When marketers are looking to use digital advertising there are several different options. Google’s AdWords program is by far the largest, and most popular, but according to small business marketing platform Pricing Engine, it might not be the best option for small businesses. They have found that Bing ads from Microsoft are actually more efficient than Google’s AdWords program. Specifically, Bing offers a lower cost for leads for small businesses, according to their analysis.
They analyzed data from hundreds of small business accounts and found that the click through rates are slightly higher with Google, but the cost per click is far greater. The average cost per click for bing is just over $1 whereas the CPC for Google is nearly $2.50, on average. The click through rate is just under 2.5% for Google, and about 2.25 for Bing, which is not a big difference, or even anything most small businesses would notice.
Larger businesses may demand the higher click through rate simply to get more users onto their site, but for small businesses with more limited budgets, this is not likely to be an issue. In fact, most small businesses will be limited far more by their budgets than they would be by the CPC anyway, so they aren’t likely to gain any real benefit from the higher click through rate offered by Google.
Of course, using Google’s AdWords program will get small businesses in front of a much larger audience, which may be something that needs to be factored in. Running ads on both platforms, if affordable, will get the most exposure, but it will also be significantly more expensive. When it comes to a strict cost per lead formula, which is what many small businesses and marketers will be interested in, Bing seems to be the clear winner.
You can see more information from Pricing Engine HERE.