Search Engine Land reports that CPC keeps rising across most industries, citing WordStream by LocaliQ data showing year-over-year increases in nearly 87% of industries and an average Google Ads CPC of $5.26. The same article also says Google’s AI Overviews are reducing above-the-fold visibility for both organic and paid results, which changes how much useful inventory remains in informational and exploratory search.  

For affiliates, that changes the economics of weak intent targeting. Broad search campaigns used to survive partly because the traffic was cheap enough to absorb a mediocre funnel. Once clicks get more expensive and fewer useful placements remain visible, the campaign has to be much more precise to justify itself. Cheap clicks matter less. Clean intent matters more. A keyword strategy built around curiosity instead of action gets punished much faster in this environment.  

This is why search arbitrage is starting to feel less like a volume game and more like a filtering game. The goal is no longer “get enough traffic and monetize it somehow.” The goal is “buy the part of search where the user is close enough to action that the economics still make sense.” That is not the death of search. It is just the end of lazy search.