Google ads are one of the best ways to ensure your business is getting seen by as many people as possible, and it’s become one of the easiest ways to do online marketing. There are plenty of different industries that have been utilizing this fantastic strategy to make sure they can be easily found by local residents. If you have wondered if using Google ads will help your business, look at this great article where we’ll talk about the Google ad costs throughout different industries so you can see if it will work for you.
What makes a Good Google Ad?
If you have ever searched for a local music store or a new restaurant menu on Google, you know it works well when getting new customers to your page. When it comes to Google Ads, we look at a few different statistics to determine whether or not they are working well for the business. Let’s look at a few things you need to know before you see the best industries.
CTR:
CTR stands for click-through rate. This measures how often people continue to the page after seeing the ad for the first time. If you have an ad for a new restaurant and you advertise it to 100 people, but only 2 click the link, your click-through rate would be 2%.
Search Network Vs. Display Network:
When you search for a specific term (such as “aromatherapy oil”), you will be provided with links that are relative to your search. This is the “search network,” often where most of the advertising traffic comes from. If you are browsing a different website later on and see an ad for something related to your search (such as a wellness product or an oil diffuser), this falls under the “google display network”. These are sometimes considered “targeted ads”. As well, they can be a great way to remind people about things they were browsing before.
CPC:
This stands for cost per click, and it is the amount of money you are willing to pay for a click to your website. This is sometimes known as PPC (pay-per-click), and it can be done in a few different ways, depending on your budget.
Conversion rate: A conversion rate is the number of times people have taken the action you are requesting (such as signing up for a newsletter) when they have visited the site compared to the number of times people didn’t. It is similar to a click-through rate but tracks the number of people willing to interact with the website instead of just viewing it.
Let’s go through a few industries and see what they pay for their Google Ads. We’ll compare the average click-through rate with the average cost per click. This is so you can get a good idea of which industries benefit from Google ads and which ones should put their money elsewhere.
Automotive
The auto industry has always relied on television to advertise its products, but they have started doing well with online advertising. The average CTR for the auto industry is about 4% for searches and 0.60% for the display network. This shows that many people have been relying on their initial searches over targeted ads when it comes to buying their new car.
The average cost per click is $2.56 for searches and $0.58 for the display network. Their conversion rate is 6.03% for searches (1.19% for display network) which is above average. This shows the auto industry is getting a good number of new customers for their Google ads.
Real Estate
Real estate has become a huge online presence. This is especially true since the pandemic took away many in-person sales tactics that agents rely on. The average CTR for real estate is 3.71% for searches and 1.08% for display networks. They have the highest click-through rate for the display network. This could be due to the number of beautiful home photos that easily distract web users.
The real estate industry has gotten one of the best boosts when it comes to advertising online when compared to many other sectors. The average CPC for the real estate industry is $2.37 for searches and $0.75 for the display network. Their conversion rate is slightly lower than the average at 2.47% (0.80% for the display network). However, this could be since many conversations with realtors are made outside of the website.
Technology
This one seems like a pretty big no-brainer as most people are always searching for the newest phone or the best computer for their lifestyle. However, you might be surprised. The average cost per click is quite high at $3.80 for searches ($0.51 for the display network). They have one of the lowest click-through rates (2.09% for inquiries and only 0.39% for the display network). They also have one of the lowest conversion rates out of all of the industry’s measures (2.92% for searches and 0.86% for the display network). So, they are a great example of an industry that could be utilizing Google ads in a much better way.
Finally, using Google Ads is a great way to bring new people to your website. It lets people know about new things you might have listed. There are many different tips and tricks you can use on your ads to make them more appealing. As well, there are a few different metrics you can look at that will let you know how well they are doing. If you want to get the word out there about your business, make sure you are working with an advertising company that knows what they’re talking about when it comes to using Google ads, and you’ll see a rise in new customers in no time.
