Jun 10, 2024

Market Insights

Google Updates May

From an overview of our May performance metrics, to the exciting developments shaping the landscape of digital advertising, the following snapshot speaks to a month of innovation and growth in the world of Google Ads.

May Google Ads Performance

Performance was consistent MoM, while YoY we observed a 6% uptick in ad spend across PH clients. This slight lift resulted in a 10% increase in clicks, 11% increase in impressions, and a remarkable 20% increase in conversion value.

Performance Max continues to shine in Google Ads, with increases across all key metrics in comparison to Brand Search, General Search and Shopping, which all experienced declines. As an agency, we're increasingly leaning towards Performance Max over Shopping while being mindful to apply appropriate brand exclusions so that the focus remains on acquiring new customers.

YoY we are also seeing the cost of advertising drop, which means cheaper impressions and clicks, and more opportunities for those who are investing  in digital marketing to gain market share.

May Google Platform Updates

Announced at the Google Marketing Live 2024 conference in May, the following updates, innovations and insights should be front of mind for e-commerce businesses in New Zealand and Australia looking to sharpen up their digital marketing strategies in Q3 and Q4.

Personalised Shopping Experiences: Leveraging AI and machine learning, new features enable e-commerce businesses to tailor their offerings more effectively to individual customers, increasing engagement and conversions.

Augmented Reality (AR) Shopping: Set to significantly impact online sales by improving customer confidence and reducing returns, AR shopping experiences allow customers to visualise products in their own space before making a purchase. 

Integrated Shopping Across Platforms: Google has introduced enhancements to facilitate seamless shopping experiences across its platforms, including Search, Maps, and YouTube. We encourage businesses to optimise their presence across these channels to maximise visibility and sales opportunities.

Privacy and Data: Increasingly focused on privacy, Google has emphasised its commitment to user data protection and transparency. All businesses must prioritise compliance with privacy regulations to maintain trust and avoid penalties.

Emerging Trends: Google highlighted emerging trends such as voice commerce and social commerce, signalling opportunities for e-commerce businesses to diversify their sales channels and reach customers in new ways.

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