Home Healthcare Industry Advertising Benchmarks

Goals

To determine the average industry benchmarks for various advertising metrics for the US home health care industry to inform the client’s business proposal.

Early Findings

Most Important Metrics to Track

  • WordStream identified the most important metrics to track for the “greatest insights” into the best ways to use ad spend and what gets the most-effective results. These are: CTR (click-through rate), CPC (cost-per-click), CVR (conversion rate), and CPA (cost-per-action).

Benchmark: (CPL) Cost-Per-Lead

  • Just like different industries have different averages for per-lead costs, different channels have different costs-per-lead, as well. Leads generated through display and CRM advertising cost the most, followed by SEA (search engine advertising), referrals, webinars, social media advertising, email marketing, retargeting advertising, social media, and SEO/content marketing, respectively.
  • As of December 2019, the average cost-per-lead for various types of marketing (across all industries) are as follows: Traditional/offline marketing ($619), social media advertising ($58), LinkedIn advertising ($75), SEO channel ($31), events/tradeshows ($811), SEM channel ($110), email marketing ($53), referrals ($73), programmatic marketing ($38), display advertising ($63), content marketing ($92), webinars ($72), PR and earned media ($294), video marketing ($174), paid social media campaigns ($47), and retargeting campaigns ($31).
  • In late 2019, LinchPinSEO released expected 2020 averages for various industries, including the healthcare industry. For the healthcare and medical industries, the cost-per-lead ranged from a low of $36 to a high-end of $286, with $160 being the industry average.
  • In 2017, the average cost-per-lead for all health-related industries in the US was $37.

Benchmark: (CTR) Click-Through-Rate

  • In 2018, healthcare industries outperformed “the average across all industries: 3.17% for search and 0.46% for display network for all sixteen fields.”

Benchmark: (CPC) Cost-Per-Click

  • In 2018, healthcare industries performed above average in CPC rates “with $2.62 for search and $0.63 for the display network coming in under the average of $2.69 for search and matching the display network average.”

Benchmark: (CVR) Conversion Rate

  • In 2018, healthcare industries earned a “search CVR of 3.36%,” which is below the average of all industries (3.75%). Experts note there is room for improvement on conversion rates in these fields.
  • In 2018, healthcare industries earned an average display network CVR of 0.82%, higher than the average of all industries (0.77%).

Proposed next steps:

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