Research shows ChatGPT ads generates just $0.89 per visit compared to Google search’s $2.45.
ChatGPT ads are significantly less cost-effective than Google Search Ads, e-commerce research has revealed.
OpenAI began testing ads in ChatGPT at the beginning on the year, starting in the US. Over the year, it has rolled this out to other countries in phases, coming to Europe in August and more recently, in Southeast Asia.
The Microsoft-backed company had expected to its ad revenue would reach $2.5bn in 2026 and $100bn by 2030, however, research by eMarketer predicts OpenAI will miss its targets.
This study – conducted by Christian Schulze, associate professor of marketing at Frankfurt School of Finance and Management, and Maximilian Kaiser, assistant professor at Vienna University of Economics and Business (WU Vienna) – examined 102 advertisers, and analysed nearly 10 billion sessions across 1,898 websites from June 2025 to August 2026.
It aimed to see whether ChatGPT ads could have the same value for advertisers as other major platforms.
Ads across ChatGPT underperformed against major channels including Google Ads, Google search, direct traffic and even the OpenAI’s unpaid recommendation. For traffic in the US, a paid ChatGPT ad generated $0.89 in revenue, whereas a visit from a paid Google search ad brought in $2.45 – that equates to 64% less.
ChatGPT ads were also not as effective, converting at just 0.37% compared to 1.17% for Google search ads.
At publicly reported ChatGPT ad prices, Google search advertising was 6.6 times better value for money in relation to revenue generated per advertising dollar.
Researcher Schulze explained: “ChatGPT is still a long way from becoming an economically viable alternative to Google as an advertising platform. What matters to businesses is whether advertising leads to purchases and delivers a return on investment.
“This is precisely where we see substantial weaknesses. Remarkably, even ChatGPT’s unpaid recommendations perform substantially better than its paid ads.”
Since ChatGPT has launched its ad programme, the platform has referred roughly 6%-8% fewer visitors to online shops through unpaid recommendations.
For advertisers using both channels, almost all (97%) earnt less revenue on ChatGPT visits with ads costing around $0.26 per click to mirror Google’s return on adspend, the researchers estimated.
Schulze continued: “OpenAI faces a fundamental trade-off: Advertising must be commercially attractive without compromising the value of ChatGPT for its users. Integrating ads more closely into responses could improve their effectiveness, but it could also undermine user trust.”
