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Trends by Triple Whale: Week of July 8th, 2024

Trends by Triple Whale: Week of July 8th, 2024

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Last Updated:  
July 10, 2024

Last week featured a holiday in the US that typically kicks off some summer sales: Independence Day! Did your business participate in 4th of July promotions? 

Let’s take a look at ad performance data from last week across Meta, Google Ads, and TikTok platforms for thousands of stores in our ecosystem. We’d expect to see some differences week-over-week with the effect of the holiday. We’ll also take a peek at some industry specific trends at the end of the blog. Without further ado, here’s the stats! 

Meta: Improvements Across the Board

When we investigate the trends for Meta ad performance during the week of July 1-7th, 2024, we can see CPA has dropped -2.15%, combined with an increase of +2.83% in ROAS. This pairing indicates a better use of the advertising budget. At the top of the funnel, CPC dropped by -6.58% and CPM dropped by -7.02% week-over-week, indicating a more efficient ad spend in this area as well. This is a big improvement compared to performance last week! 

Google: Stable Week-over-Week

Compared to Meta, the Google Ads performance week-over-week didn’t look as positive! CPA dropped by -0.53%, which is basically flat. ROAS dropped by -3.96% week-over-week, which indicates a less than efficient marketing spend at the bottom of the funnel. With CPC increasing only slightly (+0.24%) week-over-week and a -2.85% decrease in CPM, Google Ads performed relatively similar to last week at the top of the funnel. 

TikTok: Positive Trends for CPA and ROAS

At the bottom of the funnel, performance was trending in the right direction with CPA decreasing by -5.88% week-over-week, and ROAS increasing by +2.73%. At the top of the funnel, however, we noticed that there was a +6.07% increase in CPC, indicating less efficient spending. CPM dropped by -16.76%, however, which is a big improvement compared to last week. 

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 Revenue, and date range!

Interesting Industry Trends

For the week of July 1st to 7th, 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: -12.90% decrease in CPC on Meta, +10.88% increase in CPC on Google Ads

👕 Clothing: -15.46% decrease in CPA, +6.90% increase in ROAS on TikTok

🐶 Pet Supplies: -19.03% decrease in CPA, +13.49% increase in CPC on Google Ads

🏡 Home & Garden: +17.17% increase in CPA, -13.41% decrease in CPM on TikTok

🎾 Sporting & Goods: -12.79% decrease in CPA, +17.83% increase in ROAS on Meta

📺 Electronics: -33.57% decrease in CPA, -7.98% decrease 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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