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With so many options, marketers have their hands full when weighing options, budgets, and justifying their decisions. As diverse as the metrics landscape is today, unless marketers start thinking more about their metrics, the challenges will increase as new channels enter the market.
Marketers aren't sure what to measure at the channel level
Marketers have 15 different channels across traditional and digital media. Despite this divide, only 70% of global marketers surveyed for Nielsen's Annual Marketing Report 2023 believe they have the right marketing technology to measure ROI. However, the downside is that their confidence in measuring ROI at the individual channel level is very low, which is in stark contrast to the confidence of full conversion marketing.
The discrepancy between end-to-end trust and trust at the channel level points to a fundamental downside to using channel-specific marketing tools to measure end-to-end marketing effectiveness. It is notoriously difficult to obtain a single metric of reach and frequency across all channels, and insights from global marketers naturally highlight the complexities, especially for the many digital channels in which marketers are investing heavily.
Despite their confidence in their marketers, global marketers are aware of the challenge, with only 54% on average expressing confidence in media measurement capabilities (i.e. mass measurement). Confidence is slightly higher in EMEA and slightly lower in Asia Pacific.
52% of global marketers currently focus solely on reach and frequency metrics when measuring return on investment across media, evaluating issues such as audience quality data and limitations of current marketing techniques.
Multiple tools eliminate process gaps and information silos
To keep up with the increasing media choices, many marketers have reported using a variety of tools and solutions to measure the effectiveness of their campaigns. This is not surprising, but it may complicate how you complete the measurement. The more devices you make, the more data your systems must generate and people must be willing to receive. And when necessary. Add to this the historical variety of linear and numerical measurement techniques, and the importance and difficulty of making repeated nonparametric measurements becomes apparent. On average, 62% of marketers worldwide use multiple media measurement tools. In contrast, only 34% said they use one.
Marketers around the world know how important metrics are to understanding the effectiveness of ad spend. With an increasingly rich media landscape that will continue to deliver new experiences in the coming years, marketers need to consider media-agnostic tools, solutions, and metrics to achieve their long-term business goals. Without a complete view of the audience, marketers will not have a complete picture of campaign performance.
Download Nielsen's 2023 Annual Marketing Report for more information .
NB:
1 Traditional: radio, linear television, print media, direct mail, OOH, cinema. Digital: Email, Search, Social Media, Podcasts, Digital Signage, Digital Video, OTT/CTV, Podcasts, Native Ads.
