Here are a few final takeaways from our own CPM data as the year comes to a close.

First, Google stood out for us.

CPMs climbed, no question. But the value showed up where it mattered. High intent traffic kept converting, which made the spend worth it. A lot has been said about AI changing Search. From what we saw, people are still searching when they are ready to buy.

Meta was a good reminder of the basics done right.

Running a true full funnel approach helped us avoid the worst of the November CPM pressure. Prospecting, mid funnel, and retargeting all played their role. The balance mattered more than any single tactic, and it kept campaigns efficient through a noisy month.

Pinterest was the quiet surprise.

It was the only platform where CPMs declined month over month across our client base. It is still a smaller slice of total spend, but the trend caught our attention. Less competition and improving efficiency is always worth watching.

Big picture, this year reinforced one thing for me.

Higher CPMs are not the enemy. Poor alignment between spend and buyer intent is.

As we head into next year, the teams that win will not be chasing the cheapest impressions. They will be intentional about where buyers are in the journey and adjust early instead of reacting late.

Curious to hear from others before we close the books. Did you see similar trends, or did your mix tell a different story?