ClickZ Paid Social Marketer Newsletter - 09.19.2024

PLUS: Fospha's eCom Peak Period Webinar on 3rd Oct 2024 & Importance of Bidding on Your Own Brand in Google Ads

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ClickZ
September 19, 2024 • Estimated Reading Time: 5 minutes

Specialty Bites 🍪

Get ready, because we're about to explore the unpredictable world of Google Ads costs in 2024. The numbers vary widely, with businesses spending anywhere from $100 to $10,000 per month, and most clicks ranging between $0.11 and $0.50. If you're focusing on impressions, expect to pay between $0.51 and $1.00 per thousand. However, your industry, keywords, and ad network all significantly influence the final costs.

If you're in sectors like legal or real estate, be prepared for higher expenses—these keywords are in high demand. And when it comes to Quality Scores, think of Google as the tough grader that rarely hands out perfect scores. A low Quality Score means you'll pay more just to get noticed.

But it's not all bad news. With the right strategy, even small businesses can compete with larger companies. Your bid is your key asset, and your budget is your shield—use them wisely, and you could see success. Ready to navigate the world of Google Ads? Let’s get started!

Bidding on your own brand in Google Ads can significantly boost your click-through and conversion rates. Organic search alone doesn't capture all potential clicks. By strategically using Performance Max campaigns and setting high ROAS targets, you can enhance your brand's visibility and drive more sales. It's a nuanced, worthwhile strategy.

Broad match keywords are becoming the default in Google Ads, expanding reach by including synonyms and variations. While they offer greater visibility, they can attract irrelevant traffic. Smart Bidding optimizes bids, but careful monitoring and negative keywords are essential. Balance broad match with exact and phrase matches for best results.

Marketers expect sales growth to outpace ad spend in Q4 2024, driven by diversified retail media strategies. AI and programmatic advertising are key for efficiency and personalization. With a competitive holiday season ahead, optimizing ad spend across channels is crucial. Retailers are optimistic about boosting sales and ad budgets.

Performance Platters 🍽️

Fospha's latest report, "The State of E-Commerce H2 2024", reveals crucial trends that will shape your marketing strategy. What's inside:

  • 📱 How the major platforms' KPIs have trended in 2024, and where you should be investing. 

  • 🚀 How to access Paid Social's huge scaling potential. 

  • ✨ The most effective Google channel of 2024.

  • 🎯 Full-funnel strategies for Meta, TikTok and Snapchat

Let's break down the platform-specific insights: 

  • TikTok: Emerging as a powerhouse for efficient new customer acquisition 

  • Meta: Maintaining strong performance with competitive CAC 

  • Snapchat: Experiencing rapid growth, particularly effective during peak shopping periods 

"These findings underscore how impactful platforms like Meta, TikTok and Snapchat continue to be for driving sales - yet how underinvested they remain. It's incredible to see that brands can triple spend in Paid Social before becoming unprofitable. Success now lies in diversifying across the entire funnel, understanding the nuances of each platform, and continuously optimizing to unlock more scaling potential." 

Jamie Bolton, VP Growth at Fospha

WPP and Coca-Cola topped the 2024 Cannes Lions creative charts, with Coca-Cola winning 17 awards. WPP was named Creative Company of the Year. Heineken and Apple followed in the rankings. The United States was the most creative country. The LIONS Creativity Report highlights impactful creativity driving growth.

Shopify partners with Roblox to integrate in-game shopping, allowing brands to sell physical items directly within the game. This collaboration targets Roblox's 80 million daily users, with a full launch in 2025. Shopify's president highlights the endless possibilities, emphasizing the future of immersive commerce in the digital world.

Ad spend in 2024 is set to rise, driven by retail media, value-based messaging, political ads, and CTV monetization. The IAB projects an 11.8% increase, with retail media leading due to high CPG and beauty spend. AI in search could further boost Q4 advertising.

ClickZ is a Contentive publication in the DTC Ecommerce division