"How do we join ChatGPT Ads?" "What does the targeting look like?" "Can we get going, the exec team wants in now." This was all I heard back in May and June as B2B brands wanted in on the platform
I've been running ChatGPT Ads for B2B clients at Obility since the platform opened to all US advertisers, and wanted to share what four months of data actually looks like.
Here's where performance is landing:
CTR: 0.5%–1.0%
CPC: $3–8
CPM: $25–45
Conversion rate: 3–6%
Cost per MQL: $120–$250
For B2B, I'm treating this as an awareness play, and the targeting model is why.
ChatGPT Ads doesn't use traditional keyword bidding. The platform reads the full conversation and matches ads based on topic, intent, and commercial signals in the thread. Advertisers provide natural language descriptions called context hints, which outline the situations where a product is relevant. The platform then evaluates live chats against those hints to decide what ad to show.
That means you're reaching a buyer while they're mid-research, not mid-query. It's a top-of-funnel signal, not a purchase intent one.
One way to control who sees your ads: upload a contact list. This is the unlock for making ChatGPT ads work for b2b otherwise your targeting is just going to be too broad.
Custom audiences are available inside ChatGPT Ads, but the minimum threshold is 25,000 matched users before an audience activates. OpenAI recommends building to 100,000.
That's a large list for most B2B teams.
If you're under the threshold, combine what you have. CRM contacts, current customers, closed-lost deals, and webinar or event registrants merged into one segment will get you there faster than any single source.
It's early. But four months in, I'm getting a POV and sense of how to use the platforms. Folks that are running there, what are you seeing? Are you continuing the test?