Less than one in five marketers are very confident in their ability to integrate data for insights.
Failure to understand cross-channel behaviour and uncertainty around optimising media investment are the biggest challenges to assessing marketing performance.
This is the key finding of Kantar’s new annual state of marketing study, Getting Media Right released today based on input from 468 senior marketers globally across advertiser brands, media companies and agencies.
Kantar Australia head of media and digital Mark Henning said many marketers are missing opportunities for growth.
“40 per cent of marketers globally are still using ROI measurement approaches primarily focused on short term-sales; yet only eight per cent believe short-term sales is the most important approach to ROI.
“Focusing only on short-term sales can result in marketers understating the true ROI of their marketing efforts.”
The report also shows that despite the plethora of data we have available to us in the digital world, less than half of advertisers are confident in their ability to create insights from this data.
Even within agencies and media, less than 20 per cent are ‘very confident’, indicating the industry is struggling to manage all the data that is available.
“Creating insights is dependent upon pulling together the right information and tools to monitor and optimise campaigns, yet marketers are struggling to connect the dots on performance across channels,” adds Henning.
- 78 per cent strongly or somewhat agree that it is difficult to assess how well brands perform across channels.
- 47 per cent have moved the optimisation process up earlier in their campaigns than last year, with most now starting in the ideas and strategy phase.
- Female marketers are leading the charge on earlier optimisation – half indicated it has moved earlier in the campaign lifecycle (versus 44 per cent of male marketers)
- Advertiser confidence in their media mix has grown slightly from last year,but 45 per cent are still not confident that their organisation has the optimal media mix
Kantar global head of media, insights division Jane Ostler said: “Marketers should aim for the best of all worlds. They need to create a framework to monitor impact on business AND brand metrics while harmonising measurement tools and insights to improve performance across all channels.
“Getting Media Right is a clear indication that marketers are continuing to struggle with measuring and proving ROI, primarily due to their approach.”
Now in its fifth year, Getting Media Right examines the current state of marketing in a connected world.
It reveals an industry that continues to diversify its media usage and increasingly requires better understanding of how ideas, content and media need to be activated in tandem to create holistic marketing that drives brand growth.
The new 2018 report can be downloaded here.
Freedom Foods and 72andSunny Sydney have launched the first advertising campaign for Australia’s Own range of plant-based beverages. The campaign introduces a new visual world and identity for the brand and captures the healthy, positive feeling you get when spending time in nature and when consuming Australia’s Own certified-organic, plant-based beverages. As well as featuring […]
Nine creatives from APAC are among the 94 finalists from 27 countries in The One Club for Creativity’s prestigious Young Guns 19 competition, celebrating international creative professionals age 30 or younger. The finalists from APAC are: Hiu Ching Kung, graphic designer, Hong Kong Lam Ieong Kun, graphic designer, illustrator, indego design, Macau Raxenne Maniquiz, graphic designer, illustrator, Santa Maria (Philippines) Kiyotaka […]
OOH transit company Adflow has announced the success of the first phase of its regional expansion program. Adflow’s regional footprint has increased by 60 per cent to now include 65 regional locations. With 9.1 million people living regionally in Australia (growth of 1.1 per cent experienced in the 19/20 Financial year) and most regional centres […]
Freshworks, a leading software company, has started trading on the Nasdaq Global Select Market, marking an important milestone for the company. The company priced its IPO at US$36 per share (AU$49.76), raising about US$1 billion (AU$1.4B), resulting in a total market capitalisation of AU$13.7 billion (US$10B). Freshworks, which was founded in India, has strong roots […]
Black Friday Cyber Monday (BFCM) is the biggest player in the holiday shopping game and Google’s most recent research suggests consumer interest for the peak sales season starts much earlier than retailers may realise. The pandemic has fundamentally changed buyer behaviour over peak sales season, with Google suggesting that global consumer interest in Black Friday […]