Google Ad Costs Skyrocketing While Conversion Rates Fall: Google is the undisputed king of internet advertising, with most businesses worldwide spending some of their ad budgets on PPC ads. However, the economic slowdown is coupled with an increase in Google ad costs and a decrease in conversion rates. Founder of Fullmoon digital, Derek Chew a former early Yahoo! employee, busts common digital marketing myths to help companies get more sales for each dollar spent.
Derek Chew, Founder and CEO of Fullmoon Digital, says businesses need to be smarter and more strategic with their PPC advertising dollars. He and his team are helping companies break through common digital marketing myths to skyrocket their ROI.
Organizations around the globe rely on Google advertising to drive sales and leads, with more than 80% of businesses worldwide using Google PPC campaigns.(1) As economic conditions cool down and businesses are more budget-conscious, the increase in advertising spending is cooling down. Instead of the 8.3% increase in Google advertising spending in 2022, experts forecast a meager 2.6% increase in 2023.(2) Meanwhile, as the online ad space is more saturated, the cost per lead has gone up an average of 19%, while conversion rates fell an average of 14% across industries.(3) Google advertising remains effective but is more expensive and challenging than in previous years — exactly at the time companies need to maximize ROI.
Derek Chew, Founder and CEO of Fullmoon Digital,...
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