Cost per click has increased only slightly.

While this is a stronger decrease than last year, it is not far off from 2019’s 12% decrease. 91% of industries saw a decrease in conversion rate, with an average overall decrease of 14%.

Conversion rate has decreased significantly.

As we’ll discuss in the key takeaways, inflation appears to be the main driver here.

The biggest increases in CPL were in Arts/Entertainment (+134%), Travel (+69%), and Furniture (+54%) while Education/Instruction (-29%) and Finance/Insurance: (-2%).

This is significantly higher than last year’s increase of 5%, in contrast to 2020’s decrease of 4%, but actually similar to 2019’s increase of 21%. 21 of 23 industries saw an increase in cost per lead (CPL) year over year, with an average overall increase of 19%.

Cost per lead has increased significantly.

Here are the most important trends to know: Note that our proprietary platform dynamically shifts budget between search channels on a per-campaign basis, but in aggregate, 80-85% of budget is allotted to Google and 15-20% to Microsoft. Our latest Google Ads industry benchmarks report provides the average click-through rate (CTR), cost per click (CPC), conversion rate (CVR), and cost per lead (CPL) for 23 industries. ✴️ Get the PDF of this report here > Google Ads Benchmarks Report Key trends

Google pay per click cost