What is a good conversion rate to have on paid ads?

Hey Everybody!

I just ran my first ad (or ads in an ad group) today for “Top Level Affiliate” (Done For You) on Bing Ads. Woohoo! I got 5,489 impressions, 30 clicks, spent $30, and zero conversions–but who knows, maybe one of those people will buy later today. All clicks happened before 2pm EST.

What is a good conversion rate to have while running ads on Bing, Google (search/display), and Youtube? How many clicks on average does it take to get a conversion in a well-run campaign? Every 100 clicks? 50? 20? 10?

What conversion rate do you guys get on average when when running paid ads?

p.s. I have 46 keywords. Is that too many? How many keywords do you guys use on average?

I normally start with as much keyword possible (related to the product) and track witch one works and witch dont.

About the conversion rate i dont know…

Thanks, @timvdh. I made a couple changes just now. I reduced my bid on my most popular keyword - “make money online” - from $1.50 to $0.51; I decreased all my bids by 90% for ages 18-24; and I added 3 columns to my keywords tab–“Est. first page bid” (on first page), “Est. mainline bid” (above the fold), & “Est. best postition bid” (position #1).

“make money online” is a very popular keyword, and I have a feeling most of my clicks have been from the younger crowd for that keyword. The “Est. first page bid” for “make money online” is $0.42, so I thought I’d reduce my bid close to that number so I can let my other keywords get some more love. I also added those columns so I can see what real people may be bidding.

Lastly, I don’t have conversion tracking set up yet, so I just temporarily reduced my daily budget to $5/day until I get conversion tracking successfully set up. I don’t want to pause the campaign because I’d rather not have to wait a couple days for the campaign to start again (it took a couple days for my first campaign to get going). Just thought I’d keep you all in the loop. If you have any other tips as I’m starting off, feel free to let me know!

@assetWizard, thanks for the feedback and sharing your opinions and experiences! This will help me tremendously.

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You’ve just started so don’t expect much but yeah 3% is a good conversion rate. The average is around 2.5%.

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ads are all about optimization. It takes time and you gotta spend some money, but when it picks up, it’ll pay for itself.

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Ryan, what traffic sources are you focusing on?

I’m mainly doing YT, with some bing PPC on the side

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About 1/4 of all accounts have less than 1% conversion rates. The median was 2.35%, but the top 25% of accounts have twice that – 5.31% - or greater. Check out the far right red bar – the top 10% of Google Ads advertisers have account conversion rates of 11.45%.
These are some stats from google.
Hope this helps you!

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Starting with more keywords is a good thing. PPC is not a static process. It is dynamic. You need to weed out the keywords inbetween the process, which are not performing well.
Then keep on going with your campaign.
Generally, you’ll have 3% conversion rate at the beginning, then it’ll increase.