According to Pricing Engine, advertising on Bing is "more efficient" compared to Google AdWords. This is big news for law firm search marketers, for this new data directly focuses on small to medium sized businesses (or SMBs).
It is a fact that Google has huge volume of searches, but when it comes to the overall average cost per click (CPC) Bing is much lower based on the analysis of Pricing Engine. Pricing Engine examined the data coming from several small business accounts. They discovered that although Google has slightly higher CTR (click through rate) average, the CPC's are much lower for Bing advertisers.
Pricing Engine recognized that Bing is "more efficient" for SMBs. Although bigger companies may require the higher volume of searches on Google but SMBs does not need that kind of scale. Pricing Engine is helping small businesses in how they can effectively buy online ads. They compare data from their clients and present a report at the Street Fight Summit in New York. This data is very significant to their business since they will have the capacity to analyze the performance of PPC advertisers in relations to the companies. After examining this data they can provide some recommendations.
Jeremy Kagan, the CEO of Pricing Engine, revealed that this is the first time that they have shared the information regarding extensive trends. This data may not be statistically severe however his main objective it to start a discussion regarding the VSB or the very small businesses.
One of the major points of the report is that most small businesses put more focus on advertising on Google AdWords rather than using Bing. According to Pricing Engine, AdWords advertisers have an average rate of 2.4% on their clickthrough and 2.3% only for Bing. However, the cost of clicks on Bing is lower compared to Google AdWords. The cost per click of Bing is $1.10 compared to $2.40 for Google AdWords.
Pricing Engine also discovered the largest category based on the number of accounts is the stores. On the other hand, the greatest investors on Google AdWords are the digital services companies and ecommerce store PPC advertisers.
So, is your law firm doing any sort of PPC advertising on Bing? Let us know your thoughts in the comments section below!
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