A web property that has a high bounce rate (70% or higher) will not be successful in search engine optimization because Google will down rank content. Instead, they should focus on improving the value proposition, quality, and understanding users better.
Source: Understanding SEO
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How Long Does it Take to See SEO Results?
It takes four to six months to start seeing any results from SEO work. First you’ll see content getting indexed by Google which will result in more impressions. Next, you’ll see the site start to rank for more keywords. If all goes well, you’ll then see clicks to your website. If the site gains authority and content is actually helpful (bounce rate is sufficiently low), it will get ranked higher and drive more clicks.
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In web analytics, the bounce rate is the number of people that arrive on a web page and immediately leave. For search engines, bounce rate is an indicator of the quality of content—if visitors immediately return to look at more search results then the web page didn’t help them.