Facebook Ad Benchmarks for YOUR Industry
By Mark Irvine
Facebook is one of the fastest growing ad networks – in fact, the number of advertisers using Facebook has more than doubled in the last 18 months.
If you’re one of the 2 million advertisers who started advertising on Facebook in the past 2 years, you may have found that it can be easy to get overwhelmed on the new platform. Facebook has nearly countless ad targeting options to explore, and performance differs for every client. Just like on AdWords, performance can differ across different industries on Facebook, so what numbers should you be looking to beat in your industry?
We dug into our data to find out! Check out the Facebook ad performance benchmarks our clients are seeing, including:
- Average Click-Through Rate (CTR) on Facebook by industry
- Average Cost per Click (CPC) on Facebook by industry
- Average Conversion Rate (CVR) on Facebook by industry
- Average Cost per Action (CPA) on Facebook by industry
You’ll find averages across these Facebook metrics for eighteen industries: Apparel, Auto, B2B, Beauty, Consumer Services, Education, Employment & Job Training, Finance & Insurance, Fitness, Home Improvement, Healthcare, Industrial Services, Legal, Real Estate, Retail, Technology, and Travel & Hospitality. Let’s dig in!
Average Click-Through Rate on Facebook
Legal advertisers may struggle with low click-through rates on the SERP, but they’re lucky to have the highest CTRs on Facebook (1.61%). No doubt, it can be hard to impress the prospective client looking for a lawyer when your ad is one among seven ads on the SERP, but a lawyer’s high-value offer and call to action certainly stands out more when it’s standing alone on a prospect’s social feed.
Other advertisers with high CTRs are in the retail (1.59%), apparel (1.24%), beauty (1.16%), and fitness (1.01%) industries. It’s no surprise that these industries often feature models and high-quality images in their ads, and those ads perform particularly well on highly visual platforms like Facebook and Instagram.
You have to be pretty crafty to distract potential job hunters from their social feeds, and employment & job training services can have relatively low CTRs on Facebook (0.47%). Facebook and Instagram may not be the network for job seekers, but LinkedIn may have promise for these advertisers!
The average click-through rate (CTR) for Facebook ads across all industries is 0.90%.
Average Cost Per Click (CPC) on Facebook
Even though financial advertisers have the highest CPCs on Facebook at $3.77 per click, advertisers may still be quite satisfied with that CPC on Facebook. The terms “Insurance,” “Loans,” and “Mortgage” are the three most expensive keywords on Google, each costing about $50 per click.
The cheapest clicks on Facebook are reserved for the apparel ($0.45 per click), travel and hospitality ($0.63) and other retailers ($0.70) industries, with clicks well below a dollar. These industries often have the largest audiences so even at these low CPCs, it’s important to understand how to manage your budgets so that your Facebook costs don’t run amok.
The average cost per click (CPC) for Facebook ads across all industries is $1.72.
Average Conversion Rates …read more
Read more here:: B2CMarketingInsider