I found Black Friday 2025 to be a puzzling experience. Although advertising costs went up, impressions decreased. Yet, clicks and engagement didn’t falter, which feels like both a challenge and an opportunity.
Here’s what I’ve gathered from the data so far:
I’ve been analyzing data from over 5,000 e-commerce and 16,000 lead generation advertisers who were active this year and last. While we’re still waiting on final numbers for conversion value and ROAS, the early insights are telling.
The insights:
Visibility Costs Increased Significantly.
It’s clear to me that spending rose by about 17% for both e-commerce and lead generation, even as impressions saw a reduction. Essentially, advertisers like us are paying more to reach a similar audience.

Engagement Metrics Held Strong.
Despite the rise in costs, clicks and CTR improved across various sectors. Lead generation, in particular, enjoyed lower CPCs and an uptick in clicks, showing that people are still actively responding to ads.
Implications for the Future:
Expect High Costs Ahead. Given the heightened competition during Black Friday, I anticipate this trend of higher costs per reach to continue into Q1 2026.
Clicks Are Not the Final Goal. The real challenge now lies in what happens after the click. Returns, conversions, and overall efficiency will be crucial, rather than just focusing on traffic volume.

Enhance Post-Click Strategy. I believe that improving landing pages, offers, checkout processes, and lead follow-up mechanisms will be key in turning clicks into conversions.
Here’s Why This Matters: Black Friday 2025 indicates that while getting attention is still feasible, turning that attention into results demands enhanced strategies post-click. The cost of ignoring these shifts is high – you might spend more while yielding lower returns.
Bottom Line: Staying visible during Black Friday 2025 came with a higher price, but engagement remains robust. The task ahead is not just driving traffic, but converting that traffic efficiently into results.
Dig Deeper: Explore the Black Friday year on year PPC performance snapshot for more insights.
Inspired by this post on Search Engine Land.


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