Facebook Ads

Benchmarks 2024
NEW Data, Trends, & Insights
 Introduction 03

What’s Executive summary 04

05
inside:
Key takeaways: The big picture

Facebook ads benchmarks: Traffic campaigns 08

Average click-through rate 09
Average cost per click 10

Facebook ads benchmarks: Lead gen campaigns 11

Average click-through rate 13
Average cost per click 14
Average conversion rate 16
Average cost per lead 18

How to improve your Facebook ads results 19

Let’s talk 24
Facebook Ads Benchmarks 2024 2
Introduction
Facebook advertising has been a staple strategy for small
businesses for years now—which is no surprise considering it’s
been proven that Facebook delivers the highest ROI out of all
social ad platforms.

Plus, with more than 3 billion monthly active users, there are
endless opportunities to reach any audience you want to target
on Facebook. Not only that, but Facebook ads also tend to be less
costly than search ads. So, when you’re looking to build brand
awareness, connect with prospects, and get new customers fast,
Facebook ads are a no-brainer.

However, knowing exactly how your Facebook campaigns are

performing can be a challenge. Today, we’ve got the data to help
you solve for this.

As you map out your Facebook ad campaigns for the remainder

of 2024 and consider your strategy for 2025, we’re sharing
Facebook ads benchmarks across 20 industries, including data for
core metrics such as click-through rate, cost per click, conversion
rate, and more for two popular Facebook ads campaign
objectives: traffic and lead generation.

Facebook Ads Benchmarks 2024 3

Executive summary
This report contains our latest Facebook ads benchmark data
to help you better understand and maximize your campaign
performance and budget. A few notes on the report:

These benchmarks are based on data from 2,946

campaigns running between February 1, 2023, and April
30, 2024.

Averages are technically median figures to account for

outliers. All currency values are posted in USD.

Metrics include average click-through rate, average cost

per click, average conversion rate, and average cost per
lead.

Facebook Ads Benchmarks 2024 4

Key trends:
The big picture
In recent years, most industries have seen a decline in performance and
an increase in costs on the Google Ads side. Costs and performance in
Facebook ads, however, have been relatively stable, and in many cases
improved. Although running search ads is still critical for business growth
online, our updated data shows that Facebook advertising continues to be
the perfect complement.

Let’s take a closer look at the main takeaways from this Facebook ads
benchmark data.

Facebook Ads Benchmarks 2024 5

 CLICK-THROUGH RATE
For Facebook Lead Ads, click-through rate (CTR) decreased for
12 out of 15 industries. This is the opposite of what we saw for
Google Ads, which saw increases in CTR for most industries.
Despite this, overall average CTR across all industries did
improve slightly. Plus, while you should prioritize a high CTR
“People’s spending habits are ramping for your Facebook ads, this isn’t the most important metric for
lead ads. In contrast, CTR increased year over year for 15 out
up on social platforms like Facebook of 23 industries in the traffic objective, (a reversal from last
due to the advancements both Meta year when 15 industries saw CTR decrease).

and TikTok have made in recent years.

Many consumers are searching for
COST PER CLICK
businesses on social media first in lieu
Average cost per click (CPC) for the lead gen objective
of traditional search platforms. We are increased for 12 out of 15 industries (80%). This follows a
seeing social platforms increasingly similar trend we saw in our Google Ads benchmarks, where
86% of industries saw an increase in CPC. CPC is still relatively
fill all stages in the marketing funnel, low for lead ads at $1.88, compared to $4.66 in Google Ads.
whereas search now tends to be a Meanwhile, cost per click largely decreased year over year for
the traffic objective. 18 industries saw a decrease (and two
more bottom-of-funnel strategy.” saw no change) YoY.

Tyler Mask, Senior Manager of Social Advertising & Custom Solutions, LocaliQ

Facebook Ads Benchmarks 2024 6

CONVERSION RATE
Conversion rate (CVR) improved for 10 out of 15 industries
using the lead gen objective, with some of those increases
being fairly significant. The big winners were Industrial &
Commercial, Dentists & Dental Services, and Real Estate.
Overall, average conversion rate increased YoY for lead ads.
The overall
key takeaway?
COST PER LEAD Facebook advertising continues
For the lead gen objective, cost per lead (CPL) decreased for
six out of 15 industries, which means 60% of industries saw
to be the perfect complement to
an increase in CPL, with an average CPL across industries of search ads because of lower and
$21.98. This is substantially lower than the average CPL of
Google Ads at $66.69. It’s also interesting to note that CPL
more stable costs year over year.
decreased YoY for lead ads. Because lead ads are optimized to
drive leads, this could account for the lower CPL.

Facebook Ads Benchmarks 2024 7

Facebook ads
benchmarks for
traffic campaigns
by industry
The traffic objective in Facebook ads is one of a few campaign objectives
advertisers can choose from. Using the traffic objective allows Facebook’s
algorithm to optimize how your campaign is served to drive the most
possible clicks on your ads.

Traffic campaigns are a common go-to for many small business advertisers
because they help drive more visitors (and potential customers!) to your
website or landing page, app, or event.

Note: Since this campaign objective is specifically designed to drive traffic,

cost per lead and conversion rate metrics tend to be on the higher side. It’s
important to focus on the metrics that matter most for your ad objective, so
we’ve omitted those metrics here.

Facebook Ads Benchmarks 2024 8

TRAFFIC OBJECTIVE
Average click-through rate
Since Facebook ads traffic campaigns are focused on clicks, average
click-through rate naturally becomes the focus PPC metric for most
advertisers using this strategy.

The average click-through rate in Facebook ads for traffic campaigns

across all industries is 1.57%. This is up from last year’s overall average
of 1.51%.

The industries with the highest average click-through rates for

Facebook traffic campaigns were Real Estate (2.60%), Arts and
Entertainment (2.59%), and Travel (2.20%).

In contrast, the industries with the lowest average click-through rates

were Finance and Insurance, Dentists and Dental Services (0.88%),
and Attorneys and Legal Services as well as Industrial and Commercial
(0.99%).

To reiterate, click-through rate increased or remained the same for

15 out of 23 industries—which is more in line with what we saw in our
Google Ads benchmarks. Because these campaigns are optimized for
the traffic objective, it makes sense that they would have a higher CTR
than lead gen campaigns (more on this later).

Facebook Ads Benchmarks 2024 9

TRAFFIC OBJECTIVE
Average cost per click
Similar to click-through rate, cost per click is also a primary metric
advertisers focus on when running Facebook ads traffic campaigns. Since
you’re driving as many clicks as possible with this campaign objective, you
want to ensure those clicks are as cheap as they can be.

In short, keeping a lower average CPC on traffic campaigns means you can
convert website visitors at an overall cheaper cost.

The average cost per click in Facebook ads for traffic campaigns across all
industries is $0.77. This is down from last year’s average of $0.83.

Industries that had the highest average costs per click for Facebook traffic
campaigns were Attorneys and Legal Services ($1.09), Apparel, Fashion
and Jewelry as well as Dentists and Dental Services ($1.07), and Furniture
($1.06).

The industries with the lowest average costs per click for Facebook traffic
campaigns included Travel ($0.42), Arts and Entertainment ($0.43), and
Restaurants and Food ($0.72).

Cost per click decreased or remained the same for 20 out of 23 industries.
That said, even if you find your industry’s CPC has increased, it’s important
to keep in mind that these CPCs are still generally lower than the average
CPC for Google Ads at $4.66.

Facebook Ads Benchmarks 2024 10

Facebook ads
benchmarks
for lead gen
campaigns
by industry
Facebook ad campaigns using the lead gen objective
are designed to maximize lead collection for
advertisers by allowing users to contact your business
via form fills, messages, calls, and conversions.

Lead gen campaigns require you to use Facebook

Lead Ads, which are a Facebook ad type that include
prompts directly within the ad to collect lead
information.

Facebook Ads Benchmarks 2024 11

We’ve included conversion rate
and cost per lead as part of
these benchmarks since this
objective is optimized to drive
leads and conversions.

Facebook Ads Benchmarks 2024 12

LEAD GEN OBJECTIVE
Average click-through rate
While Facebook Lead Ads don’t necessarily require users to click to your
website (although that can still be a secondary option on the ad), you
still need to get your prospects to click on the ad to become a lead. So,
prioritizing a high click-through rate for your Facebook leads objective
campaigns is the first step in getting prospective customers to take
action.

The average click-through rate in Facebook ads for lead generation

campaigns across all industries is 2.53%. This is slightly higher than last
year’s overall average of 2.50%.

Industries with the highest average click-through rates were Sports

and Recreation at 3.74%, Real Estate at 3.71%, and Personal Services at
2.56%.

Industries with the lowest average click-through rates were Automotive

Repair, Service and Parts (1.08%), Health and Fitness (1.46%), and
Industrial and Commercial (1.48%).

When looking at these Facebook ads lead objective click-through rates,

it can be helpful to consider your own customer journey map.

For example, the industries with the lowest average click-through

rates, such as Automotive Repair, Service and Parts and Industrial and
Commercial, may have a longer sales cycles and prospective customers
may spend more time in the consideration phase of their buyer’s
journey before they become a lead.

Facebook Ads Benchmarks 2024 13

LEAD GEN OBJECTIVE
Average cost per click
You get charged for clicks on your Facebook Lead Ads
regardless of whether those clicks turn into leads or not.
That’s why it’s key to keep your average cost per click as
low as possible to, in turn, lower your cost per lead, avoid
wasted spend, and maximize the amount of clicks your
campaign budget can afford.

However, keep in mind that you’ll also need to balance lead

quality versus quantity. For example, you might find it’s worth
it to stretch your budget and pay a slightly higher CPC if it
equates to higher quality leads.

The average cost per click in Facebook ads for lead

generation campaigns across all industries is $1.88. This is a
bit lower than last year’s average of $1.92.

The industries that spend the most per average click for
Facebook lead gen campaigns were Attorneys and Legal
Services at $8.50, Finance and Insurance at $4.57, and
Dentists and Dental Services at $4.10.

Facebook Ads Benchmarks 2024 14

Alternatively, the industries with the lowest cost per click for
Facebook lead gen campaigns were Sports and Recreation
($1.20), Real Estate ($1.36), and Business Services ($1.52).

Regardless of whether your CPC is up or down, it’s important

to remember that while the lead gen objective is focused on
lead conversions, cost per click can still be a key performance
indicator for your campaigns.

“Conversions have to be the main metric we

focus on. However given that Meta requires
so many conversions for its algorithm, it can
be helpful to pay attention to average CPC
as well. CPC rising means fewer people are
clicking on your ad, and that could be due
to ad fatigue or the wrong targeting.”
Navah Hopkins, PPC Evangelist, Optmyzr

Facebook Ads Benchmarks 2024 15

LEAD GEN OBJECTIVE
Average conversion rate
Unlike traffic campaigns which are focused on clicks,
the Facebook lead gen objective is a conversion-driven
campaign strategy. Compelling Facebook ads are at the
root of any Facebook lead gen campaign that has a high
conversion rate.

When you have the right mix of ad copy, creative, and a

coinciding landing page that best resonates with your
target audience, you’ll see your conversion rate soar.
Getting to that point, however, can take some time and
testing—which is why watching your lead gen campaign
CVR is so important to make data-backed Facebook ad
optimizations.

The average conversion rate in Facebook ads for lead

generation campaigns across all industries is 8.78%. This is
higher than last year’s average of 8.25%.

The industries with the highest Facebook lead gen conversion

rates were Industrial and Commercial (12.03%), Dentists and
Dental Services (9.83%), and Real Estate (9.70%).

Facebook Ads Benchmarks 2024 16

Meanwhile, the industries with the lowest conversion
rates were Restaurants and Food (4.03%), Physicians and
Surgeons (4.81%), and Automotive Repair, Service and
Parts (4.86%).

The fact that conversion rates have increased for most

industries using the lead gen objective isn’t a total
surprise—the ease of filling out a form directly in-platform
streamlines conversion paths.

“The in-platform lead form is more

appealing for users for particular
offers, and many businesses prefer
the accuracy of the leads reporting
compared to other conversion actions
that have greatly reduced in accuracy
over the years since iOS14.” Source

Brett McHale, Founder, Empiric Marketing

Facebook Ads Benchmarks 2024 17

LEAD GEN OBJECTIVE
Average cost per lead
Cost per lead is typically the core “money metric”
for most advertisers. It indicates whether you’re
getting the best bang for your buck from your
Facebook lead gen campaigns.
“The most important
The average cost per lead in Facebook ads for metric for measuring
lead generation campaigns across all industries
success is the one the
is $21.98. This is an improvement on last year’s
average of $23.10. business is paying for.
If they say they want
The industries with the highest Facebook ad lead
gen campaign costs per lead were Attorneys and
leads, then CPL is
Legal Services at $104.58, Automotive Repair, king. If they say they
Services, and Parts at $81.45, and Physicians and need web traffic, CTR
Surgeons at $57.97. or CPC may be more
The industries with the lowest cost per lead important.”
for Facebook ad lead gen campaigns were Real
Tyler Mask, Senior Manager of Social
Estate ($13.87), Sports and Recreation ($14.59),
Advertising & Custom Solutions, LocaliQ
and Business Services ($16.95).

While cost per lead is a critical metric when

measuring Facebook ads campaign success,
keep in mind that it may not be your only “end
all, be all” metric.

Facebook Ads Benchmarks 2024 18

How to improve your
Facebook ads performance
If you find that your Facebook ads results don’t align with your industry’s
average, you can improve your Facebook ads with these four tips.

Facebook Ads Benchmarks 2024 19

1. Leverage AI-powered
creative tools for improved
Facebook ad CTR
As you evaluate your campaign performance against the
benchmarks above, you’ll want to factor in your Facebook
ads creative. All Facebook ads, including lead ads, require
a visual element such as a creative social media image or
video. So, a more eye-catching industry, like Real Estate or
Sports and Recreation, may naturally drive more clicks.

If you are in a typically lower CTR niche market, there are

still ways you can improve your ad creative to be more
compelling. Use design tools like Canva, or even AI-
powered creative tools, to make your business stand out
with more unique, visually appealing ads.

“The number one thing a business can do right now with Jasper is one AI tool you can use to create product images for Facebook ads.
their Facebook ads is take the polish off and focus on being
real with their customers. Ads don’t have to look perfect,
but they need to strike a chord. Ask yourself this: if your
ads are perfect but you haven’t differentiated yourself “The positive performances in metrics like CPC and CPL could be due to a
from the market, why would someone choose you over a combination of factors. For example, there is now a wider variety of ad placements
competitor?” said Tyler. and creative formats available that increase the amount of real estate ads can
take up. There’s also rapid adoption of AI-driven tools (like Advantage+ audiences)
Getting creative with your formats and placements, with in both targeting and dynamic ad copy generation to be considered.”
the help of AI, could also lead to decreased CPC and CPL
averages for your account. Brett McHale, Founder, Empiric Marketing

Facebook Ads Benchmarks 2024 20

2. Enhance conversion rates using the
Facebook ads conversions API
Since your Facebook ads conversion rate is dependent on the
actions you choose to track, having a clean way to catch all potential
conversions coming from your ads is crucial.

The Facebook ads conversions API is a tool offered within Meta

Business Suite to share key web or offline conversion events directly
from your server to Facebook’s. Essentially, it connects your website
data to Facebook ads without having to use third-party cookies like
the Facebook pixel would.

In short, the conversions API is Facebook’s solution for tracking in-

platform performance by matching back to user attributes tracked
in your CRM (customer relationship management) system. Setting
up conversions API usually takes the assistance of a developer or
marketing partner, but it can be well worth it for enhanced conversion
tracking. For example, with the conversions API you could track
offline conversions such as in-store visits—which could increase your
campaign’s average conversion rate.

Facebook Ads Benchmarks 2024 21

3. Try Advantage+ audiences to lower
your CPC and CPL
Facebook now offers Advantage+ audience targeting that allows you to
reach beyond who you’d typically target manually to unlock new potential
customers. When you widen your reach using an Advantage+ audience,
you may find your costs go down as Facebook’s machine learning serves
your ads to audiences that best align your campaign objectives.

With this strategy, you might tap into users that are more likely to click
or convert—increasing your CTR and CVR can bring down your average
costs.

However, as you lean into AI-powered campaign capabilities, err on

the side of caution as machine learning within Facebook ads is still
developing. For example, Advantage+ audiences rely on the audience
suggestions you provide.

“Many advertisers are struggling with quality clicks and

leads more than ever with Meta’s strong encouragement of
AI-based campaign settings that tend to drive more vanity
metrics than bottom-line results. However, I believe as this
technology progresses the quality will improve.”

Brett McHale, Empiric Marketing, Founder

Facebook Ads Benchmarks 2024 22

“This data shows a bigger trend 4. Complement your strategy with
in the industry where businesses other channels
are spreading their advertising
Treat your Facebook ads campaigns as just one part of a holistic, all-
budgets across different platforms encompassing marketing strategy. There are tons of other marketing
channels you should use in tandem with Facebook ads to maximize
to get the best reach and efficiency. your results across the board.
Diversifying is still the smartest For example, you’ll likely want to also leverage other social media
idea. I don’t recommend going all platforms, plus SEO and search ads, to supplement your Facebook
Ads. This will increase your overall online presence and ensure you’re
in on one channel, regardless of capturing customers across all potential touchpoints.
whether it’s paid or not.”
Goran Mirkovic, CMO, Freemius

Facebook Ads Benchmarks 2024 23

Make the most of these 2024
Facebook ads benchmarks
These industry benchmarks can help you better understand how your Facebook
ad campaign performance is pacing against your typical competitor. If you find
that your business’s Facebook ads performance doesn’t align with industry
standard, remember, every business is unique and no two Facebook ad accounts
are the same. Try our four Facebook ad tips to start moving your account in the
right direction.
Plus, you don’t have to take on all your Facebook ad optimization work alone. See
how our solutions can help you solidify your strategy and maximize your Facebook
ads campaigns.

Let’s talk

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