From an overview of our October performance metrics, to creative trends shaping the landscape of Meta marketing, the following snapshot speaks to a month of innovation and growth in the world of paid social advertising.
MoM Performance: In October, we saw a 5% increase in ad spend, although revenue decreased by 1%. Over the past two months, there has been a gradual rise in advertising spend, but purchase growth has remained largely flat, with minimal movement overall.
YoY Growth: October saw a substantial 60% increase in ad spend, alongside a 35% rise in revenue. Between September and October, spend surged by an average of 50%, reflecting a strong focus on building brand awareness. With CPMs (cost per thousand impressions) up by 30% year-on-year, advertising has become more expensive as more brands turn to social media for their campaigns.
Looking Ahead: To safeguard your campaigns during the busy peak trading season, we recommend setting up a backup ad account in your Business Manager. This will help mitigate any potential disruptions should your primary ad account experience issues. Please reach out to your strategist for guidance on how to set this up
When it comes to social media, timing is key to boosting your organic reach and driving engagement. Hootsuite’s 2024 study has identified the best times to post across various platforms, helping brands make the most of their content.
For e-commerce brands, posting at these peak times can significantly increase your visibility and engagement, driving more traffic to your site and improving conversions.
For more information on the latest Meta updates, contact us today.