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Real estate is the fifth costliest industry to market online, new research has found, as the property industry continues to increasingly place greater emphasis on digital marketing to attract and convert leads.
SEO Shark has researched and compiled the average cost of an ad to appear at the top of Google — “top-of-page” bids — for popular keyword searches, from real estate and home loans to travel and medical centres.
The findings revealed that IT services are the costliest business to market. While searches for IT services are relatively low, 7,780 searches per month, the average cost of a top-of-page bid across its most popular keyword search terms is $107.60.
Real estate is the fifth most expensive in the list of 21 at $63.80 per top-of-page bid across its most popular keyword search terms. Real estate attracts a fairly high volume of daily searches, at an average of 26,140.
The highest volume search is food and dining at 1,241,870, followed by insurance at 389,920 searches. Food and dining only costs $17.50 per top-of-page bid.
Legal services came in third with an average top-of-page bid cost of $84.90, and an average of 45,080 monthly searches.
Retail is the cheapest at $1.90 even though it attracts 54,180 searches per month.
SEO Shark managing director Lucas Bikowski said that, unsurprisingly, the results follow solid economic principles.
“The cost of an ad is an indicator of how challenging it will be to market that product or service,” he said.
“High search volumes don’t guarantee a lower top-of-page bid. At the end of the day, it’s all to do with return on investment on any particular keyword.”
He used the example of an IT company bidding on the keyphrase “managed IT services”.
“[Buyers] know that an IT service contract will last for about a year or so. If you compare this to someone searching for ‘travel insurance’, which people often purchase at a one-off basis, you can begin to understand why there is a fluctuation in the numbers and why some industries are harder to market,” Mr Bikowski said.
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