Skai Releases Q1 2024 Digital Marketing Trends Report: Analysis & Insights

In its Q1 2024 Digital Marketing Quarterly Trends Report, Skai, a top omnichannel advertising platform with a focus on walled garden media, offers in-depth research and interactive infographics on the key trends of the quarter.

1. Stable Growth Amid Seasonal Shifts:
   • Topline growth numbers in retail media, paid search, and paid social remain consistent compared to the previous quarter.
   • Despite a sequential decline due to the end of holiday seasonality, spending exhibits year-over-year growth across all channels.
2. Retail Media’s Resilience:
   • Ad prices in retail media rise by 15% year-over-year, matching a 24% increase in spending.
   • Despite higher CPC, attributed sales revenue sees no change in overall return on ad spend (ROAS), indicating sustained effectiveness.
3. Performance Max Campaigns:
   • Despite consistent adoption rates, spending on Performance Max campaigns triples year-over-year, driving a 6% increase in total search spending.
   • Transition from legacy shopping campaigns leads to fewer impressions and clicks but higher CPC.
4. Paid Social Evolution:
   • Year-over-year CPM increases for the first time since Q1 2022, alongside the lowest impression growth.
   • Spending growth of 17% overall and 8% for Meta reflects stabilization after the transition to Outcome-Driven Ad Experiences.
5. Insights from Chris Costello:
   • Senior Director of Marketing Research at Skai, Chris Costello, emphasizes sustained growth trends across digital channels.
   • Observes slight upticks in paid search spending due to Performance Max transformation and stabilization in Meta’s ad inventory.

Methodology:

• Analysis drawn from a significant advertising spend population across various platforms and vertical industries.
• Data encompasses more than 3,000 advertiser and agency accounts across 40 verticals and 150 countries on the Skai™ platform.
• The methodology ensures robust insights, although not fully representative of the entire market.

The Q1 2024 report from Skai provides insightful information on digital marketing trends. It highlights the importance of Performance Max campaigns, the robustness of retail media, and the changing paid social landscape, giving advertisers and agencies useful information for making strategic decisions.