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AdWords Industry Benchmark Report2017Executive SummaryIs it important for B2B marketers to keep up with the Joneses? This idiom refers to the comparison of our neighbors accumulation of material goods as a benchmark for social class. We believe it is important to keep up, but were referring to dierent set of benchmarks. When B2B marketers can compare benchmarks with their industry peers they get a better understanding of performance measurement and goal setting. After all, are you performing well at 125% ROI when the industry average is 300% ROI? How do marketers create goals without knowing whats achievable? B2B marketers gain valuable insights with a clear understanding of industry performance benchmarks for paid media channels like AdWords. The 2017 AdWords Industry Benchmark Report, by Bizible and DWA, helps B2B marketers gain a perspective on this in the following ways: Understand what to expect in terms of cost per lead, cost per opportunity, revenue, and ROI Understand how much room there is to optimize the above-mentioned metricsThis year weve made some interesting ndings and are excited to share them with you. We hope that youll nd this useful in thinking about your performance in AdWords in terms of important down-funnel metrics like opportunities, revenue, and ROI. Key Figures AdWords Contribution to Leads, Opps, and Revenue (Industry % leads, % opps, % revenue): Agency 36%, 41%, 36%; Business Services 43%, 47%, 41%; Education 58%, 68%, 75%; Financial Services 44%, 48%, 56%; Hardware / Manufacturing 50%, 50%, 56%; Software / Saas 32%, 38%, 39%; Telecommunications 44%, 38%, 43% AdWords Revenue per Lead: Agency $502; Business Services $377; Education $166; Financial Services $115; Hardware / Manufacturing $389; Software / Saas $305; Telecommunications $213AdWords Industry Benchmark Report 2017Table of ContentsPurposeMethodologyBenchmarksContribution to Leads, Opportunities, RevenueRevenue per LeadCost per LeadCost per Sales OpportunityROIYear-over-Year TrendsIndustry Breakdownpg. 4pg. 5pg. 6pg. 6pg. 7pg. 8pg. 9pg. 10pg. 11pg. 12AdWords Industry Benchmark Report 2017PurposeAdWords has long been a critical channel for B2B marketers. When developing a marketing teams channel mix, its a given that AdWords will be an integral part. Its a proven lead generator, but just how much does AdWords contribute to down-funnel metrics like revenue?Too often, B2B marketers dont have a full understanding of what happens after the lead is created, or what to expect in terms of ROI when investing in paid media. In this report, we will examine industry benchmarks, including what percentage of leads, opportunities, and revenue is driven by AdWords, and AdWords ROI. The industries we cover in this report include agencies, business services, education, nancial services, hardware / manufacturing, software / SaaS, and telecommunications.The data comes from approximately 200 companies.AdWords Industry Benchmark Report 2017MethodologyGathering monthly performance metrics from about 200 companies across seven industries, we obtained the following information based on marketing and sales data from October 2016 to May 2017: - Monthly lead count all marketing channels- Monthly lead count attributed to AdWords- Monthly sales opportunity count all marketing channels- Monthly sales opportunity count attributed to AdWords- Monthly revenue all marketing channels- Monthly revenue attributed to AdWords- Monthly AdWords spendAll of the benchmarks that you will nd in this report are calculated with these values. In this report youll nd the following benchmarks:- AdWords Contribution To Business (percent of leads, opportunities, and revenue attributed to AdWords) - Industry Average Revenue Per Lead, AdWords vs. All Channels- Industry Average Cost Per Lead Generated From AdWords- Industry Average Cost Per Opportunity Generated From AdWords- Industry Average AdWords ROI, Current and ProjectedWe will also cover year-over-year changes to the benchmarks.AdWords Industry Benchmark Report 2017“Contribution to Leads, Opps, and RevenueAgency Software / SaaSHardware / ManufacturingFinancial ServicesEducationBusiness ServicesTelecommu-nications10%50%40%30%20%60%80%70%LeadsOpportunitiesRevenueWhen the percentages (leads, opps, and revenue) are placed next to each other on a bar graph, we can see how AdWords impacts progressive stages of the market-ing pipeline for each industry by the shape of the each graph. If the bar graph moves upwards from left to right, it means that AdWords brings in leads that ultimately generate revenue at a proportionately high rate. This means that AdWords is bringing in high quality prospects relative to other channels.If the graph trends downward, it means that AdWords tends to generate leads that convert to customers and revenue at a lower rate than other channels.LOOKING FOR AN UPWARD SLOPEFor some of our clients, we have found that AdWords Search campaigns, especially exact match keywords, generate a higher volume of leads and opportunities than other channels such as social. This makes sense, considering that with paid search ads, we are targeting users who are actively looking for the products or services we are oering.”On high volume contributions from AdWords: Lucia Rodas-EstradaSEM Team Manager, DWAAdWords Industry Benchmark Report 2017Revenue per LeadIn general, there are four factors that impact this ratio: 1) lead volume, 2) cost per lead, 3) lead to customer conversion rate, and 4) customer value.Looking at the table, the rst scenario is greatyour marketing is eciently attracting leads and converting them to customers. The second scenario is okyour marketing may be leaking pros-pects through the funnel, but the prospects that you are converting are your most valuable customers. The nal scenario may be mislead-ing and is not great for long-term growthyou may have a high cost per lead, attracting many low quality leads, but you happened to catch a couple whales. For now, the numbers look good, but they may not be sustainable.WHAT CONTRIBUTES TO REVENUE PER LEAD?Agency Software / SaaSHardware / ManufacturingFinancial ServicesEducationBusiness ServicesTelecommu-nications$100$500$400$300$200$600Leads from AdWordsLeads from All ChannelsLead Volume Cost per Lead Conversion Rate Deal SizesScenario 1Scenario 2Scenario 3HighLow/AverageLowLow/AverageAverage/HighAverage/HighHighAverage/HighLowAverage/HighHighExtremely/HighScenarios that lead to high a Revenue per Lead ratio:AdWords Industry Benchmark Report 2017Cost Per LeadAgency Software / SaaSHardware / ManufacturingFinancial ServicesEducationBusiness ServicesTelecommu-nications$50$250$200$150$100$300Cost per lead is one of the most common paid media / demand marketing metrics.Typically, marketing organizations use a CPL ceiling to evaluate media opportunities. As a top-of-the-funnel metric, its useful for quick optimization and making sure campaign performance passes the smell test before waiting for a full sales cycle or two to prove out revenue performance.The target CPL is extremely dependent on industrylarge deal sizes, high conversion rates at the bottom of the funnel, and more could make a high CPL acceptable.DOES IT PASS THE SMELL TEST?“All of our clients have target CPLs for search campaigns. B2B marketers should be constantly optimizing keywords, ad copy, and even landing pages to decrease CPL month-over-month.”On lowering CPL: Lucia Rodas-EstradaSEM Team Manager, DWAAdWords Industry Benchmark Report 2017Cost Per OpportunityAgency Software / SaaSHardware / ManufacturingFinancial ServicesEducationBusiness ServicesTelecommu-nications$200$1,000$800$600$400$1,400$1,200$1,600For marketing teams that see the sales opportunity stage as the end of their funnel, the cost per opportunity benchmark helps demonstrate the marketing eciency of AdWords.Cost per opportunity also takes a step in aligning marketing and sales teams. A strong cost per opportunity metric means that the marketing team is eectively attracting the right prospects, as dened by the sales team (the opportunity stage).BEGINNING TO ALIGN MARKETING AND SALES“Every quarter, marketers should review opportunities and cost per opportunity, in order to prioritize the keywords that are driving the opportunities and decrease the cost per opportunity.”On reviewing opportunity data: Lucia Rodas-EstradaSEM Team Manager, DWAAdWords Industry Benchmark Report 2017AdWords ROIAgency Software / SaaSHardware / ManufacturingFinancial ServicesEducationBusiness ServicesTelecommu-nications100%500%400%300%200%ROI is arguably the most import-ant benchmark for measuring the eectiveness of AdWords. For every dollar that you put in, how much do you get in return?Across all industries measured, AdWords has a positive ROI, meaning companies are making more than they put in. And for the majority of industries, it looks like AdWords has an extremely positive ROI. Of course, the ROI of AdWords only has meaning when compared to the ROI of other channels. An ROI of 78% for the Business Services industry may not look impressive, but if other channels are delivering less ROI, it may indicate that AdWords is a worthy channel.On the other hand, an ROI north of 500% for the Hardware / Manufacturing industry may seem good by itself, but if other chan-nels are delivering even greater ROI, it may not warrant an increase in investment.WHATS THE RETURN?600%*This is a weighted ROI, calculated by taking the average of each companys ROI within each industryAdWords Industry Benchmark Report 2017
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