In the modern world, being able to conduct an effective online marketing campaign is essential for maximizing the profitability of your company or marketing agency. Much of the focus for online advertising is on Google and Facebook, where advertisers ostensibly get the biggest bang for buck regarding advertisement campaigns. However, diversifying your marketing strategy with the nicely optimized Bing Ads campaign can help reel in the revenue for your agency, clients, or own personal business. Understanding the ins and outs of Bing Ads is not only prudent, but can be a difference maker for your clientele and associates as Bing reaches different audiences and industries more efficiently than its counterpart Google.
Much like Facebook Ads and Google Ads, their Microsoft funded counterpart Bing Ads offers the tools for individuals to tap into a powerful network teeming with prospective customers. While Bing has significantly less users than Google and Facebook, writing off the search engine could be a tactical error considering that even the Bing Ads website itself acknowledges its position with patron’s testimonials. Here’s an excerpt from one: “We might not get as much of the volume as with Google Ads, but the volume of traffic that we get converts really well at a lower cost.”
One final thing to remember is that the different networks have a certain degree of exclusivity, with Bing having up to 27% of their clicks from searches that are exclusive to their network. If you still aren’t sold on forking up the dough to cast a wider net, we are going to break down how the numbers stack up for the not-so-puny Bing engine. Four key metrics will be compared to google: click through rate (CTR), cost per click (CPC), conversion rate (CVR), and cost per action (CPA).
Click Through Rate
Bing’s average CTR is 50% higher than what is seen on Google Ads, which may be due to the fact that Bing has an edge with their expanded text ads. Last year both Google and Bing rolled out expanded text ads, which shook up the playing field for online marketing. Presently, it appears Bing has an advantage with its CTR with the new expanded text ad features. The Bing search engine peaked in the Employment or Career service sector at 3.53% average CTR. Several other industries had significant average CTR with Apparel and Accessories clocking in at 3.33% and Finance and Insurance reporting in with a CTR of 3.51%.
Cost Per Click
A very important distinction between the two engines is that Bing still features ads on the right-hand margin of the SERP, a UI display which Google has since forgone with the AdWords rebranding. This difference also contributes to having that expanded space available for lower bidding companies that are queued up and ready at the consumers behest. While Bing can confer many advantages on CPC and CTR, some industries are more cost effective on one or the other. Its important to continually research which is doing well (and why) to intelligently invest your time and resources.
Average Conversion Rate
Across all industries Bing has an average conversion rate of 2.94%. When considering any numbers regarding your marketing campaign its good to imagine your target audience and the actual audience you are attracting. The beauty of enhancing your online dragnet with the incorporation of Bing Ads is that you gain a new target audience and set yourself up for the crossover you might expect if a desktop user then conducts a mobile search. Between devices users have different presets which they may not bother to change. For instance, a PC user might hop on to their Google Pixel during their lunch break to track down the right product for their needs. With a diversified marketing strategy reaching into several networks, your ads will be there at every step of the way, queued up and piping hot for the moment a prospective consumer converts to purchaser and then full-blown fanatic.
Presently, Bing’s audience primarily searches from desktop device, while Google users frequently search from mobile devices. This difference in audience is critical to understand as the distinction correlates with different industries and their prospective sales cycles. Consequently, recent data showed that Bing’s highest average conversion rates at 6.81%, 5.57%, and 5.13% for Careers and Employment, Finance and Insurances, and Real Estate have significance for those tasked with analyzing trends and making investments in the search engine advertisement market.
Average Cost Per Action
The average CPA for Bing across all industries is approximately $41.44, making the engine’s CPA 30% lower than Google Ads customer’s average. This may seem obvious due to the engine’s lucrative CPC values which are cheap relative to Google’s current standard. Of course, there is a reason for this vastly lower difference in values, and that is because Google still handily commands the market and (possibly) delivers the most bang for any one individual online marketing need. Having a diverse footing in the search engine industry allows a marketing agency to finesse its resources and truly optimize outcomes for its patrons and their businesses. Part and parcel of the beautiful game of marketing is hitting the right audience. Importantly, Bing has an older and more affluent audience than Google, using this information wisely can help you target the right people at the right time for excellent ROI bolstered by efficient and flexible marketing campaigns.