AdRoll Insights Show Stabilizing Advertising Trends
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AdRoll’s Q3 2024 State of Digital Marketing Report
AdRoll, a leading marketing and advertising platform that helps business-to-consumer brands grow their businesses, has released the Q3 2024 edition of its State of Digital Marketing Report. This comprehensive summary draws from marketing and advertising trends and insights consolidated from over 20,000 online businesses, offering valuable ideas to enhance digital marketers' return on investment (ROI).
Highlights from the Report
In Q2 2024, display cost per mille (CPM) was 47% higher than the previous year, indicating a return to a more normal trajectory in advertising spend. This marks a significant shift from the pessimism and budget cuts witnessed in Q2 2023. Additionally, social media advertising costs, assessed by average CPM across various platforms, have also begun to stabilize. For instance, TikTok's CPM was lower and more stable compared to last year, while Pinterest experienced a 30% increase in CPM on average in Q2 2024 versus a year ago. This reflects a more balanced approach by social media advertisers in budget allocation among Meta, TikTok, and Pinterest.
Outlook for the Digital Advertising Marketplace
The future of the digital advertising marketplace in the upcoming months appears uncertain. Factors such as the economy, interest rates, consumer sentiment, and the election cycle could affect advertisers' ROI in different ways. Advertisers are advised to closely monitor their campaign performance, especially towards the year's end when the election and holiday shopping seasons converge.
Data Strategy Recommendations
Andrew Pascoe, vice president of data science engineering at NextRoll, AdRoll’s parent company, emphasized the importance of adapting to Google's new approach to third-party cookies. He stated that advertisers should prioritize first-party and zero-party data strategies. Those who depend solely on third-party cookies risk losing their target audience and experiencing decreased campaign performance, which directly impacts their ROI. Utilization of already acquired data will help businesses discover effective ways to engage and activate customers.
About AdRoll
AdRoll is a marketing and advertising platform that aids B2C businesses in running, measuring, and optimizing multi-channel, full-funnel marketing campaigns. Leveraging advanced AI and automation, the AdRoll platform analyzes both real-time and historical data to boost traffic and sales. With more than $246 billion in sales generated annually by its users, AdRoll has supported over 140,000 brands since its inception in 2006. It operates as a division of NextRoll, Inc.
Media Contact
Katie Jewett
Public Relations for AdRoll
adroll@upraisepr.com
415-397-7600
Frequently Asked Questions
What does the Q3 2024 report from AdRoll cover?
The report covers marketing and advertising trends based on insights from over 20,000 online businesses, focusing on enhancing ROI.
How has the advertising cost changed since last year?
Display cost per mille (CPM) has increased by 47%, indicating a return to more typical advertising spend patterns.
What is the outlook for digital advertising for the remainder of the year?
The outlook is uncertain due to several influencing factors such as economic conditions and consumer sentiment.
What strategies should advertisers focus on according to the report?
Advertisers should enhance their first-party and zero-party data strategies while shifting away from reliance on third-party cookies.
How does AdRoll support its clients?
AdRoll helps clients run, measure, and optimize marketing campaigns using advanced AI and data analytics to drive sales and traffic.
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