A “good” conversion rate makes your business money. No matter the %.
Recent studies have determined that the average CVR across AdWords search is 2.7%, with services & B2B trending higher and Ecommerce trending lower. These numbers aren’t so useful because what constitutes a conversion, which can range from an email signup to a purchase, and whether tracking is properly setup both affect conversion rates. Where CTR is objectively measured by AdWords, CVR is defined by what the advertiser deems a conversion.
There’s some value in seeing general averages, but a “good” CVR will always be about positive ROI. We aim to find a CVR that keeps your AdWords account profitable, and will then optimize to maintain and improve that target CVR within your budget.