Do you know how your Google Ads campaigns stack up against your competitors? Since Google does not typically release industry benchmarks, it can be difficult to determine if your PPC ads are performing above or below industry averages. Now you don’t have to guess.
Online marketing company Wordstream recently released the results of its study of over 14,000 U.S. Google Ads PPC campaigns to determine benchmarks across 16 industries, including Legal.
Wordstream examined PPC campaigns across both the Google Search Network and the Google Display Network (a network of two million websites, mobile apps, and video content that run Google ads based on targeting) to arrive at benchmarks for the following:
Click Through Rate (CTR) — measures how many people who saw your ad actually clicked on it. The average CTR for the Legal category is 2.93% on the search network, which is below the average CTR of 3.17%. On the display network, the Legal category is above the average CTR of 0.59%.
Cost Per Click (CPC) — measures how much an advertiser paid for each click. The Legal industry is the highest on the search network with a CPC of $6.75; it is below average on the display network with a CPC of $0.72.
Conversion Rate (CVR) — measures how your ad performs against your conversion goal. When you set up your Google Ads campaign, you have three marketing objectives from which to choose: build awareness, influence consideration, and drive action. If you want to encourage people to download an ebook or sign up for your newsletter, you would choose “drive action.” Your CVR would be the number of people who take action after clicking on your ad. The Legal category has a CVR of 6.98% on the search network and 1.84% on the display network.
Cost Per Action (CPA) — measures the cost per click that converts into a lead. Legal has a CPA of $86.02 on the search network and $39.52 on the display network. Depending upon what you expect to earn from an average client, this may or may not be a good number for your particular firm.
Check out the full infographic below: