You cannot do SEO of a react application. You have to use SSR for it. And yes you can update your existing MERN to Nextjs application but its a lengthy manual process
- Routing (NextJs has a different way of routing)
- Way of Importing Styles
- Run Scripts in package.json
- If you have used browser things like window objects, localStorage then you have to handle those in SSR
And there may be other issues you might face while running the app.
To answer your second question SSR is the only way without SSR you can't SEO the Mern application.
And for the third question:
- Go with NextJs if SEO is a must and you want SSR (Ex: E-Commerce Site, Personal Site)
- Go with React if no SEO (Ex: Admin Panel, Specific User-based Web App).
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React JS Training by Edureka.