The typical cost per click (CPC) for a search ad in 2022 ranges between $2 and $4, with Attorneys & Legal Services, Dentists & Dental Services, and Home & Home Improvement owning the highest average CPC, between $6 and $8 per click.
Click-through rates for these industries tend to run lower than others, which can drive up CPCs, according to data released Wednesday from WordStream by LOCALiQ.
WordStream by LOCALiQ, a Gannett-owned digital marketing brand, on Wednesday released its 2022 Search Advertising Benchmarks for Every Industry, which supports data across four performance metrics for more than 20 industries.
The report also includes takeaways and tips to improve performance.
The data is pulled from more than 18,000 LOCALiQ client campaigns and advertisements that ran during 2021 and Q1 2022.
The findings share the average cost per click, cost per lead, click-through rate, and conversion rate for search ads across 23 industries.
For example, the Attorneys & Legal Services category saw an $8.67 average cost per click, $83.10 for average cost per lead at an average click-through rate of 4.24.
The industries with the lowest CPC include Real Estate, Arts & Entertainment, and Travel -- all under $2. These industries all have generally high click-through rates (CTRs).
Beauty & Personal Care, and Finance & Insurance CPCs saw the biggest decline -- of 17% and 11%, respectively.
Travel and Furniture saw the biggest increase --of 16% and 12%, respectively. The data attributes the increase in Travel CPC to increased competition as COVID restrictions eased during 2021 and people began traveling more frequently.
The average conversion rate for Arts & Entertainment saw a 34% increase while Shopping, Collectibles & Gifts and Fashion both decreased by more than 50%.
The biggest change in cost per lead year over year is in Career and Employment, which rose 52% to $81.
The analysis from the data attributes the increase to the change in employment dynamics in the United States, including many employees changing jobs or careers during the past year.