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Trends by Triple Whale: Week of July 15th, 2024

Trends by Triple Whale: Week of July 15th, 2024

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Hey, how did your ads perform last week? I can tell you how a few thousand ad accounts performed across Meta, Google Ads, and TikTok, if you’re curious! 

We’re right in the middle of summer, which brings sunshine, family vacations, and a little less spending on online purchases. It’s common for there to be a dip in paid media ads results during this time, but is that what our cohort of Triple Whale customers experienced during the week of July 8th to July 14th, 2024? 

Let’s take a peek at week-over-week performance to see if the summer heat is making an impact! 

summary of ad performance stats for week of July 8th to 14th 2024

Meta: Business as Usual

Last week, there was a better use of the advertising budget at the bottom of the funnel, whereas this week CPA increased by +2.13%, while ROAS dropped by -3.58%. While it isn’t a gigantic change, it does indicate less efficient use of the advertising budget week-over-week. At the top of the funnel, CPC dropped by -0.32% and CPM dropped by -0.74%, which wasn’t a major change from last week (with positive statistics), which means Meta is still performing relatively well. 

Meta ROAS week-over-week comparison chart for week of July 8-14 2024

Google Ads: Feeling the Summer Heat?

google ads performance data for week of July 8-14 2024

This week’s performance for Google Ads indicated less efficiency at the bottom of the funnel, with a +5.90% increase in CPA combined with a huge drop of -12.58% in ROAS. Not looking too hot! At the top of the funnel, there were only slight changes in CPC (-1.95%) and CPM (-0.57%). Are Google Ads feeling the summer slump? 

line graph featuring week over week performance for google ROAS for july 8-14 2024

TikTok: Trending in the Wrong Direction

summary of TikTok ad performance for july 8-14 2024

Compared to the other two platforms, TikTok suffered a major negative trend in poor performance. CPA was up +14.68% combined with a drop of -5.56% in ROAS, indicating less ad efficiency at the bottom of the funnel. Things didn’t look great at the top of the funnel, either, with CPC increasing by +16.07% and CPM up +12.53%. It appears TikTok is feeling the effect of summer vacations as well!

Line graph featuring week over week comparison data for CPC on TikTok ads for week of July 8-14 2024

Want to dive deeper into the data? Sign up for Trends for free to filter these metrics by Industry, AOV, Annual Revenue, and date range!

Interesting Industry Trends

For the week of July 8th to 15th, 2024, we noticed a few industries that had metrics that stood out from the overall cohort. If your business is part of the industries listed below, did you experience something similar?

🍼 Baby: -10.41% decrease in ROAS on Meta, -7.95% decrease in CPA on Google Ads

👕 Clothing: +12.69% increase in CPA, +8.01% increase in ROAS on TikTok

🐶 Pet Supplies: +18.17% increase in CPA, -11.83% decrease in ROAS on Google Ads

🏡 Home & Garden: +0.18% increase in CPA, -20.46% decrease in ROAS on Gogole Ads

🎾 Sporting & Goods: +19.09% increase in CPA, -9.54% decrease in ROAS on Google Ads

📺 Electronics: +11.68% increase in CPA, +6.45% increase in ROAS on TikTok

Overall, some interesting trends coming from the data! If you’re curious how other industries performed, you can check out our free Trends tool here. You can even add your own ad data to benchmark your performance to that of your peers. It’s cool, you should check it out!

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