Although 2022’s economic challenges stifled the typical spike marketers have come to expect, Insider Intelligence estimates social ad spend will pick back up this year, bringing with it the holiday bidding wars.
These ad auction price increases are often attributed to one or more of the following:
- Holiday shoppers starting their research
- B2C brands ramping up spend
- Industry-wide competition to reach customers
Consumer brands respond accordingly by ramping up their media spend. Major shopping events like Black Friday and Christmas, make Q4 a key season for consumer acquisition teams, who in turn set aside large advertising budgets to bid aggressively for more impressions.
Ad auctions consequently experience bidding spikes, forcing other marketers to raise their bids as well. Even for non-B2C brands, holiday season ad auction prices force advertisers to choose to pay a premium or risk losing out on this audience altogether.
Looking for lower end-of-year CPMs for your marketing mix? Quora could be your answer.
CPMs remain stable on Quora during the holiday season
Even as prices dropped industry-wide during the 2022 holiday season, CPMs on Quora remained lower than other major social platforms, giving advertisers more predictable CPMs to bid against.
Quora vs. average CPM for US social media ads in 2022
Why is this? People turn to Quora as a source of knowledge and insight. While price hikes and fluctuations are common on other channels, Quora is a unique outlier. Quora users are knowledge seekers. Whether it’s shopping hacks, or specific product comparisons, they are prepared to consume long-form content.
This is a different mindset compared to when users scroll through visual content. Predominantly visual platforms such as Instagram can showcase different facets of a product through carousels, lending to more spontaneous clicks once a viewer’s interest is piqued. While plentiful, these clicks don’t always have purchase intent, so costs and ad auctions can snowball. Alternatively, Quora’s lower CPMs reflect our focus on matching advertisers with audiences that are genuinely interested in learning more about their products, services, and causes. The Quora Ads auction’s measured approach represents an alternative to the amount-over-quality model that can prevail elsewhere.
We expect to see similar trends this year, presenting an opportunity for brands to reach engaged audiences without having to dramatically increase budgets. Overall, Quora Ads help brands looking to build authentic connections and drive business impact—at reasonable rates.
CPCs remain low on Quora
PPC marketers rejoice! Like our CPMs, CPCs on Quora remain stable throughout the holiday season and into Q1 too, offering untapped potential for new year’s campaigns.
CPCs stay low on Quora compared to other platforms
Why Quora makes sense for your holiday marketing mix
Quora’s audience, in comparison to other platforms, shows high intent. Ads can appear in contextually relevant locations, effectively becoming the “answers” users seek. Tailored ads, such as authentic Promoted Answers, contribute to more meaningful clicks and lower chances of price surges. This makes Quora perfect for products that require more research—during the holidays and beyond.
So while you’re locking in holiday budgets, now is the perfect time for your team to try Quora Ads without worrying about astronomical or fluctuating costs.