Sites like ispionage.com are extrapolating from very small data samples and tend to be very inaccurate.
As far as conversion percentages for your niche, it sounds like you are looking for an industry average conversion rate. For that information we would need to know the specifics of your particular niche, the data might be available however it isn’t likely to be meaningful to your business. Please allow me to explain.
There are a lot of variables that will affect the conversion rates, a campaign will typically target many market segments and each segment will have its own individual conversion rate, every keyword you target will have its own individual conversion rate, each channel segment will have its own individual conversion rate. Each value proposition, each ad variant will have its own individual conversion rates. Conversion variables like lead generation verses online sales, will each have their own individual conversion rates.
Ad position will affect conversion rates, landing page designs, headlines, value propositions, and CTAs all have a significant effect on conversion rates. I could go on, but you probably get my point.
While it is interesting to compare your own conversion to the industry benchmarks, as previously stated, it generally is not meant for your own business. The reason is that every company has a different business model, a different strategy, and different goals.
- If your strategy and goals are to grow market share, you will likely have a lower average conversion rate than someone that is maximizing current profits.
- A strategy of maximizing current profits will generally have much lower conversion rates than a strategy of maximizing ROI.
Industry benchmarks include all of these different strategies and tactics as an average of aggregated totals. It won’t be relevant to a company that has very specific goals and strategies that are not reflected in the industry benchmarks. Industry benchmarks are more useful when comparing differences between industries, not as a standard for players within an industry.
Comparing your metrics to your direct competitors, the ones that have a nearly identical marketing strategy, is much more meaningful, but not nearly as much as comparing your actual metrics to the goals of your carefully crafted marketing plan.
A lot of advertisers tend to focus on averages and benchmarks, market leaders rarely compare their performance to averages that aren’t based on the same strategy, they instead focus on planned versus actual. You might consider industry benchmarks when crafting your marketing plans, just don’t look at them as a standard, because averages lie. Your own standards should be relevant to your chosen strategy and not based on an average of mixed strategies and tactics.
