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Both are indicating SERP ranking but the major difference between SEO or SEM is SEO is unpaid marketing service or SEM is paid marketing service. SEO is little slow then sem for giving result. but it is more static then sem.
As I told you that SEM is paid marketing so it will work till the time that you will put your money for it. but in seo it different. after stopping you seo work you can see it effect.
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