Google Ads is rolling out an update to the Spend benchmarks report that now shows you how your spend is comparable to businesses like yours. In short, it shows you if you are spending more, less or the same as your competitors on Google Ads.
This update was spotted by Thomas Eccel who wrote on LinkedIn, "The new Spend Benchmarks report compares your account with businesses Google considers similar to yours."
He posted this screenshot:
Showing under Account "Overview," he explained that this week your spend was €284 but your competitor's spend was €268. That led you to getting 912 clicks and your competitor getting 765 clicks.
"Google says the comparison is based on things like industry and where you advertise. But two businesses in the same industry can have completely different margins, conversion rates, AOVs and strategies," he wrote. "Your profitability should decide that, not Google’s recommendation," he added.
Forum discussion at LinkedIn.
