We released a comprehensive report along with IDG Connect analyzing how marketers are measuring marketing effectiveness this May. The report contains results from a survey we conducted of 250 marketing professionals, offering a real-world glimpse into what’s working and what’s not.
We also hosted a webinar with IDG Connect’s Bob Johnson to get additional insight and color into our findings. You can listen to the complete recording here, but here are some of the highlights.
• The evolution of programmatic. Our analysis clearly showed the shift toward programmatic advertising, including increasing interest in media automation and a growing focus on efficiency.
• So. Many. Tools. Marketers are overwhelmed with measurement tactics and KPIs. Each of these offers specific information, but none provide an overall view into cross-channel efficiency.
• Marketers are still struggling to measure performance, period. With all of these tools, half of marketers are reporting on basic metrics. This surprised us, and indicates that measurement in general still has room for tremendous growth within the marketing function.
• Marketing Data is not the issue. Marketers don’t just have adequate amounts of data, they are overwhelmed with it. Quantity isn’t the problem – it’s fragmentation. Single channel measurement, matching offline and online metrics, channel spend allocation, and identifying baseline/brand equity contribution all feed into this challenge.
• Data hygiene can help. The first step to overcoming these challenges is to get control of your data analytics. This includes:
o Identifying tracking goals, objectives, and dimensions
o Stronger data governance around sourcing, granularity, and taxonomy
o Exploring complementary martech systems
• Obstacles to attribution are largely organizational. Marketing attribution can address many of these challenges as well, but marketers perceive significant obstacles to its deployment. These are less grounded in technology, and more in organizational processes to support attribution.
• Attribution means different things to different people. The industry lacks a clear definition of what attribution is and does. We spent a fair amount of time on this in the webinar, with Bob providing some helpful clarity around the different attribution models and how they compare.
• Ease of use is the most important element of an attribution solution. This one did not surprise us. So many attribution tools are so complex as to be almost worthless. Our respondents told us that ease of use and implementation are the top two qualities that they are searching for in a solution. In a nutshell, practitioners and CMOs need to be able to use the thing.
We closed the webinar by taking a deeper dive into the “how” – not just why attribution solves these challenges, but precisely how it adds value. Watch the recording for Bob’s insight into this topic, as well as additional analysis and detail on the highlights covered above.