SEO in this case means "Search Engine Optimizer", a person or firm engaged in the art/science of modifying your website so that it will appear higher in search engine results pages.
If you don't use an SEO now, you've probably been solicited by one. There are a few large firms who are notorious high-pressure cold callers, with big promises and questionable ethics. There are also a great many hard-working, honest and innovative SEOs who can help your business.
So yes, you should hire an SEO if you can reach an understanding of what they can and will do for you. Here are some questions you should ask before hiring an SEO:
Q: Do you have experience in my industry?
If yes, ask for client references and call them. Ask references about the quality of the SEO's writing, their responsiveness, and their willingness to teach.
Q: How soon will I see results?
This is a trick question. An SEO cannot wave a magic wand over your site code and immediately deliver a top 3 ranking for a competitive search term like "furniture" or "mattress" or "digital camera". If anyone insists they can do this, run away, because they are either lying or will do something (in your name), that ends up harming your brand and your company. SEO is a long-term strategy, never a quick fix.
These two questions will lead you to other questions and give you a good sense of whether this is someone you can work with or not. Try negotiating a limited engagement first, perhaps with one section of your website. A "test drive" will limit your risk and motivate the SEO to do their best work. If they dazzle you, then hire them and hold them to the same standard for the rest of their work.
A final, and vital point: hiring an agency to handle some part of your marketing will never be a "set it and forget it" proposition. The best agencies in the world need to work closely and often with their clients to produce superior results.
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