Google advertising pulls in $100 million a day
While Google's cost per click (CPC) seem to be stealthily declining - with the price of a click now averaging 53 cents - new analysis claims that Google's flagship online advertising products are still pulling in over $100 million advertising dollars a day.
The research, conducted by internet marketing company Wordstream, linked the enormous cash tally to a staggering 5.5 billion daily impressions: "... huge increases in ad impression volumes and clicks (that) more than made up for declines in cost per click and click-through rates," according to Larry Kim, founder and chief technology officer at WordStream.
Flagged as one of the most exhaustive analyses ever conducted of the Google advertising empire, the results of the research provide fascinating insights into online advertising behaviour. Selected nuggets below!
The top ten industry spenders on Google ads In Q3 2012 were:
Jobs & Education
Internet & Telecom
Computers and Electronics
Business & Industrial
Home & Garden
Autos & Vehicles
Beauty & Fitness
Highest Cost Per Click:
The Finance industry stumps up the highest payments for its ads, at over $3 per click on the search network and over $1 per click on the Display Network. It's Google's principal customer for good reason, however, enjoying 1.39 million completed sales or leads a day.
Highest conversion rate:
Despite the healthy number of conversions generated by financial advertising, the best conversion rates were enjoyed by the Internet and Telecom industry, at a 6.27%, followed by the Shopping sector with 6.09% and Beauty and Fitness with 5.63%.
Highest and lowest Click-through rate (CTR):
The industry with the highest average click-through rate is Shopping, with an average CTR of 5.23%, followed by travel at 4.88%. The lowest CTR on Adwords, perhaps surprisingly, was demonstrated by Jobs & Education, with only 1.72% of the industry's ads being clicked.
Lowest Conversion Rate:
Despite its relatively high Click-through rate (above), the Travel industry struggled with conversions, achieving the lowest rate of 1.45%.
Full details of the research and its methodology can be found here.