Father’s Day was last week - did we see any big changes from the norm in the ad performance data? The total spend for Father’s Day was expected to reach $22.4 billion, and signs point to higher spend, but what about return on investment?
If your business is in a Dad-gift friendly industry, how did you fare last week?
Let’s take a look at the trends in ad performance across Meta, Google Ads, and TikTok for all Triple Whale ad accounts during the week of June 10th to June 16th, 2024. Here’s a look at how performance changed week-over-week across the major ad platforms, with a peek into interesting industry-specific stats at the end!
This week, we’ve got some high-level interpretations of these trends from two of our agency partners:
When we evaluate trends across all industries for Meta ads last week (June 10-16, 2024), the largest change is with CPA, with an increase of +0.89%. The bottom of the funnel also showed a relatively flat change week-over-week for ROAS, with a drop of only -0.14%. The top of the funnel also didn’t fluctuate much compared to last week, with CPM increasing by +0.19% and CPC dropping by -0.55%.
The largest change for Google Ads last week was in CPA, which rose +7.27% week-over-week. Combined with a drop in ROAS of -5.33%, the bottom of the funnel wasn’t doing too well last week! CPC dropped slightly (-0.24%), and CPM increased by +1.69%.
The biggest change week-over-week for TikTok ad performance was in CPA, with an increase of +9.94%. Even though there was a nearly 10% increase in CPA, there was also a nearly 10% increase (+9.73%) in ROAS. At the top of the funnel, stats were also trending in the right direction, with a -3.07% drop in CPC and -8.61% drop in CPM week-over-week.
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 9th to 16th, 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: -6.04% decrease in CPA, -6.68% decrease in CPM for Google Ads
👕 Clothing: -9.70% decrease in CPA for Google Ads (reverse of overall cohort)
🐶 Pet Supplies: +0.68% increase in ROAS for Google Ads
🏡 Home & Garden: -57.38% decrease in CPA, +13.37% increase in ROAS on TikTok
🎾 Sporting & Goods: +4.65% increase in ROAS, -3.05% decrease in CPC on Meta
📺 Electronics: +6.14% increase in CPA, -6.35% decrease in ROAS on Google Ads
Each week, we’re adding a little extra insight to our data trends from some of our agency partners. This week, we have Dr. Jonathan Snow from Avenue Z and TJ Lee from Vagabond Digital providing their takes on the trends seen across Triple Whale users, compared to their own agency data.
“Triple Whale's Trends mirrors our data at Avenue Z closely. Meta has been fairly stable throughout Q2 in terms of the metrics that matter. Within Meta spend, however, we've seen a higher indexing of spend go towards FB and IG Reels, which is Meta's biggest focus for 2024.
Another interesting thing is that while TikTok CPA rose 9.94%, you'd expect to see a proportional decrease in ROAS. Given that Trends tracked a 9.73% increase in ROAS on TikTok, this tells me that AOV has increased substantially on the platform, could be due to brands merchandising differently or an increase in higher AOV brands onboarding. If the latter, this would also explain a platform-wide rise in CPA as conversion rates are far lower on higher AOV brands. Keep the data coming!”
"As we analyze the recent data from Triple Whale for the week of June 17, 2024, it's evident that the ecommerce landscape is continuously evolving, especially around significant events like Father's Day. Our agency's recent campaigns have mirrored many of these trends, providing valuable insights for strategic adjustments.
On Meta, we observed minimal changes in ad performance, which aligns with our own data showing a stable cost per acquisition (CPA) and return on ad spend (ROAS). This stability suggests that brands with a solid Meta strategy can expect consistent performance, even during peak shopping periods. For instance, our campaign for a leading fashion retailer saw only a slight 0.5% increase in CPA, reflecting the broader trend of stability on this platform.
Google Ads presented more challenges, with a notable 7.27% increase in CPA and a 5.33% decrease in ROAS. We did see certain sectors, such as Fragrance, go against this trend in the week leading up to Father’s Day, but most other verticals had a tough week as competition increased, perhaps without the buying power. Seasonality adjustments are paramount during these periods to help ride the wave without losing too much efficiency.
Interestingly, TikTok showed a spike in both CPA and ROAS, each nearly 10%. This dual increase reflects our findings from a recent campaign for a consumer electronics brand. Despite higher acquisition costs, the engaging content we created drove a significant uptick in sales, underscoring TikTok's potential as a high-ROI platform for brands willing to innovate and engage creatively. We’re beginning to see the AOV trend upwards on this platform now which is following in the footsteps of early Facebook and Instagram ads.
From an industry perspective, sectors like Home & Garden and Sporting Goods stood out with significant improvements in ROAS and decreases in CPA on platforms like TikTok and Meta, respectively. This resonates with our work for a homeware client, where we leveraged TikTok's creative ad formats to achieve a lovely 13% increase in ROAS, despite not being focused on Father’s Day.
As a performance marketing agency, we see these insights as pivotal in guiding our clients to adapt and thrive in a competitive market. By staying ahead of these trends and understanding platform-specific dynamics, we can drive better outcomes and sustained growth for ecommerce brands."
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!
.png)
© Triple Whale Inc. 266 N 5th Street, Columbus OH 43215
.png)
