Average Cost Per Lead of Google Ads has gone up from 5 percent to 19 percent in one year

After observing a four percent decrease in cost per lead, the CPL has gone up in 2022, as twenty-one out of twenty-three industries experienced a rise in their year-over-year CPL.

In comparison to the trend observed in 2021 with just a five percent increase, the ongoing year managed to take it to 19%. Whereas before COVID-19 exposure, in 2019, the cost was almost the same as the one observed in 2022.

In light of the survey conducted by WordStream by LOCALiQ, industries facing difficulties due to the rise in CPL include the entertainment industry, with a significant rise of 134 percent, followed by travel with 69 percent, and the furnishing industry with not greater than 54 percent.

On the other hand, those sectors where CPL went down include insurance companies, with a 2 percent fall, and the educational sector, which went down by 29 percent. The ongoing inflation crisis has affected several areas, and as per the report, conversion rates are one of those areas. It is believed that the crisis is impacting these rates by driving up the cost per lead.

With CPL going sky high, it appears that 91 percent of the companies experienced the setback of falling conversion rates. On average, it is calculated that the overall conversation estimation is at fourteen percent. While comparing these results with the ones observed last year and in 2019, it is evident that the current situation is more significant than in 2021, but what was observed in 2019 is still almost as close to the results recorded in 2022.

With CPL, it appears that the cost per click, or CPC, has also gone up. Though the overall rise observed is just 2 percent, surprisingly, it was experienced by over 57 percent of the industries.

For CPC, things are quite similar to the recording in 2019 as well, just like they are with CPL. In 2019, the figures went up by 6 percent, whereas currently, they are up by 2 percent, while in 2019 and 2020, the stats kept falling.

The survey was based on the results recorded with over seventy-nine thousand LocaliQ campaigns running from October 2021 until September of the current year.

Read next: Americans believe that job postings should be more open and honest
Previous Post Next Post