Here at Dream Digital we always want to keep you in the know when it comes to everything PPC so that we’re all top of our game. Here are the PPC benchmarks that you need to know so far for 2023:
It is inevitable and important to know that elements of running Google ads campaigns have been on the increase similarly to the current cost of living increases that we’ve all been experiencing.
- Cost per lead has increased with an average increase of nearly 20%. This shouldn’t come as a surprise as record inflation has lead to an increase in prices across the board.
- Cost per click has increased only slightly by about 5% on average overall.
- Click through rate has improved with an average overall increase of 3%.
- Google Ads is still the top form of Digital Marketing advertising used by businesses and as 89% of buyer journeys start with a search engine and PPC averaging a 200% ROI it’s no wonder that so many businesses use Google Ads to generate leads and sales.
- This PPC benchmark data is a great way to put your search results into context for you and as a reference to where your business sits in the PPC landscape. We do the work to keep you top in PPC with highly optimised PPC campaigns to ensure that they generate increased leads and sales.
Google Ads is top of the PPC list and with the inflation level so high it’s more important than ever to keep top performance for a high return on investment.
So here are our recommendations based on our recent experience of working with lots of top performing Google Ads accounts so far in 2023:
- Be as flexible as possible with budget. Especially now that we are dealing with a higher cost per lead across the board it needs to be communicated that to keep up with the rising costs, advertisers need to spend money to make money. The same rules apply here, the more budget spent = more leads when spent correctly. More budget will go a long way but if you’re operating on too little a budget then you’re just wasting your money as you’re not being competitive enough and will fall short when up against competitors. The additional budget allotted can be put to good use by adding to the campaigns that are already gaining a strong level of leads for an increase in leads and ultimately a strong return on investment.