From an overview of our June performance metrics, to the exciting developments shaping the landscape of digital advertising, the following snapshot speaks to a month of innovation and growth in the world of Google Ads.
June Google Ads Performance
MoM Performance: Impressions decreased by 12% compared to May, with spending remaining similar. This was due to a slight increase in CPC (4%), resulting in a 15% decrease in revenue from Google Ads. The CPC rise, particularly in Brand terms (up by 14%), indicates heightened competition across various sectors. Going forward, advertisers should prioritise investing in Brand terms to maintain visibility.
YoY Comparison: Despite similar spending levels, revenue increased by 25% and costs are 6% lower compared to the same period last year. This trend, which was first identified in last month's Market Report, reinforces that now is the time to capitalise on cheaper clicks and impressions and get ahead of the competition, especially as many advertisers are reducing or pausing their investments.
Top Revenue Drivers: Performance Max and Shopping campaigns continue to lead in revenue generation, highlighting Google's push for e-commerce retailers to either begin or maintain investment in these campaign types.
Google Platform Updates
From June, the following key updates are impacting businesses across Google Ads and the broader Google landscape.
> Google has enhanced Local Inventory Ads to showcase nearby store product availability, with a view to boosting both foot traffic and online sales.
> Updates including AR integrations, interactive video ads and immersive product showcases have been implemented to enrich shopping experiences and drive higher conversion rates.
> AI-driven updates are improving search query matching in Google Ads, enhancing ad performance and brand control.
> Starting July 1, Universal Analytics will be discontinued and all data will be permanently deleted. PH Digital has archived client data from January 2020 onward; contact us for backups before 2020.
> Google Analytics is updating its paid search attribution model to better credit conversions to paid search campaigns, providing clearer insights into campaign effectiveness.
For more information, contact your strategist or email hello@ph.digital.