Skai releases Digital Marketing Quarterly Trends Report for Q4 2023

Today, Skai, the leading omnichannel advertising platform, released its Q4 2023 Digital Marketing Quarterly Trends Report. This is an in-depth analysis of the digital marketing trends that defined the fourth quarter of this year, as well as an interactive infographic detailing key analytics. The holiday season saw spending increase across major digital channels, with each channel taking a slightly different path to growth.

Spending across channels in Q4
Spending increased quarter-over-quarter across all channels due to the holiday season surge. Q4 similarly saw year-over-year (YoY) spending increases everywhere, with retail media up +27%, paid social +15%, and paid search +4%. Skai now includes his TikTok, YouTube, and LinkedIn in his paid social analytics, so growth rates may not be directly comparable to previous reports.

Increased advertising prices and conversion rates in retail media and search
Average cost-per-click (CPC) increased by 18% in retail media and 13% in paid search in Q4 2022, but these increases were offset by conversion rates that rose more than 10% across both channels. Ta. Higher conversion rates can also result in higher click prices, as the algorithm adjusts to meet performance goals. Conversely, a higher CPC may also improve performance.

race to the bottom (of the funnel)
Spending on product ads on meta increased by 70% from Q3 to Q4, and spending on sales-focused campaigns increased by 63% as the lower part of the sales funnel was activated during the holiday season. did. The new Advantage Shopping Campaigns Plus service saw spending more than double quarter-over-quarter in the format’s first full holiday season as part of a wave of lower-funnel spending in the channel.

Shopping campaigns evolve with paid search
In the fourth quarter, we experienced a significant decline in impressions and clicks within the search channel, primarily due to the shift from traditional shopping campaigns to P-MAX. New ads imply changes in targeting, ad inventory, or a combination of both, resulting in higher click-through rates, lower impressions at higher click prices, and similar overall spending trends. .

Other quarter-on-quarter and year-on-year comparison results are as follows.

“The fourth quarter is always dominated by the role of commerce media, and this year was no exception. Advertisers continue to see the value in these programs and reward them with increased investment.” Ta. chris costello, Senior Director of Marketing Research at Skai. “But while the role of commerce media is consistent across channels, the specifics in the fourth quarter were very different. New advertising products such as P-MAX for paid search and Advantage Shopping Campaigns Plus for paid social Retail media has expanded into programmatic display to offer a more full-funnel approach, and it’s an exciting time to be in this space. .”

For more information and to view infographics, visit skai.io/digital-marketing-trends/.

methodology
The analysis is sampled from a population of approx. 9 billion dollars It is comprised of more than 3,000 advertiser and agency accounts across 40 vertical industries and more than 150 countries running on the Skai™ platform from Google, Microsoft, Baidu, Yandex and Yahoo!. Japan, Verizon Media, Amazon, Walmart, Instacart, Criteo, Kroger, Apple Search Ads, Pinterest, Snapchat, Facebook, Instagram. Unless otherwise specified, only advertisers with 15 consecutive months of performance data are included. Some additional outliers have been excluded. Advertising costs and prices, if applicable, have been converted to U.S. dollars at the time the costs were incurred. Mr. Sky does not claim that these figures are fully representative of the larger market.

For more updates like this, follow us on Google News martech news