May 2023 Digital Marketing Performance By The Numbers

It’s May performance roundup time! Here’s the breakdown of how programs performed for our clients.

Do your marketing efforts compare? If your numbers need some help, let’s chat!

The Numbers

May 2023 Paid Channel Share of Budget

  • Google: 40% (up from 31% in Apr)

  • Meta: 29% (down from 46% in Apr)

  • Pinterest: 3% (flat to Apr)

  • Programmatic: 8% (down from 10% in Apr)

  • TikTok: 9% (flat to Apr)

  • YouTube: 2% (flat to Apr)

May 2023 Average ROAS by Paid Channel

  • Google: 5.5 (up from 4.6 in Apr)

  • Meta: 3.9 (up from 3.8 in Apr, but still down from 4.1 in Mar)

  • Pinterest: 7.5 (up from 4.5 in Apr)

  • Programmatic: 8.7 (up from 5.4 in Apr)

  • TikTok: 1.6 (up from 1.4 in Apr)

  • YouTube: 1.0 (flat to April)

May 2023 Average Conversion Rate by Paid Channel

  • Google: 5.95% (up from 5.70% in Apr, but down from from 6.35% in Mar)

  • Meta: 1.63% (up from 1.17% in Apr)

  • Pinterest: 6.26% (up from 6.03% in Apr)

  • Programmatic: 3.65% (up from 3.06% in Apr)

  • TikTok: 1.09% (down from 2.12% in Apr)

  • YouTube: 0.70% (flat MoM)

May 2023 Average SEO Contribution to Total Business

  • Percentage of Total Site Traffic: 43.4% (down from 45.1% in Apr)

  • Percentage of Total Site Revenue: 47.0% (up from 42.6% in Apr)

  • Average Conversion Rate: 1.94% (down from 2.03% in Apr)

May 2023 Average Affiliate Marketing Contribution to Total Business

  • Percentage of Total Site Traffic: 13.6% (flat MoM)

  • Percentage of Total Site Revenue: 13.3% (up from 12.7% in Apr)

  • Average Conversion Rate: 3.07% (up from 2.95% in Apr)

 

The Summary

ROAS picked up the most on Google in May, up 20% compared to April. This was led by Performance Max having really strong performance during the Memorial Day sale period.

While Metas ROAS only grew 2% MoM, the platform is strong at delivering a low CPM. In fact, we averaged $16 CPM for the month. When conversions occurred on Meta, the AOV is 15% higher than the AOV on other paid platforms.

TikTok spend has been shifting more heavily towards ad engagement and away from traffic for our clients as a way to gain more brand exposure and awareness.

PMax, Adv + and generally feed-based machine learning initiatives are continuing to see slow and steady efficiency improvements MoM. We expect this will flatten out as we learn the full spend potential of these programs for our brands.

Machine learning products, Performance Max and Meta Advantage+ Shopping, continue to work well for our clients. Is there an opportunity for your brand to test these channels more heavily?

Overall, we’re aiming to ensure our clients are spending no less than 60% of their budgets on prospecting audiences. In some cases we are turning to audio, CTV, and OTT placements to get more brand amplification.

SEO: Our average position has increased 8% MoM while adding ~2K more organic keywords to the ranks per client. With infinite scroll on Google becoming a reality we are seeing keywords ranking in positions 11-20 have increased CTR (+3%) compared to the same time last year.

Affiliates: We’ve achieved 9% publisher growth MoM. However, getting the new publishers to become active in driving traffic to our clients sites remains a challenge. More personalized touches, promos, content, etc. has been required to get individual publishers to include our clients in their content.


Updates for You

Big things are happening here at Pennock. Did you know we’re offering a grant to any LGBTQIA+ owned e-commerce businesses? If this describes you, you can find more details and apply here.


Want to learn more about how we can help you scale your beauty or lifestyle eCommerce business? Schedule time with Nikki.

AnalyticsNikki Lindgren