Google Search ad expenditure is up 17% and CPC is up 19%

Google Search ad expenditure is up 17% and CPC is up 19%

Google Search ad expenditure is up 17% and CPC is up 19%

The rivalry is growing as more marketers spend more money on Google Search advertisements, which drives up the cost of items. There are buttons for sharing content on Facebook, Twitter, email, LinkedIn, and Reddit.

In the last quarter of 2023, US ad expenditure on Google Search advertisements rose 17% year over year. In the meanwhile, cost per click rose to 9% over the same period, but Google click growth stayed stable at 8% year over year.

Tenuity's Q4 2023 Digital Advertising Benchmarks Report is the source of such figures.

Device is important. Additionally, the study discovered that clicks on Google search ads are still mostly generated by mobile devices:

Mobile search advertisements had year-over-year increases in spend of 19%, clicks of 10%, and CPC of 9%.

Search advertisements on desktop and laptop computers have increased in spending by 15%, clicks by 2%, and CPC by 13% year over year.

Tablet search advertisements had a 4% year-over-year rise in spending, a 13% decline in clicks, and a 19% increase in CPC.

An increase in PMX. During the busiest time of year, Q4 2023, 91% of retail marketers using Google's Shopping ad inventory used Performance Max ads in their campaigns. In contrast, 80% of retailers used PMX marketing a year ago. Nevertheless, the uptake of PMX campaigns has hit a plateau in 2023 despite continuous increase.

The ascent of Temu. Teemu was acknowledged by 90% of shops as a leading competitor in the Google Shopping auction during the last week of 2023. This is comparable to Amazon's steady presence throughout the previous 24 months. While Temu was not visible at these auctions until the end of 2022, it became more noticeable in the first part of 2023 and remained so for the remainder of the year.

Concerning Tinuity With more than 1,000 staff members, Tinuity is a sizable independent performance marketing company that oversees $4 billion in digital advertising.

Provide a method report. Performance data from ad campaigns under Tinuity's management is anonymised and used in the Tinuity Digital Ads Benchmark Report. The information is derived from ongoing initiatives using dependable tactics. The numbers show like-for-like subscriber growth and aren't meant to accurately represent advertiser experiences or the success of any one platform.

Why is it that we care? Spending on Google search ads (as well as other ad networks and retail media networks) has increased, indicating that at the conclusion of a difficult 2023, marketers felt more optimistic in paid media.