CTR, CPM, and CPC trends across Meta, LinkedIn, and Reddit for B2B brand awareness campaigns — agency-level benchmark data from Refine Labs, Q1 2024 through Q1 2026.
Evan Hughes
Something interesting is happening across the paid media landscape for B2B brands running brand awareness objectives. Over the past eight quarters, we've been tracking CPM, CPC, and CTR across Meta, LinkedIn, and Reddit and the story the data tells is more nuanced than the platform reps will share with you in a QBR.
This post breaks down what we're seeing at the agency level at Refine Labs, why it matters for how you think about awareness investment, and what the Q1 2026 numbers suggest about where we're headed.
Let's start with CTR - the metric that often gets dismissed as a vanity number but actually tells you a lot about audience-creative alignment at scale. Across all three platforms, CTR for awareness campaigns has been remarkably stable over the past year, though the trajectory getting here is telling.
Meta's CTR sits at 0.20% in Q1 2026 - effectively flat year-over-year but down from a mid-2025 peak. LinkedIn holds at 0.38%, nearly double Meta's rate and that gap is intentional. LinkedIn's more expensive inventory self-selects for professional intent. Reddit comes in at 0.30% for awareness campaigns, despite the platform's reputation for scroll-resistant, ad-skeptical audiences.
Here's our take: if you're optimizing awareness campaigns for CTR, you're solving the wrong problem. Awareness media is about frequency with the right audience, not inducing immediate clicks. A 0.20–0.38% CTR range for brand awareness is healthy - it means you're reaching people who aren't necessarily in active buying mode but are encountering your brand message repeatedly.
The danger signal we watch is CTR collapse - when it falls below 0.10% on Meta, it typically indicates creative fatigue or audience exhaustion. The QoQ comparisons are as much about creative refresh cadence as platform dynamics.
This is where the data gets genuinely interesting — and frankly, where most B2B brands should be paying close attention. CPM trends reveal what platforms are actually charging you to reach an audience, and the divergence across these three platforms is striking.
Meta at $4.19 CPM with a −4.8% YoY decline continues to offer the most cost-efficient reach for awareness in the market. For B2B brands with broader TAMs or consumer-crossover audiences, this is hard to argue with. The Q4 seasonality spikes we've seen in prior quarters followed by price corrections confirm this is structural efficiency, not noise.
LinkedIn's CPM dropped 13.7% year-over-year to $42.29. That's a meaningful directional move. The LinkedIn premium has historically been justified by audience quality — you're reaching actual decision-makers, not demographic lookalikes. But as LinkedIn's inventory has expanded (particularly Thought Leader Ads and Document Ads), supply has increased faster than B2B ad demand, creating real price relief.
This is a window. LinkedIn at sub-$45 CPM for true professional audience targeting is not a given. Brands that lock in awareness investment now, while pricing is favorable and competition is lower, will benefit from the brand memory effects when those buyers eventually enter a purchase cycle.
Reddit's CPM jumped +36.8% YoY to $9.33. Reddit is getting more expensive, fast. This reflects growing platform investment from B2B and DTC brands as Reddit's audience verification and contextual targeting have improved significantly. For highly specific technical or niche professional audiences, Reddit can still deliver strong CPM-to-reach ratios — but the broad reach math has changed materially since 2024.
Cost-per-click on awareness campaigns is a secondary metric, but it's a useful calibration tool. It tells you the blended cost of the rare moments when your awareness ad drives enough interest that someone actually clicks through to learn more.
The CPC story mirrors and amplifies the CPM trends. Meta and LinkedIn are both showing significant CPC declines year-over-year — −22.6% and −21.8% respectively — which is a compounding tailwind for brands investing in these platforms for awareness right now. Meta drops to $2.06 CPC. LinkedIn drops to $11.24.
Reddit's CPC spike of +67.3% YoY to $3.11 is more significant than it might appear. When rising CPMs compound with declining CTRs, you get amplified CPC increases. This math matters when you're evaluating Reddit's role in an awareness mix — it's increasingly a precision instrument for specific community contexts, not a broad reach play.
One reminder worth repeating: don't optimize your awareness campaigns for CPC. When brands do this, they effectively convert awareness campaigns into consideration campaigns — attracting the 0.5% of people immediately ready to act, at the cost of the 99.5% who needed to see your brand repeatedly before they were ready. Awareness investment is about building the baseline, not harvesting it.
Here's the consolidated YoY view that matters most for planning - stripping out the noise of quarter-to-quarter seasonality and showing the directional signals across every metric and platform.
LinkedIn CPM compression creates a rare window. A −13.7% YoY drop is not noise -it's an opportunity. B2B brands with a genuine enterprise or mid-market ICP should be leaning into LinkedIn awareness now. The buyers you're reaching today at depressed CPMs are the same people who will be searching your category in 12–18 months. The brands consistently visible through awareness campaigns are the ones who show up as safe choices when those buyers are finally in-market.
Meta remains the most efficient reach engine, full stop. $4.19 CPM with stable CTR means Meta is delivering consistent awareness reach at lower cost than ever. The concern we hear - "but my buyers aren't on Meta for work" - misunderstands how brand memory works. Your buyers are humans. They use Meta personally. Frequency and message quality drive recall regardless of context.
Reddit is becoming a precision tool, not a reach strategy. With CPMs up 36.8% and CTR declining, the Reddit efficiency story has changed. If you were allocating Reddit budget based on 2024 benchmarks, that math no longer holds. Reddit still earns its place for brands with specific technical communities or niche professional segments — but it's amplification, not scale.
Don't optimize awareness campaigns for CPC. Brands running awareness but optimizing for click volume are turning them into consideration campaigns. The result: you attract the 0.5% of people immediately ready to act, at the cost of the 99.5% who needed repeated exposure. Awareness investment is about building the baseline, not harvesting it.
The headline from Q1 2026's awareness benchmarks is encouraging for brands willing to play the long game. Meta and LinkedIn are getting more efficient. CPCs are declining meaningfully. The cost to build consistent brand presence is, in two of three major channels, lower today than it was a year ago.
Refine Labs is a B2B demand generation agency that has helped over 300 B2B companies accelerate revenue growth and improve marketing ROI. Learn more at www.refinelabs.com. Connect with us on LinkedIn and YouTube. Listen to our Podcast with weekly episodes Stacking Growth.
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