As digital advertising costs soar, especially within the home industry, businesses are feeling the pinch. With a staggering 25% increase in cost per lead, it may be time to rethink your marketing strategy. Could direct mail be the unexpected hero in this scenario?
The cost per lead (CPL) from search ads rose 25% on average — $66.69 in 19 of 23 industries, according to LocaliQ, which reported the average CPL in 2023 at $53.52.
The industries with the highest average CPCs were Attorneys and Legal Services at $8.94, Home and Home Improvement at $6.96, and Dentists and Dental Services at $6.82.
According to the report, the average cost per lead in the home & home improvement industry is $66.02.
Many of our clients in the Home and Home Improvement industries have told me that they’ve noticed their PPC has become more expensive. Have you also noticed that while you may have had an increase in your CTR (Click thru rate), your actual conversions have not gone up? This is because of an increase in clicks from people who may not be ready to convert. And bots.
Don’t let rising PPC costs drain your budget
As business owners & marketers, we are always looking for ways to increase our lead generation. Don’t let rising PPC costs drain your budget. Explore the targeted, tangible benefits of direct mail. (I should hold up a sign that says Revive Direct Mail!)
Target-target-target with a solid consumer database. Pinpoint targeting lets you market to a smaller, more responsive group. Customize your mailer with the right wording and a solid offer that appeals to that specific market. Be consistent. Be visible in multiple channels. You will get a response.
P.S. I could write so much about the value of direct mail. Right now, we are not seeing a huge amount of marketing mail in our mailbox. People still go to their mailbox every day to get, look at, sort and make decisions about the mail they get. I say Revive Direct Mail. Get your message right into the hands of the people who can actually use / buy / afford what you’re selling.
NOTE: The study analyzed more than 17,000 campaigns running from April 2023 through March 2024 to create the latest version of its search advertising benchmarks report to give marketers insight into how businesses perform on Google Ads and Microsoft Ads.
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