Hey ,

With everyone being occupied with the BFCM rush these next couple of days, we know your focus lies on those benchmarks needed to measure success of your Black Friday campaigns. We pulled data from our top-performing brands to provide you with actionable insights into performance, conversions and spend volumes for BFCM 2024.

Dive right in!

Fospha data shows up 6% year-over-year for order volumes in the week leading up to Black Friday. Could 2024 be the biggest BFCM weekend we've seen so far?

Let's take a closer look at the benchmarks from this past month so you can can know what's coming.

Spend has been rising in the leadup to Black Friday, intensified by heavy competition and increased ad activity in those final few days of peak, starting on November 16th and spiking on the 24th.

Conversion spikes align closely with these increase in ad spend, particularly during the last week of November, highlighting the success of intensified campaigns. These numbers are continuing to tick up into Friday and over the weekend, so expect to see some more promising results!

When we take a closer look into major channel trends via CPMs, we see some steady growth in the runup to Black Friday and clear vantage points for more effective strategies coming into the mix.

Performance Max: 

• Rising CPMs towards the end of the month (peaking on November 25th) signal potential inefficiencies in ad spend as competition increases. These increasing CPMs in the latter half of the month could indicate further competition for ad placements as the weekend approaches. 

Meta:

• Meta’s CPMs show a steady rise throughout November. This upward CPM trend indicates that brands are bidding higher for visibility during this period. While Meta shows impressive engagement, the rising CPMs could eat into profit margins, especially during the high-competition period of Black Friday.  

TikTok: 

• TikTok is maintaining steady low levels (26% down from 1st November) between the 16th-19th, but have started to rise again as we near the peak days. This is part of a larger trend of TikTok CPMs dropping steadily throughout the year.

• Performance Max & Meta: Both channels are delivering strong results but at the cost of higher CPMs. Optimization through audience segmentation, creative testing, and strategic bidding can help offset the increased cost. 

• TikTok’s Advantage: TikTok’s lower CPMs offer an opportunity for more cost-effective advertising, especially during the peak holiday period. Brands should be leveraging TikTok for more budget-conscious campaigns without sacrificing engagement, particularly for targeting niche or younger demographics. 

2024 BFCM Highlights:

• Which channels drove the highest returns during the biggest shopping season.
• The surprising shifts in ad spend and ROAS throughout Q4.
• How brands optimized their budgets across Awareness, Consideration, and Conversion to crush their goals.

Evaluating Post-BFCM Performance: Industry benchmarks and expert tips to measure your campaigns' success and fine-tune your strategy for the months ahead.