Kantar Millward Brown study depicts an industry still searching for an integrated approach to ROI measurement, with two-thirds saying better measurement would drive increased spend in cross-channel marketing
Marketers define best-in-class marketing as cross-channel and cross-device, yet 81% say that they struggle to assess how well their brands perform across platforms and devices, this according to Kantar Millward Brown’s latest annual industry study released today. In addition, advertisers report a decrease in confidence in their media mix and a lack of confidence in their ability to integrate data to produce actionable insights.
Now in its fourth year, Getting Media Right examines the current state of marketing in a connected world and is based on input from 330 senior marketers around the world spanning brands, media companies, and agencies. It reveals an industry at a crossroads, with an aspiration to move towards integrated cross-channel and cross-device measurement, but still challenged with measurement gaps and inconsistent currencies.
Key findings include:
- Forty percent of marketers believe their media investments should be allocated to cross-channel and cross-device marketing, outpacing any individual channel. Understanding channel synergies is crucial to success.
- Optimization is starting earlier in the campaign lifecycle. More than half of advertisers and agencies reported they are optimizing earlier than they had in prior years, with 58 percent of marketers, in fact, beginning optimization during pre-campaign planning.
- Viewability, ad adjacency/brand safety and targeting are marketers’ top three tactical concerns globally.
- When it comes to measuring the impact of a campaign, integrated and traditional channels prove difficult. While a majority of marketers feel confident in their ability to track digital channels like online and mobile, 54percent have difficulty tracking traditional channels and 50 percent have difficulty tracking cross-channel ROI.
- If marketers had a greater ability to track ROI, more than 75 percent would increase spend in cross-channel and the individual channels that fuel it. Increased transparency would boost investment in cross-channel efforts, as well as individually in mobile, online advertising, TV and other traditional channels.
“Understanding how media channels work, both independently and synergistically, is necessary for effective integrated marketing and growth. It’s incumbent on us as marketers to take the wealth of data available to us and transform it into better, more actionable insights for better, more effective marketing,” said Stephen DiMarco, President, Media and Digital, Kantar Millward Brown.
For more information on Getting Media Right, including downloading a copy of the study or signing up for the webinar of the results on September 21, visit www.millwardbrowndigital.com/research-insights/getting-media-right-2017.
About Kantar Millward Brown
Kantar Millward Brown is a leading global research agency specializing in advertising effectiveness, strategic communication, media and digital, and brand equity research. The company helps clients grow great brands through comprehensive research-based qualitative and quantitative solutions. Kantar Millward Brown operates in more than 55 countries and is part of WPP’s Kantar group, one of the world’s leading data, insights and consultancy companies.