It can be hard to keep up with all the important news in digital advertising, so we’ve put together a few of the most important statistics for you to know this week.
7 in 10 marketers believe text ads are their most effective method of PPC Advertising.
This from a survey by Hanapin Marketing of more than 400 marketing professionals from both brands and agencies. When asked for their most and least effective PPC channels, 71% responded that PPC was yielding the best results, whilst almost half reported that display ads were least effective.
78% plan to increase their google ads spend in 2019.
The same report shows that more than three quarters of marketers planned to increase their spend in Google Ads next year. This is exactly what we would expect, given that 79% of those surveyed responded that PPC was a major driver for their business. As PPC budgets build, however, increased bid competition will drive up average bid prices and CPC, so brands and agencies will need to focus more on designing compelling text ads to keep users clicking and manage keywords effectively to minimise erroneous bidding.
Google Shopping Ad spending grew 33% in Q3 2018 but text ad spending rose just 3%.
The 1/3 rise in shopping ad spend seen in Q3 (vs Q3 2017) of this year is likely down to last year’s verdict by the EU Commission that Google had illegally favoured their own Comparison Shopping Service in their search auctions. As a result, Google have offered significant rebates and reduced Costs Per Click to all vendors placing shopping Ads through a CSS. These benefits will, at the time of publication, end on December 31st this year, so we are likely to see a significant drop-off in shopping ad growth from next year.
The average mobile PPC ad click-through rate (CTR) drops 45% between positions one and two.
As we all know, mobile is an important channel for most retailers, making up an ever-increasing proportion of online sales, and a larger part of the customer journey. But if your ads are ranking second in mobile searches, you will see a much lower CTR than the Ad in first place. Essentially, for marketers this means you should be optimising your PPC campaigns to rank first for the products you know are already performing, even if this means a slightly higher CPC for that ad, in order to maximise conversions.
Average CTR for Google text ads across all industries is 3.17%.
Perhaps the most disheartening statistic on this list if taken at face value, almost 97% of those who see your Google Ad will never click it. This number is, however, almost double what was being reported in January and good news for digital marketers. If you are seeing a higher CTR than this, congratulations, you are probably writing compelling, clickable text ads and managing keywords well. If not, one way to improve your ads’ performance is to look for keywords you are bidding on with a lower CTR than 3%. Are these low impression keywords, or low conversion? If so, consider dropping them entirely, and using that part of your budget to ensure your best ads are performing at or above this average rate.
Have you seen any good statistics this week you think marketers should know? Tell us in the comments.