When you evaluate your Google AdWords performance and conversion rates, what are you comparing against?
If you’re like most advertisers, your primary source of insight is probably your own historical data. As long as you’re trending towards better than worse, you’re doing great… right?
It’s important to track your performance over time and make sure you’re constantly improving, but using only your own data tells you nothing about how you’re doing against your competitors (AdWords is a live auction, after all).
We recently ran an extensive analysis of more than 2,000 client accounts in all verticals, representing over $34 million in AdWords spend, to establish current, accurate average conversion rate (CVR) benchmarks for both Search and Display ads across 20 different industries: Advocacy, Auto, B2B, Consumer Services, Dating & Personals, E-Commerce, Education, Employment Services, Finance & Insurance, Health & Medical, Home Goods, Industrial Services, Legal, Real Estate, Technology, and Travel & Hospitality.
What is the average conversion rate on Search & Display?
So how do you know whether you’re middle of the road, or getting left in the dust?
We found that on average, Google AdWords advertisers are seeing conversion rates of 2.70% on the Search network, and 0.89% on the Display network.
Benchmarks are an important consideration on top of your own data, because if you were getting 1% conversion for your Search ads and doubled it to 2%, you might think that was pretty awesome. You doubled your CVR, that’s amazing! Woot!
Except you’re still doing 0.7% crappier than the average, and the average isn’t exceptional. It’s just… average.
Don’t settle for average conve…
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