Though brand confidence in the use of Big Data is increasing, the majority of marketers lack confidence in their ability to maintain an understanding of consumer behavior and are uncertain that they are using the right media mix in reaching them. Those are the findings from a new study released today by Millward Brown Digital, the world’s leading digital expert in helping clients grow great brands.
Getting Digital Right, the third annual look at the state of marketing in a connected world by Millward Brown Digital, is based on input from more than 300 senior U.S. marketers spanning brands, media companies, and agencies. It shows the industry still has opportunities to integrate approaches across engagements and unlock behaviors on the path to mastering ROI.
Key findings include:
- -Fifty-five percent of marketers aren’t confident in their organization’s understanding of the consumer journey. Knowing when and where to reach consumers is crucial to marketing success and these results indicate there’s much room for improvement in understanding consumer behaviors.
- -Marketers’ confidence that they are using the right media mix increased slightly. While the percentage of marketers who said they were confident that they have the optimal media mix between traditional and digital grew slightly since last year, the percentage of those expressing doubt saw even greater growth.
- -Brands’ confidence in use of Big Data increased since our last study. However, confidence amongst brands is still low, with 41% of confident in their organization’s use of Big Data, compared to 59% of media and 60% of agency respondents.
- -Brands, media and agencies all report that the number one challenge continues to be measuring or proving ROI. They all expect that the biggest increase in spend on research tools will be for sales linkage/ROI studies.
- -Seventy-four percent of marketers would increase spend on digital if there were an increased ability to track ROI. Seventy one percent would increase spend cross-channels and 43% in traditional channels.
“This year’s study shows promising improvement in a few metrics, but highlights that our industry has work to do to maximize opportunities to better understand consumer behaviors and the moments where marketers can best engage,” said Stephen DiMarco, President, Millward Brown Digital.
For more information on Getting Digital Right, including downloading a copy of the study or signing up for the webinar of the results on August 17th, visit www.millwardbrowndigital.com/research-insights/getting-digital-right-2016/.
About Millward Brown Digital
Millward Brown Digital is the world’s leading digital expert in helping clients grow great brands. Millward Brown Digital delivers comprehensive digital solutions to help advertisers, agencies, and publishers increase marketing effectiveness and drive brand growth. Integrated behavioral and attitudinal solutions help marketers identify, understand, and engage consumers, plan and optimize media, and increase total brand performance. Millward Brown Digital operates within Millward Brown North America and is part of Kantar, WPP’s data investment management division.