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Trends by Triple Whale: Week of May 20th, 2024

Trends by Triple Whale: Week of May 20th, 2024

Another week, another peek at ad performance across thousands of DTC companies using Triple Whale to optimize their advertising efforts. With so much data, we can take a macro-level view of what’s happening in the world of ecommerce. With that said, here’s what popped out at us when we looked at ad performance across all industries for the period of May 12-19, 2024 compared to the week prior.

Meta Performance: Business as Usual

At the top of the funnel, CPC (-1.83%) and CPM (-0.55%) are trending in the right direction. A low CPC will allow more clicks on your budget, and hopefully a greater return on your investment. Along the same lines, a lower CPM means more efficient ad spend on Meta across all industries. When we look at ROAS (-0.65%) and CPA (+0.68%), however, we can see that these metrics stayed relatively flat week-over-week. It’s important to note that being able to maintain higher ROAS post-Mother’s Day is impressive, considering we usually see a decrease in ROAS coming off any holiday where there’s usually discounting or additional buying intent. 

Google Ad Performance: Worsening CPA and ROAS

A look into Google ad performance shows that CPC (-1.44%) improved slightly, while CPM (+0.07%) remained relatively flat compared to last week. However, at the bottom of the funnel we noticed an increase in CPA (+4.60%) and a decrease in ROAS (-10.37%), indicating that there may have been worsening conversion rate and an impact on average order value (AOV). This has been a trend throughout the year that keeps showing up week after week. 

TikTok Ad Performance: Worsening Performance Week-over-Week

At the top of the funnel, CPM (+5.91%) and CPC (+5.63%) both rose week-over-week, indicating that it was more difficult to secure new customers on TikTok last week compared to the week prior. The worsening performance continued at the bottom of the funnel, with an increased CPA (+8.89%) and dip in ROAS (-7.35%) compared to last week. 

Interesting Industry Trends

For the week of May 12-19th, 2024, some industries had ad metric trends that were different than the overall cohort. If your business is a part of these industries, did you experience something similar?

🍼 Baby: -18.76% decrease in CPA, +36.93% increase in ROAS for Meta

👕 Clothing: -8.33% decrease in CPA for Google Ads, along with -12.67% decrease in ROAS

🐶 Pet Supplies: -6.38% drop in CPA and +7.89% increase in ROAS for Meta

🏡 Home & Garden: -16.86% increase in CPA along with -18.90% decrease in ROAS on TikTok

💄 Health & Beauty: A -18.88% increase in CPA and -10.02% drop in ROAS on Google Ads

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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