Advertisers continued to increase their budgets for Facebook Stories ads by 14% in Q1 2019 compared to the previous year, according to the latest Global Facebook Advertising Benchmark Report from Nanigans.
Budgets for Stories click-through rates (CTR) were up 14% year-on-year whilst budgets for cost per 1,000 impressions (CPM) jumped 89% and cost per click (CPC) increased 66%.
Although Stories ads saw sizeable gains in interest, News Feed ads continue to be the dominant ad format for Nanigans customers.
Meanwhile, dynamic ads on Facebook jumped 77% highlighting just how important the format has become for eCommerce companies as they provide higher CTRs of 3.47% than non-dynamic ads (2.08%).
CTRs reached a 15% increase year-on-year largely due to the effectiveness of dynamic ad formats.
During Q1, CTRs for app install objectives were down 2% year-on-year. They also decreased for lead-gen companies due to higher volumes during the holiday season that preceded (-19%). Meanwhile, CTRs for transaction-focused companies increased 8% for the year.
Meanwhile, CPMs were down -10% year-on-year and -18% in Q1. However, this should be viewed in the context of the Q4 2018 holiday season following which a dip in CPMs can be expected.
Total CPC dropped -22% compared to the previous year. However, for lead-generation focused advertisers it increased 2% quarter-on-quarter and 25% year-on-year. This is hardly surprising given that lead-gen companies advertise during Q1 to appeal to people following the holiday season with gym memberships, insurance plans and other service offers.
Nanigans also noted that CTRs during Q1 2019 were highest in the APAC region, followed by the Americas and EMEA. CPC and CPM were higher in EMEA countries during Q1 2019.