# ChatGPT Ads study finds paid visits earned $0.89 each, against $2.45 for Google search ads

Published: 2026-11-02T14:46:01.869Z · Source: Kaiser & Schulze (ecommerceresearch.org) (https://ecommerceresearch.org/chatgpt-ads/)
Second source: Search Engine Journal (https://www.searchenginejournal.com/google-search-chatgpt-ad-revenue-per-visit/595596/)
Source date: 2026-11-02
Flags: Kaiser & Schulze working paper — not peer-reviewed; data supplied free by Grips Intelligence, whose adviser is a co-author
Entities: chatgpt, openai, google

A working paper by Maximilian Kaiser (Vienna University of Economics and Business) and Christian Schulze (Frankfurt School of Finance & Management) finds that in U.S. traffic a paid ChatGPT visit brought advertisers $0.89 in revenue, against $2.45 for a paid Google Search visit. Paid ChatGPT visits converted at 0.37% versus 1.17% for paid search. The paid-ad figures come from 102 advertiser sites with full sales tracking; 73 of the 87 that bought both channels recorded no sales from ChatGPT ads, and one advertiser accounted for 66% of all ChatGPT ad purchases, per Search Engine Journal's reading of the paper.

At paid search's rate of return, the authors value a ChatGPT ad click at about $0.26 (range $0.05-$0.57 once resampled for that one advertiser), against $1.72 paid by the largest publicly known account. The paper also estimates organic ChatGPT referrals to 1,898 sites fell about 6-8% in the first 13 weeks after ads launched relative to the EU, which had no ads; conversion among those visits was unchanged. The data window ends Aug. 22, and the authors note the comparison reflects advertisers who chose to buy ChatGPT ads rather than proving the ads caused the results.

Why it matters: Early advertiser results are the first independent test of whether ChatGPT ads can stand beside search ads on return, and the paper's own caveat, that one advertiser drives most sales, means it is a first reading rather than a settled one.

## What this answers

**Do ChatGPT ads perform as well as Google search ads?**

Not in one working paper's U.S. data: a paid ChatGPT visit brought in $0.89 in revenue against $2.45 for a paid Google Search visit, and converted at 0.37% versus 1.17%.

**Did ads in ChatGPT reduce organic referrals to websites?**

The same paper estimates organic ChatGPT referrals fell about 6-8% over the first 13 weeks after ads launched, relative to the EU where there were no ads, while conversion among those visits did not change detectably.


Canonical: https://anythingengineoptimization.com/item/2026-11-02-chatgpt-ads-study-finds-paid-visits-earned-0-89-each-against-2-45-for/
From Anything Engine Optimization (AEO Wire) — https://anythingengineoptimization.com/ · Standards: https://anythingengineoptimization.com/standards/