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Facebook Ads CPM Benchmarks for Venture Capital & Investment in South Africa

Understand how your CPM compares. Dive into benchmark data by industry, region, and campaign type

CPM (Cost Per Mille) for Venture Capital & Investment in South Africa

October 2024 - October 2025

Insights

Detailed observation of presented data

Key takeaways

  • This analysis looks at cost-per-thousand-impressions (CPM) trends for the Venture Capital & Investment industry in South Africa compared to the global trend; the analysis is based on $3B worth of advertising data from our dataset, which provides strong directional benchmarks.
  • No CPM data points were available for the selected segment (Venture Capital & Investment, South Africa) in the time period provided, so only the global baseline is summarized and a direct comparison cannot be calculated.
  • Globally, CPM averaged about 19.80 over the last 12 months, peaking in November (24.67) and bottoming in January (17.97).
  • Baseline volatility was moderate: average month-to-month absolute change of roughly 1.60 (about 8% of the mean), with the largest swing in Q4 (+21% in November and -16% in December).
  • From the first to the last month in the series, the global CPM declined by about 5%. Q4 showed a clear seasonal spike, consistent with higher holiday-period demand.

Scope and framing

  • Metric: cost-per-thousand-impressions (CPM).
  • Industry: Venture Capital & Investment.
  • Country: South Africa.
  • Selected segment data: not available for the period provided.
  • Baseline: global monthly median CPMs from October 2024 to September 2025.

Global baseline CPM trend

  • Overall average: 19.80.
  • High: 24.67 in November 2024.
  • Low: 17.97 in January 2025.
  • Range: 6.70 between the high and low.
  • First-to-last change: from 20.32 in October 2024 to 19.31 in September 2025, a decrease of about 4.98%.
  • Seasonality:
  • Q4 spike: The October–December average was 21.88, driven by a sharp rise in November (+21% vs. October).
  • Post-holiday reset: December dropped 16% from November, followed by another 13% decline into January.
  • Volatility:
  • Average month-to-month absolute change: ~1.60.
  • Largest moves: +4.35 from October to November; -4.04 from November to December.
  • Mid-year stabilization: April–July clustered tightly in the 18.60–19.74 range, indicating steadier pricing.
  • Notable mid-year shifts:
  • May rose 6% vs. April.
  • August ticked up ~7% vs. July before easing in September.

Comparison to the selected segment (Venture Capital & Investment, South Africa)

  • Data availability: The selected_data series is empty for this timeframe.
  • Relative positioning: With no in-segment data points, it is not possible to determine whether South Africa’s Venture Capital & Investment CPMs were above market, below average, or in line with overall trends.
  • Benchmarking guidance: Use the global baseline summarized above as directional context until local industry data becomes available.

Seasonality and volatility context for marketers

  • The global baseline shows a pronounced Q4 holiday spike, followed by a reset in January and steadier mid-year pricing. Month-to-month changes averaged about 8% of the mean, with the most pronounced movements centered around November–December.

Understanding cost-per-thousand-impressions benchmarks on Facebook Ads in industry Venture Capital & Investment and South Africa helps advertisers make more efficient budget and creative choices.

Understanding the Data

Insights & analysis of Facebook advertising costs

Cost Per Mille (CPM) is the cost advertisers pay for 1,000 impressions of their Facebook ad. In the Venture Capital & Investment industry, Facebook ad costs can be influenced by seasonal trends and market competition. For campaigns targeting South Africa, advertisers should consider local market factors and user behavior. Different campaign objectives lead to varying costs based on how Facebook optimizes for your specific goals. The data shown represents median values across multiple campaigns, and individual results may vary based on ad quality, audience targeting, and campaign optimization.

Why we use median instead of average

We use the median CTR because the underlying distribution of click-through rates is highly skewed, with a small share of campaigns achieving extremely high CTRs. These outliers can inflate a simple average, making it less representative of what most advertisers actually experience. By using the median—which sits at the midpoint of all campaigns—we provide a more rigorous and realistic benchmark that reflects the true underlying data model and helps you set attainable performance expectations.

Key Factors Affecting Facebook Ad Costs

  • Competition within your selected industry and audience demographics
  • Ad quality and relevance score – higher quality ads can lower costs
  • Campaign objective and bid strategy
  • Timing and seasonality – costs often increase during holiday periods
  • Ad placement (News Feed, Instagram, Audience Network, etc.)

Note: This data represents industry median values and benchmarks. Your actual costs may vary based on specific targeting, ad creative quality, and campaign optimization.

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The data behind the benchmarks

All data is sourced from over $3B in Facebook ad spend, collected across thousands of ad accounts that use Superads daily to analyze and improve their campaigns. Every data point is fully anonymized and aggregated—no individual advertiser is ever exposed.

This dataset updates frequently as new ad data flows in. It will only get bigger and better.

South Africa Advertising Landscape

National Holidays

Jan 1New Year's Day
Mar 21Human Rights Day
Apr 18Good Friday
Apr 21Family Day
Apr 27Freedom Day
May 1Workers' Day
Jun 16Youth Day
Aug 9National Women's Day
Sep 24Heritage Day
Dec 16Day of Reconciliation
Dec 25Christmas Day
Dec 26Day of Goodwill

Key Shopping Season

Late November (Black Friday/Cyber Monday), December (Christmas & Day of Goodwill), Mid-year retail (June Youth Day promotions)

Potential Advertising Impact

CPM and CPC might rise during long weekends like Human Rights Day, Freedom Day, and Heritage Day as leisure and travel-related media consumption increases. Retail CPMs may spike in late November–December for holiday shopping. Youth Day and National Women's Day might drive regional campaigns. Weekend extensions across public holidays may benefit weekend campaigns.

What affects CPM rates on Facebook Ads?

CPMs are heavily influenced by competition, seasonality (e.g., Q4 costs more), audience size, and ad quality. Smaller audiences and lower relevance scores often lead to higher CPMs.

Why does my CPM vary so much between campaigns?

Different campaign objectives, bidding strategies, and even time of day can change your CPM. For example, conversion campaigns usually have higher CPMs than traffic ones. Also, broad targeting tends to drive lower CPMs.

What's a competitive CPM for 2025?

In most industries, CPMs range from $5 to $18 depending on the region and objective. Retail and e-comm campaigns often sit at the higher end. Our live data above shows a breakdown by country and industry.

Does audience size or targeting affect CPM more?

Both matter, but audience quality (intent + match with your offer) usually has more impact than pure size. However, extremely tight audiences often lead to expensive CPMs due to limited delivery opportunities.

Should I worry more about CPM or CPC?

Depends on your goal. For awareness, CPM is more relevant. For performance campaigns, CPC and CPA matter more. But all are connected—inefficient CPMs can inflate your entire funnel.

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