Do you know how much money Google makes? Well, a lot and a lot of it.
The most amazing thing about this is that this huge money comes in the form of endless number of micro-payments.
Thousands and thousands of companies across the globe pay pennies every time a potential customer clicks on one of the ads on Google.
The average expenditure on Cost Per Click (CPC) is just over $ 2 across all industries. Every day there are so many searches and so many clicks that at the end of the day it accumulates to billions.
Some industries are however not that lucky to enjoy the affordable average CPC.
Some businesses are highly competitive and companies in there end up paying $ 50 or more for every click. The cost per click increases significantly in case of long tail keywords.
Some keywords cost more than $ 100 for a click, and this expenditure is not a guarantee of sale.
Organizations in such businesses are able to spend this much amount because the lifetime value of their customer is much higher. Just take a look at products or services that have long customer lifetimes or have a super high price tag.
So, without keeping any more delay, we raise the curtain on 25 Keywords that are most expensive on Google AdWords. This list is according to 2017 data:
So what makes these keywords so costly? There are two main reasons.
Customer Lifetime Value or High New Customer
In case you are just getting started or new to Google AdWords than this data might scare you away. The fact is that, the system is not broken in these niches for advertisers.
Companies are able to pay high cost per click just because the relative cost per acquisition is quite reasonable for them. The fact value of acquisition for these businesses, is much more than the advertising cost.
It is the ultimate Return on Investment (ROI) that affects the advertising and marketing cost. The ROI can be quite good from AdWords even in case CPC is high provided enough Customers Are Converting from those clicks.
Products or services that carry a high price tag are able to afford high price for advertising. Some of these high price tag product or services include “insurance” and “business services”.
For example, take the “lawyer” category, in this comes the “lemon law lawyer” and “malpractice lawyer” both of them carry CPC of over $50 on average.
Market of law firms is highly competitive and in case you are doing online marketing for them, you must be aware of the high CPC rate. But, it is worth spending that much money as new clients and leads will keep the business going.
The CPA is kept low by smart advertisers as much as possible and get the optimization right for maximum conversion.
Some of the strategies that are implemented here are:
- Call tracking: To keep track of the most important leads
- Geo targeting: The ads are focused on the operating areas
- Landing pages and emotional ads: It display client testimonials and video
- Displays and other media campaigns: It increases brand recognition
The conclusion here is – you should not get afraid by the high cost of ads on Google AdWords. You should consider the whole business and compare it with ads cost.
Urgent Problem that Require Quick Fix
There is another category of keywords whose CPC is quite high. These keywords are of products or services that are in desperate need by people, for example emergency dental work.
Keywords that fit in this category include: termites – $38, rehab – $46 and bail bonds – $58 average per click. Keywords for medical needs also fit this category, such as “emergency room near me”, it also includes a lot of local searches.
Talking about rehab, it is worth pointing out here that a number of keywords that are associated with addictive behavior, such as “online gambling” and “casino”.
These two keywords have taken up the number 1 and 2 spot in the United Kingdom, along with some psychic keywords such as “psychic chat” and “psychic hotline”.
There are a set of keywords that overlap the above mentioned two categories. For example, at times people are searching for “need a lawyer fast”.
Some keywords are surprise entry in this list such as “hair transplant”.
A little analysis will reveal that this procedure cost somewhere around $15,000 and above all there is no insurance coverage for it. Ooppss!!