Google Search Ads Continue to Struggle

Google Search Ads continue to demonstrate higher CPLs (cost per lead) and lower conversion rates across most key verticals.

The 2023 data is in, and the recent trend we’ve been monitoring continues to show signs of declining effectiveness. In aggregate, CPL is up 20% year-over-year for Google Search Ads. Likewise, conversion rate has dropped 10% across all industries combined over the past 12 months.

In a study of over 17,000 campaigns through Q1 2023, 91% of the industries measured showed year-over-year increases in CPL. Likewise, conversion rates for Google Search Ads continued to decline.

Some of the key industries showing the most alarming increase in CPL:

  • Real Estate: +46% CPL
  • Furniture: +45% CPL
  • Legal: +34% CPL
  • Physicians & Surgeons: 26% CPL
  • Financial & Insurance: +23% CPL

Conversion rates fell dramatically in key verticals as well:

  • Finance & Insurance: -26% Conversion Rate
  • Legal: -24%
  • Dentists: -23%
  • Real Estate: -18%
  • Physicians & Surgeons: -12%

Clearly, in 2024 business owners will need intelligent strategy to realign their media positions for growth.

To read more about this data, visit MediaPost:
Search Ads Cost Per Lead Rise, Conversions Fall 05/16/2023

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