Is SEO Profitable? A Case of Study

Google "Minnesota Internet Marketing Comp...
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Do you think SEO is profitable? According to a friend of mine, buchin, who did some research about profitability of SEO, had made a report on this case right over here. It’s in Indonesian, so you might have to turn your translator on. He managed to get to page #1 of Google SERP and has made his homeworks especially on SEO implementation.

So, this is all about traffic. How about profit margin from SEO implementation? Well we have to wait for his report for that. SEO takes time, so you’d better be patient. So what do you think it will be? Will it convert good and make some sales or not?