Meta & Google campaign benchmarks for CPM, CTR & CPC for New Zealand in 2023.
There are a bunch of factors that influence the performance of your digital advertising and you are often left wondering how your campaigns are performing compared to others.
Ever wondered how you stack up when it comes to cost-per thousand impressions (CPM), average Cost-per click (CPC) and click-through rate (CTR)? Well look no further!
In collaboration with Aro Digital we have been able to provide a benchmarking tool on these top metrics across Google and Meta platforms. We’ve also broken it down by industry, platform and channel so you can see how your campaigns are fairing compared to heaps of other advertisers. This data is typically hard to come across in little old New Zealand making it difficult for SMEs and marketers to know where they sit.
Even better, the data also gets refreshed weekly so you can see how things are going month-to-month.
Updated: January 2023
Updated: January 2023
Advertising across Meta platforms (Facebook and Instagram) has decreased by 38% MoM and CPCs have seen a drop of 45% on average. The classic hangover from businesses loading all of their spend into November and December last year for Black Friday and Christmas. There is potential opportunity for businesses to capitalise on a cheaper advertising environment in the first quarter of the year.
The biggest drop in competitiveness (CPM) so far this year has came from the technology industry ($20 vs. $30 the year prior), closely followed by Real Estate ($8 vs. $13 the year prior). It will be interesting to see advertisers in Real Estate will continue to see less competition throughout the year.
The Performance Max campaign type is proving to be considerably cheaper and more cost effective in terms of traffic with an average CPC of $1.09 compared to standard search campaigns with a CPC of $2.31. However, please note Performance Max also includes advertisers who are running shopping ads which typically have a lower cost to serve than standard search inventory. Also, the quality of inventory where your ads are served may be quite low and unfortunately, you do not have too much control over where your ads are shown.
With access to over 12 months worth of data you could use these metrics to plan your advertising budgets in advance, giving you an estimate of the potential impressions and clicks you would expect to get across various channels, and how you could maximise your budget.
If you are currently running campaigns you can go in and compare whether the CTR for your ads and see whether they cut the mustard, or are outperforming advertisers similar to you.
Using this tools presented in the dashboard can weigh up the pros and cons of advertising on specific channels like Instagram, Facebook, or both! Note that depending on the conversion rate of your website may vary as well as the channel, which is something you need to factor into when making decision on where best to spend your budget.
We review the pros, cons and pricing for the most popular courses.
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