Know-How Exchange : SEO/SEM

Very broad question - probably too broad to come up with any useful answers for you. There isn't a standard rule of thumb for all businesses, or even for industry segments.

In case you need background info, this seems to be a decent post:
https://www.winwithmcclatchy.com/blog/seo-sem-differences

Some general thoughts:

If you only have small pot of resources, I'd focus on SEO first.

SEO also has a higher up front cost of optimizing a web site, and smaller ongoing costs to manage it an external factors. Those up front costs should pay dividends from that point onward.

SEM costs can be more of a direct correlation between what you spend and what results you get only when you spend it.

The best strategy for achieving a balance between SEO and SEM in digital marketing involves integrating both approaches to maximize visibility and reach across search engines. This includes optimizing website content for organic search (SEO) while also strategically using paid search advertising (SEM) to target specific keywords and audiences, ultimately driving qualified traffic and conversions to your website. Regularly analyzing performance metrics and adjusting your strategy accordingly ensures an effective balance between SEO and SEM efforts.