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Unpacking BFCM Trends: Insights and Actionable Takeaways

Category
eCommerce, Industry Updates, Marketing Strategy
Date
December 7, 2023
Author
Mason Interactive
Social

As we bid farewell to yet another exciting Black Friday and Cyber Monday (BFCM) shopping frenzy, it’s imperative to reflect on the performance metrics that shaped this year’s Cyber Week landscape. CPMs were up. Clients hit their goals. Our most successful clients diversified their media mix to reach customers where they are, thus achieving a lower blended CPM. The data speaks volumes, providing valuable insights to guide your brand’s future strategies.

Here’s a snapshot of key trends and takeaways from the BFCM advertising landscape:

Meta (formerly Facebook) Dominates, but at a Cost:

  • Black Friday: Year-over-year (YoY) CPMs surged by +15.1% to $29.30.
  • Cyber Monday: The upward trend continued, with CPMs rising by +14.4% to $32.29.
  • Takeaway: Unsurprisingly, advertising costs on Meta are on an upward trajectory. While the platform remains a powerhouse for reaching customers, brands need to factor in the rising expenses and optimize their platform strategies accordingly.

TikTok: Affordable Authenticity Shines:

  • Black Friday: YoY CPMs took a nosedive, decreasing by -33.6% to a cost-effective $10.91.
  • Cyber Monday: The trend continued, with a -7.5% decrease, bringing CPMs to $11.54.
  • Takeaway: TikTok emerges as a beacon of affordability, providing brands with a dynamic and authentic platform to engage shoppers. The significant drop in CPMs signifies an opportunity for brands to leverage TikTok for a cost-effective, diversified advertising strategy.

The Trade Desk: Efficiency Personified:

  • Black Friday: The Trade Desk stole the show with an impressive average CPM of $3.74.
  • Cyber Monday: Efficiency at its peak, with CPMs plummeting to an astonishing $1.75.
  • Takeaway: For brands aiming for efficiency without compromising reach, The Trade Desk proves to be a standout performer. With remarkably low CPMs, brands benefit from increased visibility, contributing to heightened Brand and Direct searches.

Key Action Items:

  • Diversify Platforms: While Meta remains influential, consider diversifying your ad spend across platforms like TikTok to capitalize on cost-effective authenticity.
  • Optimize Meta Strategies: Given the rising CPMs on Meta, focus on refining your targeting, creative, and bidding strategies to maximize the impact of your ad dollars.
    • Our audience technology allows us to do just that. 
  • Explore The Trade Desk: If efficiency is a priority, consider allocating budget to The Trade Desk for a cost-effective approach that doesn’t compromise on reach.
    • The Trade Desk is a platform to buy premium advertising inventory via publishers and streaming services (CTV), in an extremely targeted and cost-effective manner.
    • We pay an annual fee of $200K for our seat at TTD so you don’t have to. 😉

The Path Ahead:

BFCM represents only 10% of the holiday shopping season. With December – and Q5 – upon us, it’s not too late to take advantage of consumer buying trends and meet customers where they are. Leverage the insights gained during BFCM to fine-tune your strategies, ensuring your brand remains top-of-mind throughout the entire holiday season.

Until next time ✌️

Contact us to schedule a free consultation with our digital experts, and take the first step on your journey.