Curious to know how retail media, paid search and paid social performed over the course of July? Chris Costello, Senior Director of Marketing Research at Skai, is here to fill you in! Keep reading this guest blog post to check out Skai's Monthly Paid Media snapshot that can help you plan your campaigns ahead.
The Amazon Prime Day sales event helped drive average daily spending for the Retail Media channel up in July for nearly half of retail media advertisers compared to June. Overall spending increased by 10% as a result.
Search and social advertisers were more likely to see a decrease in spending, with only about a quarter of advertisers seeing their budgets go up. In both of these channels, unit pricing was also generally down, which contributed to the spending declines.
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.
Monthly Paid Media Spend Snapshot – July 2022
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.
Paid Search Spending
Overall, average daily spending in paid search dropped 5% from June to July.
Paid Search CPCs
Overall, the average cost of a click in paid search advertising decreased 3% from June to July.
Social Advertising Spending
Overall, average daily spending in social advertising dropped 11% from June to July.
Social Advertising CPMs
Overall, the average cost of a thousand impressions in social advertising decreased 7% from June to July.
Retail Media Spending
Overall, average daily spending in retail media advertising increased 10% from June to July.
Retail Media CPCs
Overall, the average cost of a click in retail media advertising rose 4% from June to July.
Come back next month for the most up-to-date data!