What to Know:
– Wordstream by LOCALiQ has released its latest benchmarks for Google Ads performance in 2023.
– The benchmarks cover various metrics such as click-through rate (CTR), cost per click (CPC), conversion rate, and cost per acquisition (CPA).
– The data is based on a sample of over 10,000 Google Ads accounts across different industries and regions.
– The benchmarks can help advertisers understand how their campaigns are performing compared to industry averages and identify areas for improvement.
The Full Story:
Wordstream by LOCALiQ has recently published its latest benchmarks for Google Ads performance in 2023. These benchmarks provide advertisers with valuable insights into how their campaigns are performing compared to industry averages.
The data used for the benchmarks is based on a sample of over 10,000 Google Ads accounts across various industries and regions. By analyzing this data, advertisers can gain a better understanding of the average performance metrics in their industry and identify areas where they can improve their campaigns.
Here are some key findings from the 2023 benchmarks:
1. Click-Through Rate (CTR)
– The average CTR across all industries is 3.17%.
– The highest average CTR is in the dating and personals industry, with 6.05%.
– The lowest average CTR is in the legal industry, with 1.35%.
2. Cost Per Click (CPC)
– The average CPC across all industries is $2.69.
– The highest average CPC is in the legal industry, with $6.75.
– The lowest average CPC is in the dating and personals industry, with $1.32.
3. Conversion Rate
– The average conversion rate across all industries is 4.40%.
– The highest average conversion rate is in the advocacy industry, with 8.96%.
– The lowest average conversion rate is in the dating and personals industry, with 1.75%.
4. Cost Per Acquisition (CPA)
– The average CPA across all industries is $48.96.
– The highest average CPA is in the legal industry, with $135.17.
– The lowest average CPA is in the dating and personals industry, with $19.35.
These benchmarks provide advertisers with a benchmark to compare their own campaign performance against. By knowing the industry averages, advertisers can identify areas where their campaigns are underperforming and make necessary adjustments to improve their results.
For example, if an advertiser in the legal industry has a higher than average CPC, they can analyze their campaign structure, keywords, and ad copy to identify opportunities for optimization. Similarly, if an advertiser in the dating and personals industry has a lower than average CTR, they can experiment with different ad formats and messaging to improve engagement.
It’s important to note that these benchmarks are just averages and individual campaign performance can vary based on various factors such as targeting, budget, and competition. However, they provide a useful starting point for advertisers to assess their performance and set realistic goals.
In addition to the industry benchmarks, Wordstream by LOCALiQ also provides benchmarks for specific industries and regions. This allows advertisers to compare their performance to more specific subsets of data and gain insights that are more relevant to their own campaigns.
In conclusion, the 2023 benchmarks from Wordstream by LOCALiQ provide advertisers with valuable insights into Google Ads performance across various industries. By comparing their own campaign metrics to these benchmarks, advertisers can identify areas for improvement and optimize their campaigns for better results.
Original article: https://www.searchenginejournal.com/what-is-a-good-ctr-for-google-ads/492785/