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Diagnose Cross Campaign CTR Drop

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Your question is Diagnose Cross Campaign CTR Drop. Take a moment with it on the right.

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Problem

Scenario

You are reviewing performance across several digital advertising campaigns and notice that click-through rate dropped 15% week over week, from 1.20% to 1.02%, across multiple active campaigns in StackAdapt. Spend, impression volume, and campaign count are roughly flat, and the decline appears across more than one advertiser and inventory source. There were recent creative refreshes and budget adjustments, but no obvious single campaign failure.

Question

If you notice a sudden 15% drop in click-through rate (CTR) across multiple campaigns, what steps would you take to investigate the root cause?