Suppose a similar product is offered by 50 companies, all of whom have been in business for two years. All these companies love their community. 15 of these companies are based out of Tucson Arizona.
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15 Tucson companies offer the same product for approximately the same price. Which would rank for the discovery of this product in Tucson? The website is best adapted. Who else would do this other than an SEO?
Now I think some SEO firms will go out of business if they do not continue to learn, educate, and develop along the playing field. Do you really want to use 90s strategies with today's search engines? If you go to Google's guidelines, you will see the future of how they want search engines to rank websites. If they want their algorithm to work a certain way, then eventually they will take it up to that point.
Service portfolios have already changed over time for many SEO firms. Now I provide content creation to many SEO firms. I have even seen companies offering useful programs and super resource articles such as link bait design.
So back to the original idea of 15 Tucson companies with the same product. The company website that ranks will be the most useful as well as designed with the basic standards expected by search engines.
The meaning of the term SEO has always been in discussion. I have always believed that the term "SEO" refers to the countless tasks that can be done for high search engine rankings.
SEO is not just for link building or keyword optimization or HTML verification. This is everything and anything you can possibly do to get a website within the top 10 for specific keyword searches.