LocalIQ/WordStream reported that the conversion rate for 2024 is 6.96% in 12 out of 23 industries. Conversion rates decreased in Dentists and Dental Services (19.57%) and Finance and Insurance (32.40%). Conversely, conversion rates increased in Career and Employment (80.97%) and Fashion and Jewelry (112.01%). In 2023, the conversion rate was 7.04%, down from 7.85% in 2022, indicating a gradual decline over the years.
Cost per lead (CPL) has increased by 25%, now at $66.69 in 2024 for 19 out of 23 industries. In 2022, CPL had increased by 27%. Click-through rate (CTR) increased by 5% in 70% of industries and is now 6.42%. Cost per click (CPC) is $4.66 in 2024 after a 10% increase in 86% of industries. The industries with the biggest CPC increases were Personal Services, Real Estate, and Sports and Recreation. CPC was $4.01 in 2022 and $4.22 in 2023.
Data courtesy of: LocalIQ/WordStream.
| Business Category | Average Click Through Rate | Average Cost Per Click | Average Conversion Rate | Average Cost Per Lead |
|---|---|---|---|---|
| Animals & Pets | 7% | $3.90 | 12.03% | $34.81 |
| Apparel / Fashion & Jewelry | 6% | $3.39 | 3.33% | $83.10 |
| Arts & Entertainment | 13% | $1.72 | 4.22% | $44.70 |
| Attorneys & Legal Services | 5% | $8.94 | 5.64% | $144.03 |
| Automotive — For Sale | 9% | $2.34 | 6.49% | $42.95 |
| Automotive — Repair, Service & Parts | 6% | $3.39 | 12.96% | $27.94 |
| Beauty & Personal Care | 7% | $3.56 | 8.01% | $48.42 |
| Business Services | 6% | $5.37 | 5.78% | $105.64 |
| Career & Employment | 7% | $4.53 | 5.63% | $117.92 |
| Dentists & Dental Services | 5.38% | $6.82 | 8.36% | $86.49 |
| Education & Instruction | 6.21% | $4.39 | 7.91% | $71.52 |
| Finance & Insurance | 7.71% | $3.00 | 2.78% | $75.94 |
| Furniture | 6.50% | $3.29 | 2.53% | $119.10 |
| Health & Fitness | 6.88% | $4.71 | 7.40% | $61.56 |
| Home & Home Improvement | 5.59% | $6.96 | 8.62% | $82.27 |
| Industrial & Commercial | 5.83% | $4.95 | 6.84% | $77.48 |
| Personal Services | 7.95% | $4.95 | 8.83% | $52.98 |
| Physicians & Surgeons | 6.73% | $4.76 | 11.08% | $59.74 |
| Real Estate | 9.20% | $2.10 | 2.91% | $87.36 |
| Restaurants & Food | 8.68% | $2.18 | 8.72% | $29.67 |
| Shopping, Collectibles & Gifts | 7.81% | $2.61 | 3.49% | $42.10 |
| Sports & Recreation | 9.66% | $2.34 | 5.35% | $49.90 |
| Travel | 10.16% | $1.92 | 5.36% | $66.02 |
Which industry has the highest average conversion rate?
Personal Services with an average conversion rate of 8.83%.
Which industry has the lowest average cost per lead?
Automotive — Repair, Service & Parts with an average cost per lead of $27.94.
Which industry has the highest average click-through rate?
Travel with an average click-through rate of 10.16%.
Which industry has the lowest average conversion rate?
Finance & Insurance with an average conversion rate of 2.78%.
Which industry has the highest average cost per click?
Attorneys & Legal Services with an average cost per click of $8.94.
Which industry has the highest average click-through rate among those listed?
Travel leads with an average click-through rate of 10.16%.
What industry has the lowest average cost per click?
Real Estate, with an average cost per click of $2.10.
Which industry exhibits the highest average conversion rate, apart from Personal Services?
Physicians & Surgeons, with an average conversion rate of 11.08%.
Among the industries listed, which one has the highest average cost per lead?
Attorneys & Legal Services, with an average cost per lead of $144.03.
What is the average click-through rate for the Apparel / Fashion & Jewelry industry?
6%.
Which industry shows the highest average cost per click after Attorneys & Legal Services?
Business Services, with an average cost per click of $5.37.
What is the average conversion rate for Dentists & Dental Services?
8.36%.
Which industry has the lowest average conversion rate after Finance & Insurance?
Furniture, with an average conversion rate of 2.53%.
What is the average cost per lead for Education & Instruction?
$71.52.
Which industry has the highest average click-through rate after Travel?
Sports & Recreation, with an average click-through rate of 9.66%.
What is the average cost per click for Health & Fitness?
$4.71.
Which industry has the lowest average conversion rate after Furniture?
Real Estate, with an average conversion rate of 2.91%.
What is the average click-through rate for Industrial & Commercial?
5.83%.
Which industry has the highest average cost per click after Business Services?
Dentists & Dental Services, with an average cost per click of $6.82.
What is the average conversion rate for Restaurants & Food?
8.72%.
by Arooj Ahmed via Digital Information World
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