school marketing techniques like billboards i dont see why you wouldnt throw it at SEO......
Billboards are good if you are morgan and morgan and can fill up an entire highway for name recognition...otherwise you're just burning money. I'll gladly take the money lol..... SEO is kind of the same just on the internet. Unless you're spending $4k/m for a year, you're likewise blowing money.
I don’t have a great answer regarding SEO but my husband is in marketing and he DESPISES billboards. There are no analytics for them (part of the reason he hates them), but it’s unlikely your ROI is very high. He does use SEO in his marketing but unless the company can get you in the top 5 of a Google search, it may not be very helpful. With that being said, it’s probably better than a billboard. Do you maintain your own website? If so, there are likely plugins to assist with SEO