Yesterday Luke, Bill and I had lunch with Jeremy, Justin and Carl from Cleveland Brothers. We were talking about pay-per-click advertising and Luke said that the keywords with the highest cost per click (CPC) would make a good blog post. So here it is!
I looked into this a little while ago and remember that clicks for personal injury lawyers are pretty expensive, at about $20.00 apiece. I thought that was about the highest CPC out there.
Boy, was I wrong! It turns out that every one of the top 25 most expensive keywords belongs to one of 10 industries. I averaged their click costs to give you:
The 10 Most Expensive Industries to Advertise Online:
|Business/Industry||Keywords in Top 25||Average Cost Per Click|
|6||Conference Call Companies||1||$49.64|
|7||Car Insurance Quotes||3||$49.61|
|8||Student Loan Consolidation||3||$49.44|
Source Fifty bucks!
Are you serious? How can anybody justify that expense?
Four words: high lifetime customer value. Buying a structured settlement nets a lot of money over a long time period for the advertiser. The same goes for refinancing student loans and remortgaging a house.
DUI and Mesothelioma lawyers make a killing in settlement money, so paying $50 per click is really pocket change.
Data recovery and conference calling software fosters long term client-vendor relationships. One new client can mean millions of dollars in recurring revenue over the years of the contract.
You don’t see any one-time purchases on this list, and for good reason. It’s simply not worth it to pay a fortune in the hopes of selling one product once.
These big spenders are aiming high: millions of dollars in a lawsuit or hundreds of thousands of dollars in a high-interest loan. With this in mind, how much is a click really worth to your business?