What did ad performance across Meta, Google Ads, and TikTok look like last week for a few thousand Triple Whale ecommerce stores? Well, I’m about to tell you!
The performance changes week-over-week for June 17th to 23rd are below, and we’d expect some numbers to fluctuate considering last week included a holiday (Father’s Day). We’ll also take a peek at some interesting industry specific stats at the end. Without further ado, let’s see the numbers!
Taking a look at trends across all industries for Meta ads during the week of June 17-23, 2024, the largest change we see is with ROAS, which grew by +3.54% week over week. Another positive at the bottom of the funnel was a -1.72% drop in CPA, which signifies a better use of the advertising budget in combination with that higher ROAS. At the top of the funnel, CPC dropped by -1.46% and CPM dropped by -2.38% week-over-week, meaning more efficient ad spend in this area as well.
Things aren’t looking as rosy for Google Ads compared to Meta! CPA suffered a huge jump of +19.11%, and ROAS dropped by -8.81%, indicating a huge decline in marketing efficiency on Google Ads. The top of the funnel suffered a little less, with only a -1.62% decrease in CPC and +1.48% increase in CPM.
Metrics for TikTok were mostly trending positive, except for a +7.09% increase in CPA. ROAS is trending upwards with an increase of +5.70%, and both CPC (-12.91%) and CPM (-1.37%) were trending downwards, indicating mostly more efficient marketing efforts at the top of the funnel.
Want to dive deeper into the data? Sign up for Trends for free to filter these metrics by Industry, AOV, Annual Rev, and date range!
For the week of June 17th to 23rd, 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: -5.26% decrease in CPC, -4.75% decrease in CPM for Meta
👕 Clothing: +44.69% increase in CPA (what?!) plus -9.76% decrease in ROAS on Google Ads
🐶 Pet Supplies: +37.16% increase in CPA, -16.81% decrease in ROAS on Google Ads
🏡 Home & Garden: +59.70% increase in CPA, +24.08% increase in CPC on TikTok
🎾 Sporting & Goods: +10.27% increase in CPA on Meta
📺 Electronics: +88.19% increase in CPA, +27.52% increase for CPC on TikTok
Each week, we’re adding a little extra insight to our data trends from some of our agency partners. This week’s take comes from Justin Buckley, Co-Founder of ATTN Agency.
“I think there are two considerations when looking at this. The first is that we are coming off two fairly large holidays, Memorial Day and Juneteenth. The second is that summer months will generally be less active buying periods as consumers will tend to spend more discretionary cash on vacations, travel, eating out.
When we think about the combination of these factors, we can expect a decrease in MAU, but an increase in ad spend. This often results in a more competitive bidding environment and increased CPMs. We can also expect that post holidays most consumers have been pulled forward through discounts and purchased if they were on the fence. This means more of our marketing investment is going towards demand generation, increasing our average CPA and compressing ROAS.”
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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© Triple Whale Inc. 266 N 5th Street, Columbus OH 43215
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