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The month of May has come to a close with many new updates in digital advertising that business owners need to be aware of. Here is a summary of some of these updates for your reading pleasure. Check out the latest May 2024 digital marketing news:

Google’s AI Overviews set to feature ads

  • Google launched a new generative AI to US users which provides summaries of queries in the search results.
  • A week after the launch, they revealed that users would soon start seeing Search and Shopping ads above the AI overviews.
  • Advertisers do not need to enable this feature.

Source: Google

TikTok launches AI TikTok Symphony

  • TikTok is set to launch a set of AI advertising tools called TikTok Symphony to help advertisers with scripts and videos for their ads.
  • The advertising suite features an Assistant that finetunes their scripts for campaigns.
  • It also has a tool named Ads Manager Integration which helps brands optimise their existing videos on TikTok.

Source: Microsoft Start

Google introduces shopping ads

  • Google introduces a new ads feature for brands to include short-form videos in their ads.
  • The ads will include AI summary, 3D shoe spins and virtual try-ons to assist the audience with purchase decisions.

Source: Search Engine Land

Google Ads modifies disclosure policy

  • Google Ads updates its disclosure policy for event ticket sales, effective from June 10, 2024.
  • The disclosures would now be revealed in the top 20% of any destination when reached through an ad.
  • It must also be presented in a font equal to or bigger than most of the text on the page.

Source: Google

Google restricts suspended ads account

  • Google will restrict the functionality of suspended advertiser’s accounts, effective June 2024.
  • These limitations will cut across billing options, account settings, appeals and verification, security settings, navigating the account and reading information.

Source: Google

Conversion rates for ads further decline in 2024

  • According to reports by Word Stream, conversion rates for search advertising continue to decline in 2024.
  • The report recorded an average conversion rate of 6.96% in 2024 compared to 7.04% in 2023 and 7.85% in 2022.
  • The industries with the best average CTRs were Arts and Entertainment (13.04%), Sports and Recreation (9.66%), and Real Estate (9.20%).
  • The industries that recorded the lowest average CTRs were Attorneys and Legal Services (5.30%), Home and Home Improvement (5.59%) and Dentists and Dental Services (5.38%).

Source: Word Stream

Google launches Performance Max for Marketplaces

  • Google has launched a new Performance Max for Marketplaces to convert more sales on the platform.
  • The new feature will direct shoppers to the sellers’ product seamlessly and automate ads across Google Ads channels.
  • To unlock this feature, business owners need to connect their account to the marketplace.

Source: Google

Meta launches new AI advertising tools

  • Meta has launched new generative AI to help advertisers automate campaigns.
  • These tools will specifically help with image and text generation for ad campaigns.
  • This update will cut across ads on Facebook and Instagram platforms.

Source: Search Engine Land

Google to automatically pause inactive keywords

  • Google has notified advertisers that it well pause low activity keywords that have received no impressions for over 13 months.
  • This move is to help advertisers focus on keywords that generate conversion.
  • However, advertisers can unpause keywords they believe will drive results

Source: Search Engine Journal

Google introduces six Performance Max updates

  • Google has added six new AI features to Performance Max.
  • These features are Customer Value mode, customer retention goal, detailed demographics, budget pacing insights, account-level IP address exclusions and final URL expansion.
  • They claim that advertisers who are testing these features are recording over 9% conversions with the same Return on Ad Spend.

Source: Search Engine Land

More updates from Google at annual marketing event

  • Google rolled out more new updates for advertisers at the Google Marketing Live 2024 on May 21, 2024.
  • Advertisers can now generate high-quality creative assets with up to five times more speed.
  • They can also create targeted video ads on YouTube, Discover and Gmail.

Source: Search Engine Land

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