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Trends by Triple Whale: Week of June 3rd, 2024

Trends by Triple Whale: Week of June 3rd, 2024

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Last week featured a big holiday that marks the true start of summer in the USA: Memorial Day. Picnics, backyard barbeques, and a copious amount of fireworks were likely set off last weekend. But what happened in the world of DTC sales? 

With our thousands of ad accounts on Meta, Google, and TikTok, we’re able to take a bird’s eye view of the trends in ad spend and performance. Here’s a look at how performance changed week-over-week across the major ad platforms, with a peek into interesting industry stats at the end! 

Overall Trends: Bargain Hunters?

When we look at the cohort of all industries and ad platforms together, we noticed that CPA was dropping across the board. It’s likely that, due to holiday promotions, customers were looking for deals and more likely to click and convert once they landed on a deal that met their needs. However, with discounted pricing, this would negatively impact ROAS (because you’re ultimately going to have less profit, the higher your discount is). There’s a balancing act here: you can acquire new customers at a lower cost, but will it be beneficial in the long run?

It’s important to monitor the lifetime value (LTV) of customers acquired during the holiday promotions, because if you’re attracting customers who aren’t returning, then you might not be attracting a customer who would make a repeat purchase when standard pricing is in place. Maybe it’s worth running promotions that don’t hurt ROAS as much if it means a more committed customer will join your roster. The best way to do this is using the Cohort Analysis tool in Triple Whale, and you can read more about it in this blog.

Now, let’s break down the ad performance by platform to see how things shook out for the week of May 27th-June 2nd:

Meta: CPA and CPC Improvements

Meta CPMs stayed relatively flat week-over-week (-1.00%), and CPC went down -3.31%. Performance improved at the bottom of the funnel with CPA going down -4.29% and ROAS increasing +0.82%. 

Google: Drop in ROAS 

Google CPM stayed relatively flat week-over-week (-0.29%), and CPC also stayed relatively flat at -0.27%. While CPA dropped by -6.87%, it seems that ROAS took a hit with a drop of -7.04% week-over-week. 

TikTok: Improving CPA and Worsening ROAS

TikTok top of funnel saw some ups and downs last week. TikTok advertisers experienced a +0.24% increase in CPM, but CPC increased by +6.97%. The bottom of the funnel had an interesting decrease in CPA (-9.67%), but it didn’t positively impact ROAS, as it also dropped -5.73% 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!

Interesting Industry Trends

For the week of May 27th to June 2nd, 2024, some industries had had metric trends that were different than the overall cohort indicated above. If your business is part of the below industries, did you experience something similar or entirely different? 

🍼 Baby: +11.8% increase in CPA for Google, +6.54% increase in ROAS for Meta

👕 Clothing: -13.55% decrease in CPA for Google Ads

🐶 Pet Supplies: -11.44% drop in CPA, +12.85% increase in CPM for Google Ads

🏡 Home & Garden: -44.37% decrease in CPA, but only -2.07% decrease in ROAS for TikTok

💄 Health & Beauty: -8.57% drop in CPA, but -17.41% decrease in ROAS on TikTok

📚 Books: -29.37% drop in CPA combined with -5.07% drop in ROAS on TikTok 

📺 Electronics: -31.76% decrease in CPA and +9.41% 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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