Marketers globally continue to struggle to assess their marketing performance due to disconnects in strategies for reaching consumers. A failure to understand cross-channel behaviour and uncertainty around optimising their media investment are the primary reasons.
The findings are according to the Insights Division at Kantar’s latest annual state of marketing study, Getting Media Right, released today.
The result in these disconnects is that many marketers are missing opportunities for growth, with 40% still using ROI measurement approaches that are primarily focused on short term-sales. This, despite an overwhelming majority of respondents, 85%, saying that the most important approach to ROI is a blend of both short and long-term measures.
Now in its fifth year, Getting Media Right examines the current state of marketing in a connected world and is based on input from 468 senior marketers spanning advertiser brands, media companies and agencies globally. 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.
“Marketers should aim for the best of all worlds: they need to create a framework to monitor impact on business AND brand metrics while harmonizing measurement tools and insights to improve performance across all channels. The report is a clear indication that marketers are continuing to struggle with measuring and proving ROI, primarily due to their approach,” said Jane Ostler, Global Head of Media, Insights Division at Kantar.