Digital Advertising Benchmarks
Trends we saw in 2023
- Cost per lead has increased significantly. The cost per lead has experienced a notable surge, as evidenced by increases across 21 of the 23 industries examined year over year. On average, there has been an almost 20% rise, reflecting the impact of record inflation and an unstable economy, contributing to elevated prices across various sectors.
- Conversion rate has decreased significantly, with 91% of industries witnessing a decrease, resulting in an average overall decline of 10%.
- Cost per click has increased only slightly. While the cost per click has seen a slight uptick, with just over 60% of industries experiencing an increase, the overall average rise stands at 5%.
- Click-through rate has improved. On a positive note, click-through rates have shown improvement, with 91% of industries in our report noting an increase year over year and an average overall rise of 3%.
See below for benchmarks from different industries from industry aggregator WordStream!