The cost of Google Ads could be $1,000 to $10,000 per month in 2023, with a likely cost per click of $1 to $2 by 2024. Google Search Network and just $1 for the Google Display Network. Google Ads pricing can vary based on criteria such as industry, ad targeting, and network.
Are you eager to learn more about how much you would have to pay for Google Ads and how to make the most of your advertising budget? Continue reading this Google AdWords Campaign Management pricing guide!
If you're looking for help optimizing and making the most of your Google Ads budget, contact Indeed SEO and explore how our highly-skilled professionals can help you.
How do Google Ads costs vary by industry?
Now that you understand the likely cost of Google Ads, we can look at how pricing might differ depending on a business’s field. Typically, the budget ranges from $1,000 to $10,000 per month, but the money spent on Google Ads depends on multiple external factors such as the type of products or services offered and other competitive conditions. To get an idea of the typical CPC for different industries that use Google Ads, look at this data.
Typically, businesses in fields with a higher cost per click (CPC) dedicate larger budgets to their Google Ads campaigns. For example, the cost per click for consumer services can reach almost $7, implying that specific businesses need to invest more to achieve their goals.
Read also Mastering Google Ads Campaign Management: The Ultimate Guide
What elements affect Google Ads prices?
What elements affect Google Ads prices?
Google Ads pricing is determined by multiple elements, including:
✓ Industry
Google Ads pricing is greatly affected by the field you are in. Industries like law, accounting, and real estate are especially competitive when it comes to their keywords on Google Ads, so they require a more expensive cost per click (CPC).
✓ Market trends
Consumer and online advertising are in a state of flux, so it's vital to keep up with the latest developments. Your target market's desires and the purchasing trends they follow may change progressively, meaning you may need to update your keyword bidding technique. The average cost per click is likely to gradually increase or decrease over time as consumer trends change, putting some keywords in a more competitive situation than others.
✓ Quality level
Your Quality Score influences your Google Ads cost. This score is typically measured from 1 to 10 and takes into account ad relevance and quality, landing page experience, and click-through rate. To receive the highest placement on the search engine results page (SERP), it is recommended to aim for a Quality Score as close to 10 as possible. Depending on your Quality Score, you may also need to increase your bid to achieve a higher ranking.
✓ KEYWORDS
We mentioned earlier that various keywords have a different level of competitiveness. Therefore, selecting the right keyword can be especially important when deciding how much you will spend on Google ads. The particular amount you pay per click could be higher or lower than that of regular businesses, depending on your industry and the keyword.
✓ Bid
It is essential to consider the bid amount you are willing to pay for a click when setting the price of your Google Ads. This price should be something that is not a burden for you, but still gives you the opportunity to compete with other advertisers.
✓ Budget
The amount of money you have allocated to your budget will influence the cost of Google Ads. It can determine the daily and monthly spend for each advertising campaign, similar to how much you are willing to bid. This amount can be adjusted to ensure it is within your desired allocated finances for advertising.