The Readout – July 2023
nestcommerce.co
KEY TRENDS: GOOGLE
KEY TRENDS: GOOGLE
Google CPMs are now higher than Meta
Three creative trends for Google
Unexpectedly, the cost of Meta started falling throughout the first half of 2023, pushing average CPMs to a level 8% lower than Google’s in June, as aggregated data from Nest reveals.
PMax has effectively levelled the playing field for media buying on Google. Consequently, creative is now more important to stay competitive.
Simultaneously, we’ve seen a steady climb in Google CPM, with a 34% increase between January and June. Rising competition on Google is likely due to strategies shifting to DR and lower-funnel.
YouTube remains Google’s best channel for reaching new audiences. Instead of recutting TV ads, any creative you deploy here should be YouTube-first. There is an opportunity to leverage the delay to skip ads when planning the hook for your ad.
We recommend adopting a full-funnel performance approach to combat rising costs, leveraging Display, Discovery and YouTube.
-8%
lower average CPM for Meta in June
Google CPM
Jan
Feb
Mar
Creative best practices on Shorts are similar to TikTok and Reels. This creates a lower barrier to entry for brands already delivering strong results from short-form video on these platforms.
Meta CPM
Apr
May
Many advertisers are underestimating YouTube Shorts. Google announced in February that Shorts generated 50 billion daily views, compared to 140 billion daily views on Reels.
Jun
9
