56% CPM Increase Across Both Search & PMax Campaigns – Help!

molanaser

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Aug 20, 2024
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I’ve been running Search & Performance Max campaigns, and the results have been very stable for over two years.
But recently, from 24–30 July, my account’s CPA increased by 63.3%. I also noticed that my account-wide CPM increased by 72.89%, which made serving ads significantly more expensive.

For Performance Max campaigns:
CPM increased by 63%
CPA increased by 74%

What I find even stranger is that for Search campaigns:
CPM actually decreased by 17%
But CPA still increased by 48%

I understand that many factors can contribute to a higher CPA, but this is the first time I’ve seen such a dramatic increase in CPM, especially considering that I made no changes to the account during this period.

Has anyone experienced something similar? I’d really appreciate hearing your thoughts or insights.
 
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