23.06.2023

SEO & Paid Media

Huble Google Ads Benchmarks for 2023

105 min read

Kostas

Huble Google Ads Benchmarks for 2022

Using our clients’ Google Ads campaigns performance we have produced performance benchmarks for our 2022 campaign activities.

At Huble, we run a multitude of Google Ads campaigns for various industries every year. These campaigns have different goals and use a plethora of campaign types. We have collected all this data to provide performance benchmarks for the past year - which we always strive to exceed. In this article, you will find the results of this exercise.

To provide the most accurate results for each particular occasion, we have separated our data using several dimensions in our analysis. In the breakdown below the most basic separation is done based on the campaign type (search, display and video).

We break down the metrics according to branded/non-branded activity, funnel stage, and region. Branded/non-branded activity applies only to search campaigns. The funnel stages are divided into Top (TOFU), Middle (MOFU), and Bottom (BOFU). The regions are divided into AMER, EMEA, APAC, and global.

Since the analysis is being conducted on a campaign level there were some limitations in this breakdown. For example, when campaigns are targeting countries from two or more of the aforementioned regions they are classified as global. There were no true global campaigns.

Let’s dive into the results.

Google Search ads benchmarks

The benchmarks shown here are presented by each metric in the following sequence click-through rate (CTR) → cost per click (CPC) → conversion rate → cost per acquisition (CPA). Note that in most cases our conversions match contacts and not plain form submissions.

Google Search ads CTR benchmarks

Our 2022 average CTR for search campaigns was 5.83%. Branded campaigns had an average CTR of 14.04%. Non-branded campaigns had an average CTR of 4.20%.

Non-branded activity delivered 3.15% in AMER, 4.40% in EMEA and 4.06% in APAC. Branded activity delivered 28.87% in AMER, 9.66% in EMEA and 21.19% in APAC. Campaigns targeting a combination of regions saw an average of 5.95% from non-branded activity and 8.81% from branded activity.

In the tables below we demonstrate a breakdown of non-branded activity CTR for the various industries and funnel stages: 

Industry

CTR

Art

9.28%

Business Consulting and Services

3.38%

Education

6.25%

Electronics Manufacturing

8.18%

Fintech

4.08%

Hospitals and Health Care

6.70%

IT Services

4.13%

Pharmaceutical

5.89%

Real Estate

2.83%

Restoration

5.21%

Software Developer

5.09%

Grand Total

4.20%

 

Funnel Stage

CTR

BOFU

3.37%

MOFU

5.57%

TOFU

4.10%

Grand Total

4.20%

Google Search ads CPC benchmarks

Our 2022 average cost-per-click (CPC) for search campaigns was R19.04. Our branded campaigns had an average CPC of R10.47. Non-branded campaigns had an average CPC of R24.76.

Regarding regional breakdown for non-branded activity, AMER had an average of R67.43, EMEA had R23.35, and APAC had R13.10. For branded activity, AMER had an average of R9.76, EMEA had R8.09, and APAC had R25.23. Campaigns targeting a global audience had an average of R23.80 for non-branded activity and R14.76 for branded activity.

We demonstrate a breakdown of CPC for different industries and funnel stages for non-branded activity in the tables below.

Industry

CPC

Art

R5.00

Business Consulting and Services

R21.44

Education

R23.59

Electronics Manufacturing

R21.68

Fintech

R243.72

Hospitals and Health Care

R18.58

IT Services

R155.57

Pharmaceutical

R10.72

Real Estate

R16.92

Restoration

R7.62

Software Developer

R50.03

Grand Total

R24.78

 

Funnel Stage

CPC

BOFU

R23.59

MOFU

R35.74

TOFU

R18.58

Grand Total

R24.77 

Google Search ads conversion rate benchmarks

Note that the results demonstrated here only take into account campaigns where their goal included some type of form-fill conversion.

The conversion rate of our search campaigns in 2022 was 7.59%. Branded campaigns had an average Conversion Rate of 12.59%. Non-branded campaigns had a conversion rate of 3.51%

Our overall conversion rate is skewed due to our branded campaigns. For a few clients, these campaigns constitute a significant part of their Google Ads activity.

For non-branded activity, 3.59% occurred in AMER, 3.89% in EMEA, and 1.92% in APAC. For branded activity, 18.04% occurred in AMER, 8.26% in EMEA, and 15.11% in APAC. Campaigns targeting a combination of regions had an average of 4.05% non-branded activity and 2.49% branded activity

We have broken down the Conversion Rate for the various industries and funnel stages for non-branded activity. This information is displayed in the tables below.

Industry

Conv. Rate

Art

7.96%

Business Consulting and Services

2.79%

Education

4.23%

Electronics Manufacturing

1.36%

Fintech

0.57%

Hospitals and Health Care

1.59%

IT Services

6.63%

Pharmaceutical

15.55%

Real Estate

2.56%

Restoration

2.86%

Software Developer

3.48%

Grand Total

3.51%



Funnel Stage

Conv. Rate

BOFU

2.98%

MOFU

2.92%

TOFU

4.51%

Grand Total

3.51%

 

Google Search ads CPA benchmarks

Again, the results demonstrated here only take into account campaigns where their goal included some type of form-fill conversion. The average CPA for search campaigns in 2022 was R268.65.

Our branded campaigns had an average CPA of R82.17. Non-branded campaigns had an average CPA of R815.73. The overall number is drastically affected by the amount of branded activity in some of our client accounts. Similar to what can be seen from previous metrics.

Non-branded activity in AMER yielded R2102.08, in EMEA R651.39, and in APAC R952.20. The respective averages for branded activity were R54.54 (AMER), R95.7 (EMEA), and R167.19 (APAC). Campaigns targeting multiple regions yielded an average of R575.13 from non-branded activity and R596.09 from branded activity.

We have broken down the CPA for different industries and funnel stages for non-branded activity in the tables below.

Industry

CPA

Art

R61.47

Business Consulting and Services

R1096.41

Education

R558.45

Electronics Manufacturing

R1573.14

Hospitals and Health Care

R1177.17

IT Services

R2348.87

Pharmaceutical

R109.12

Real Estate

R664.47

Restoration

R263.98

Software Developer

R1420.18

Grand Total

R815.99

 

Funnel Stage

CPA

BOFU

R772.63

MOFU

R1243.64

TOFU

R583.46

Grand Total

R816.26 

Google Display ads benchmarks

In 2022, fewer of our clients ran Display campaigns than Search campaigns. Therefore, we have a shorter list of industries to display in the tables below. The benchmarks will be shown below in the same sequence as before (CTR → CPC → Conv. Rate → CPA)

Google Display ads CTR benchmarks

Our average CTR across all industries and regions in 2022 has been 0.44%.

There was a significant variation in values among industries as can be seen in the table below:

Industry

CTR

Business Consulting and Services

0.94%

Electronics Manufacturing

2.05%

Fintech

1.09%

IT Services

0.04%

Pharmaceutical

0.10%

Real Estate

0.37%

Software Developer

0.89%

Grand Total

0.44%

 

However, not too much variation can be seen when looking at a funnel stage breakdown:

Funnel Stage

CTR

BOFU

0.50%

MOFU

0.51%

TOFU

0.40%

Grand Total

0.44%

 

Finally, it is interesting to see the differences in CTR between different regions. APAC appears to have a significantly higher CTR than all other regions.

Region

CTR

AMER

1.62%

APAC

4.71%

EMEA

0.28%

Global

0.60%

Grand Total

0.44%

 

Google Display Ads CPC Benchmarks

The average CPC for display campaigns across all of our clients was R10.01 in 2022.

There is a significant deviation between industries when it comes to CPC numbers. Additionally, there is a negative correlation between CPC and CTR, as expected.

Industry

CPC

Business Consulting and Services

R6.91

Electronics Manufacturing

R2.14

Fintech

R49.09

IT Services

R109.87

Pharmaceutical

R32.41

Real Estate

R4.05

Software Developer

R2.62

Grand Total

R10.01 

There is also a high deviation for CPC when looking at the funnel stage breakdown. However, it is important to note that the majority of our display campaigns were considered TOFU.

Funnel Stage

CPC

BOFU

R9.29

MOFU

R4.05

TOFU

R13.11

Grand Total

R10.01 

Competition for Google Ads is strongest in AMER and EMEA. As a result, the average CPC is higher than in other regions.

Region

CPC

AMER

R10.24

APAC

R1.67

EMEA

R14.77

Global

R3.34

Grand Total

R10.01 

Google Display ads conversion rate benchmarks

On the conversion rate side, our overall activity in 2022 demonstrated a 3.46%. We must acknowledge that this data is heavily influenced by the success of one industry. As can be seen below this industry is software developer.

Industry

Conv. Rate

Business Consulting and Services

0.15%

Electronics Manufacturing

0.16%

Fintech

0.15%

Pharmaceutical

0.17%

Real Estate

0.63%

Software Developer

16.29%

Grand Total

3.46%

 

Due to the above, we decided to split the below results into two categories. One for software developers and one for all the other industries. There is no data for TOFU campaigns in the software developer industry. Additionally, there is no data for BOFU campaigns in the other industries.

 

Funnel Stage - Soft. Dev.

Conv. Rate

BOFU

9.84%

MOFU

17.30%

Grand Total

16.29%



Funnel Stage - Other

Conv. Rate

MOFU

0.31%

TOFU

0.16%

Grand Total

0.20%

 

There is no APAC data for the software developer industry in the below tables. This is because there has been a lack of activity in that region for our relevant clients.

 

Region - Soft. Dev.

Conv. Rate

AMER

7.39%

EMEA

9.88%

Global

17.79%

Grand Total

16.29%



Region - Other

Conv. Rate

AMER

0.08%

APAC

0.16%

EMEA

0.29%

Global

0.06%

Grand Total

0.20%

 

Google Display ads CPA benchmarks

The average CPA for display campaigns we ran in 2022 was R298.27. Similarly to the conversion rate results, this was heavily skewed by the software developer industry. As before we have split the results below accordingly.

Industry

CPA

Business Consulting and Services

R4533.68

Electronics Manufacturing

R1193.57

Fintech

R32461.41

Pharmaceutical

R20619.3

Real Estate

R630.86

Software Developer

R15.72

Grand Total

R298.38 

As expected the below numbers have the same limitations as in the Conversion rate results.

Funnel Stage - Soft. Dev.

CPA

BOFU

R93.42

MOFU

R8.82

Grand Total

R15.73

 

Funnel Stage - Other

CPA

MOFU

R823.65

TOFU

R9985.81

Grand Total

R6204.55

 

Region - Soft. Dev.

CPA

AMER

R22.88

EMEA

R41.95

Global

R15.01

Grand Total

R15.73

 

Region - Other

CPA

AMER

R15929.15

APAC

R954.01

EMEA

R6235.29

Global

R5413.55

Grand Total

R6204.55 

Google Video ads benchmarks

A small amount of our client campaigns used the Google Video Ads campaign type in 2022. Thus the list of industries shown below is shorter than Display and Search.

Google Video ads CTR benchmarks

In 2022 our video ad campaigns on Google demonstrated an average CTR of 0.17%. As can be seen in the table below there are some large variations among different industries.

Industry

CTR

Art

0.20%

Beverage (alcohol)

0.05%

Business Consulting and Services

0.19%

Electronics Manufacturing

0.18%

Pharmaceutical

0.06%

Real Estate

0.48%

Software Developer

0.42%

Grand Total

0.17%

 

There are also large variations in the rates for the different funnel stages

Funnel Stage

CTR

BOFU

0.54%

MOFU

0.11%

TOFU

0.33%

Grand Total

0.17%

 

The AMER region shows a multiple times higher CTR than any other region while EMEA demonstrates the lowest CTR.

Region

CTR

AMER

1.70%

APAC

0.51%

EMEA

0.13%

Global

0.41%

Grand Total

0.17%

Google Video ads CPC benchmarks

Our average CPC for video ads campaigns via Google Ads was R22.42 in 2022. Large variations can again be observed depending on industry and this is to be expected due to differences in competition.

 

Industry

CPC

Art

R28.86

Beverage (alcohol)

R69.63

Business Consulting and Services

R16.22

Electronics Manufacturing

R94.2

Pharmaceutical

R72.02

Real Estate

R8.82

Software Developer

R11.92

Grand Total

R22.42 

At the same time, large variations can also be observed for the different funnel stages and regions.

Funnel Stage

CPC

BOFU

R13.59

MOFU

R34.58

TOFU

R10.73

Grand Total

R22.42

 

Region

CPC

AMER

R13.12

APAC

R6.92

EMEA

R27.9

Global

R14.78

Grand Total

R22.41 

Google Video ads conversion rate benchmarks

The number of campaigns aiming to achieve conversions was even smaller. Therefore, the list of industries included here is even shorter than for previous metrics of the video ads campaigns.

Our average conversion rate for video ad campaigns in Google Ads was 0.46%. A large variation in the value of the metric can be observed based on industry, funnel stage, and region. 

This is true even with this small number of industries. It is also important to note that we did not run any pure AMER or APAC targeting campaigns.

Industry

Conv. Rate

Art

1.18%

Business Consulting and Services

0.27%

Real Estate

0.85%

Software Developer

0.03%

Grand Total

0.46%



Funnel Stage

Conv. Rate

BOFU

0.87%

MOFU

0.38%

TOFU

0.44%

Grand Total

0.46%



Region

Conv. Rate

EMEA

0.51%

Global

0.31%

Grand Total

0.46%

 

Google Video ads CPA benchmarks

Finally, we present the CPA benchmarks for our video ads campaigns on Google Ads. The average CPA across all accounts in 2022 was R3448.68

There is a large variation in CPA based on industry, funnel stage, and region. As expected, these numbers are inversely correlated with conversion rate values.

Industry

CPA

Art

R2145.8

Business Consulting and Services

R10435.21

Real Estate

R1048.70

Software Developer

R37647.39

Grand Total

R3448.68

 

Funnel Stage

CPA

BOFU

R1560.64

MOFU

R5376.29

TOFU

R2697.09

Grand Total

R3448.68

 

Region

CPA

EMEA

R3168.50

Global

R4727.25

Grand Total

R3447.12 

More content will be published for benchmarks in activities we ran using LinkedIn Ads and Facebook (Meta) Ads.

If you are looking to take your PPC campaigns to the next level, Huble’s PPC consultancy can help. Our experienced consultants have helped hundreds of businesses leverage their analytics, refine their targeting and maximise their PPC performance. 

Speak with our team today to unlock the full potential of your paid media efforts.

Book a free SEO audit

Your website is your most valuable sales and marketing tool, so it needs to be as optimised as it can be. Uncover opportunities to boost your rankings with a free SEO audit.

Latest Insights

Sales & CRM

17 min read

How to plan for a successful HubSpot Implementation

Key aspects of planning and managing HubSpot implementation. We'll guide you through every step to ensure a successful HubSpot implementation.

Read more

Sales & CRM

92 min read

The true cost of HubSpot: Exploring HubSpot's Total Cost of Ownership

This guide takes a look at the total cost of ownership (TCO) of HubSpot as well as the TCO of Marketing Hub, Sales Hub, Service Hub and Content Hub.

Read more

Sales & CRM

20 min read

HubSpot HIPAA compliance: everything you need to know

Explore HubSpot's HIPAA compliance. We cover the basics of HIPAA, challenges HubSpot faced, and HubSpot's new tools to meet compliance requirements.

Read more

Marketing & Growth

23 min read

Enhancing your marketing processes with HubSpot AI

Learn how you can integrate HubSpot’s AI assistants into your marketing processes to optimise your efforts and supercharge efficiency. 

Read more

Sales & CRM

27 min read

HubSpot user adoption: a comprehensive guide to boosting CRM adoption

Explore strategies, best practices, and tools to drive user adoption in HubSpot, ensuring a smooth transition and maximising user engagement.

Read more

Sales & CRM

15 min read

How to structure your marketing department for success

To keep ahead of the digital curve, companies are rethinking their marketing department. Learn how best to structure your marketing team.

Read more

Sales & CRM

37 min read

An Introduction to CRM and how it can transform your business

The vast majority of businesses aren’t getting the value from their CRM that they could be. Use this guide to make more effective CRM decisions.

Read more

Sales & CRM

31 min read

50 simple HubSpot hacks for guaranteed company growth

As a HubSpot Elite Solutions Partner, we want to make it easier for you to get started with HubSpot: 50 HubSpot hacks that you can use right now!

Read more

Marketing & Growth

10 min read

Why it might be time to consolidate marketing agencies

Learn why & when to consolidate your marketing efforts with an agency specialising in strategy, creative solutions & technical expertise.

Read more

Technical & Integrations

5 min read

HubSpot’s cookie consent banner update: What you need to know

HubSpot is updating its cookie consent banner to version 2 on July 5, 2024. Here’s what you need to know about the update & how to prepare for it.

Read more