A new report shows that the cost per lead has increased for about 91% of industries in Google. The hardest hit industries are Arts & Entertainment (up 134%), Travel (up 69%), and Furniture (up 54%). <\/p>\n
Industries that saw a decrease in cost per lead are Finance & Insurance (down 2%), and Education and Instruction (down 29%). <\/p>\n
Making sense of the data. <\/strong>LocaliQ speculates that the reason for the increases is inflation, broad keyword matching, and competition. <\/p>\n It makes sense that the industries listed above are affected, since during and post-pandemic, people are looking for things to do outside the home, are traveling more often, and continuing to see supply shortages affecting furniture delivery. <\/p>\n Conversion rate decline.<\/strong> The report also shows a decrease in conversion rate, likely due to broad match keywords pulling in more general, top-funnel searches and clicks. 91% of industries saw a decrease of about 14% overall. To put that into perspective, in 2019 we saw a 12% decrease. <\/p>\n Cost per click (CPC). <\/strong>CPC has slightly increased slightly with about 57% of industries affected. In 2020 and 2021 there were also decreases in CPC (-4% and -1% respectively), but in 2019 there was a 6% increase.\u00a0 <\/p>\n <\/p>\n Get the daily newsletter search marketers rely on.<\/p>\n<\/div>\n Processing\u2026Please wait.<\/p>\n<\/div>\n \t\t\t\t\t\t\t