2 min read

Conversion Rate Benchmarks 2019: How Do You Compare?

How are you measuring the success of your campaigns? We, like many others, use historical data to show the month-on-month improvement our campaigns are making, which is great. It allows us to show we’re doing better than we were before – which must mean our campaigns are a raging success right? Well not quite. We can see we’ve improved against ourselves but how does that stack up against the rest of the industry? 

This is where knowing your industry benchmark figures is key. Measuring your campaign’s performance against the industry averages will show you whether your campaign is truly a success. If you are looking to measure the impact of your content, checking out what UTM and GA can do for you, would also be helpful in tracking success.

As an agency, we’re working with a range of clients, operating in both retail and automotive industries. As a result of this, we need to understand benchmark figures for each of the industries. This helps us know what metrics we should be looking to beat to ensure that our campaigns are operating above and beyond the current industry benchmark. 

Google Ads Conversion Rate

Why are benchmark figures so important to your business? Well, without a benchmark, you have no way to gauge how well you’re actually doing. Reporting based solely on your own historical data can often be very misleading.

For example, let’s say your conversion rate in Q1 was 2% and in Q2 you saw it rise to 2.75% – on the surface this would sound excellent, but you know that the industry benchmark is actually 3.55% – which leaves you quite some way behind the industry average. It suggests there is lots of work that needs to reach and eventually eclipse the benchmark figures, which of course is where we all want our campaigns to reach.

So what is the industry benchmark for your industry? On average as a whole, Google Ads conversions rate is currently 3.17% on the Search Network and o.46% on the Display Network. This is broken down by each industry as follows:

Google Industry Benchmarks Average Conversion Rate

{Image Source: https://www.wordstream.com/blog/ws/2016/02/29/google-adwords-industry-benchmarks}

To conclude, knowing your industry benchmarks are vital for understanding where you truly stand against others in your industry. This only puts more emphasis on the need to continuously optimise your campaign to reach the average marker and ascending beyond that to mark, to lead your industry with highly profitable campaigns. Be sure to stay up-to-date with your industry’s benchmark figures going forward and continue to strive to blow the benchmark out of the water.

Let us know your thoughts on how you’re performing in line with your industry benchmark and comment below or tweet @Honcho_Search.

Driving Digital PR in Automotive: How to Win

5 min read

Driving Digital PR in Automotive: How to Win

Working agency-side in digital marketing often means that you’re expected to be a jack of all trades, with industry expertise stretching across...

Read More
Follow vs No Follow Links: Which One Should You Use?

5 min read

Follow vs No Follow Links: Which One Should You Use?

Discover the importance of follow and no follow links and learn how to optimise your SEO strategy.

Read More
The Perks of Being a Google Premier Partner

2 min read

The Perks of Being a Google Premier Partner

Discover the benefits and advantages of being a Google Premier Partner.

Read More

2 min read

5 Metrics to measure SEO Success

Too many SEO companies are getting away with misleading or non-objective reporting. Why? Well in most cases, it’s simply because they can. The fact...

Read More

Best Link Building Tools for Successful Outreach Campaigns in 2019

Outreach campaigns involve several stages, so it’s important to have the right army of tools at your fingertips. Having the right tools can enhance...

Read More

UK Search Awards 2021

The UK Search Awards are where the great and the good of SEO, PPC, Paid Social and Digital PR gather to mingle, socialise, and make some noise about...

Read More