The cost of digital marketing is increasing, according to this article from Axios:
Digital ad prices are soaring, forcing businesses to rethink their entire marketing strategies.
Why it matters: At the same time digital ads are getting more expensive, they’re also getting harder to target, creating big barriers to entry for startup digital-native brands trying to find their first customers.
By the numbers: The cost to advertise on Facebook is 33% higher than it was in Q3 2019 (before the pandemic), as measured by CPM, or cost per thousand impressions.
- Instagram CPM is up 23% over the same period, and Google’s cost per click (CPC) is also up 23%, according to proprietary data provided by performance marketing firm Tinuiti.