Marketers continue to find integrated campaigns challenging
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 Insight Division at Kantar’s latest annual state of marketing study, Getting Media Right.
As a result of this 40% of marketers are using return on investment approaches that are primarily focused on short-term sales. This despite an overwhelming majority, some 85% saying that the most important approach is a blend of 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.
While confidence has grown from last year, less than half of advertisers are sure of their ability to create insights from data. Even within agencies and media, fewer than 20% 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 optimize campaigns, yet marketers are struggling to connect the dots on performance across channels. 78% strongly or somewhat agree that it is difficult to assess how well brands perform across channels.
47% of marketers say they have moved the optimisation process up earlier in their campaigns than they were doing last year, with most now starting in the ideas and strategy phase.
Female marketers are leading the charge on earlier optimisation, with 50% indicating it has moved earlier in the campaign lifecycle (vs. 44% of male marketers)
Advertiser confidence in their media mix has grown slightly from last year, but 45% are still not confident that their organization has the optimal media mix, of which only 13% say they have very integrated media strategies.
Eighty-two percent of marketers believe they have integrated marketing strategies, but their efforts are not translating fully to consumers. Conversely, the recent AdReaction: The Art of Integration (Jan 2018) study found only 58% of consumers see campaigns as being integrated*.
“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.
Kantar is a data, insights and consultancy company.
Nominate Malaysia’s Best Marketers
Do you know a Bold & Brave marketer? Give us their names, because we want to celebrate them.
Held for the first time in Malaysia, the Chief Marketing Officer (CMO) Awards is here to reward the best in the business of marketing.
This award is to identify talent, transparency, tenacity and a take-charge attitude of deserving marketers. An eminent panel of industry leaders will decide on the winners.
There are 30 categories up for grabs at this year’s awards:
- Best Marketer in B2B Marketing
- Best Marketer in SME Marketing
- Best Marketer in Millennial Marketing
- Best Marketer in Data & Technology Marketing
- Rising Marketing Star – Financial Services
- Rising Marketing Star – Telco ….. and more!
All entries across all 30 categories for the inaugural year is FREE.
Send in your nominations before the closing deadline of October 19th.
The 7th Malaysian CMO Conference & Awards
Date: 16th November 2018
Venue: The Grand Ballroom, Sime Darby Convention Centre, KL.
For further details on the awards visit: www.marketingmagazine.com.my/cmo2018/awards