Chris "Coz" Costello, Senior Director of Marketing Research @ Skai
Chris "Coz" Costello, Senior Director of Marketing Research @ Skai
Starting this month, we will look at changes in spending based on average daily spend rather than total aggregate spend, to control for longer and shorter months.
April saw modest changes in spending patterns across channels. Paid social led the way with a 6% month-over-month increase in average daily spend and just over a third of accounts seeing at least a 10% increase. Retail media average daily spend grew 3% and paid search dropped by just one percentage point, with roughly equal shares of increases and decreases by search account.
Ad prices followed a similar pattern, with paid social seeing the largest change with a 20% increase in CPM, retail media seeing a more modest 5% increase in CPC, and paid search relatively flat at 1% higher click prices than in March.
How do you measure up? Check out these benchmarks to see if your programs are on par with your industry peers or if you’re ahead or behind the curve.
This is a continuation of our monthly paid media snapshot series. As with any benchmark, your mileage may vary, but we hope this provides a bit more context for you as a marketer as you navigate the ups and downs of your program’s performance.
Methodology: For these benchmarks, only Skai accounts with spend above a minimum threshold for the previous three months are included. As of April 2022, spending benchmarks use average daily spend to control for longer and shorter months. Please note that the selection criteria used here are different from the Skai Quarterly Trends Report, which can sometimes lead to different results from the two analyses.
Overall, average daily spending in paid search dropped 1% from March to April.
Paid Search CPCs
Overall, the average cost of a click in paid search advertising rose 1% from March to April.
Overall, average daily spending in social advertising increased 6% from March to April.
Overall, the average cost of a thousand impressions in social advertising rose 20% from March to April.
Overall, average daily spending in retail media advertising increased 3% from March to April.
Overall, the average cost of a click in retail media advertising rose 5% from March to April.
Come back next month for the most up-to-date data. Until then, you can dive into more of our research via our Quarterly Trends Reports hub.
And please visit the Skai blog and Research & Reports page for ongoing insights, analysis, and interviews on all things related to digital advertising.
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