Google Search Ad Benchmarks

This just in from digital marketing player Wordstream – we have Search Advertising Benchmarks for 2023!

I don’t know about you, but I’m very interested in knowing the average cost per click and average cost per lead across industries. I want to see how they compare to HBT Digital clients. 

You should be interested from a lead generation perspective to see what your competitors are paying for performance in your industry.

A few notes:

  • The information below is blended from Google and Bing Ads.
  • This data wasn’t compiled from various ad agencies or PPC managers, it’s only from LocaliQ (agency) campaigns (over 17k campaigns)

“We’re extremely excited to release and share these search advertising benchmarks,” said LocaliQ Chief Sales Officer Jon Camerata. “Between inflation rising at record levels, increased competition, and economic uncertainty, it’s more important than ever to understand how your search campaigns are performing. When done right, search advertising can be a powerful tool for your business. We hope these benchmarks help you feel more confident in the decisions you make to maximize your search advertising success.”

Key Trends

  • Click-through rate (CTR) increased YoY for 22 out of 24 industries.
  • Cost per click (CPC) increased year over year (YOY) for 14 industries.
  • Conversion rate (CVR) decreased YoY for most industries.
  • Cost per lead (CPL) increased YoY for all industries but two (Automotive Sales and Beauty and Personal Care).

National Averages:

About the presented data:

The information above is based on 17,253 US-based search advertising campaigns running between April 1, 2022, and March 31, 2023. Each industry category includes a minimum of 89 unique LocaliQ campaigns. Averages are technically median figures to account for outliers.
Want to see how you can improve your search ad campaign performance? Hit up HBT Digital for a free consultation! Check out our 2023 Digital Marketing Contemplations as well to see if you can get ideas for lead generation campaigns!

RJ Huebert
RJ Huebert is the founder and managing principal of HBT Digital Consulting, a Pittsburgh-based business. A digital marketing professional, he specializes in search engine and social media marketing for B-to-C companies looking for lead generation and online optimization. He is also the co-race director for three Tampa Bay 5K events called The Great Mother’s Day Race, The Great Father’s Day Race, and The Great Gay 5K. The races have had over 12,000 participants and have raised over $7,000 for local charities since 2012. Previously, RJ was the marketing director for a world-wide market research firm, and has held management roles in verticals including healthcare, banking, and for-profit education. Helping local business succeed online is his daily passion, launching 5K events gives him joy, and contributing to the Pittsburgh business scene inspires him. RJ earned his Bachelor of Arts from the University of Pittsburgh and Master of Arts from the University of South Florida, focusing on Strategic Communication Management. Currently, he sits on the American Marketing Association Board of Directors - Pittsburgh Chapter. He resides in Pittsburgh, PA with his wife Taylor, chocolate Lab Coco, and a Jack Russel Terrier named Rosie.