Despite Increased Measurability within Marketing Ecosystem, Marketers Have Little Confidence in Measuring Branding Efforts Compared to Direct Response
NEEDHAM, Mass. – Visual IQ, the leading cross channel marketing attribution software provider, announced the results of a groundbreaking study, “Branding Measurement in Today’s Accountable World: A Tale of Two Marketers,” that explores the various challenges brand marketers face when it comes to quantifying marketing performance. The study, which is based on findings from a survey of brand marketers from national and international organizations with 200 or more employees, concludes that the overwhelming majority (80 percent) of US and UK-based marketers responsible for brand marketing find measuring the impact of their efforts more challenging than measuring the impact of direct response efforts.
“Branding Measurement in Today’s Accountable World: A Tale of Two Marketers”
With the rise of digital marketing and the advent of advanced measurement solutions, it is easier than ever to track traditional, direct response marketing results. CEOs expect measurable ROI and/or ROAS outcomes and marketers deliver. In fact, 84 percent of US respondents are very or extremely confident in measuring direct response efforts.
Brand marketers, on the other hand, are tasked with measuring metrics such as “engagement,” which are much more difficult to quantify. The study supports the fact that brand marketers have little confidence in the key performance indicators (KPIs) they are producing. Additionally, when asked what obstacles they faced when it comes to measuring brand performance, 46 percent of marketers cited they lacked advanced measurement tools and/or methodologies, with another 40 percent citing an inability to calculate a single engagement score metric.
Other key findings of the study include:
- Branding metrics are viewed as imperative to campaign measurement and optimization, yet marketers have little confidence in their organization’s ability to measure them – 77 percent of marketers in the US find measurement very or extremely important to brand marketing efforts, yet 84 percent are less confident about their branding measurement capabilities when compared to direct response efforts
- Measuring impact of individual channels is difficult – 75 percent of US respondents face challenges in isolating and quantifying the impact of individual digital channels on branding metrics
- While TV remains a focus, calculating impact of TV advertising on branding metrics is a challenge – two thirds (66 percent) of marketers in the US struggle to calculate the value of TV campaigns on branding metrics
“After ten years of explaining online to marketing people, I spent the next ten years explaining marketing to online people. Brand recognition and affinity are crucial to the success of any product but measuring it, as this study clearly shows, remains complex and convoluted. With the advent of ever more powerful analytics, the pressure on the branding side of the house is measurably elevated,” said Jim Sterne, Board Chair of the Digital Analytics Association and founder of the eMetrics Summit.
“Because the objective of branding initiatives is not to produce a direct response, such as a conversion, it’s understandable that measurement in this area is more difficult,” said Manu Mathew, co-founder and CEO of Visual IQ. “The findings of this study make it clear there is work that needs to be done to quantify performance as it relates to branding.”
To view the report’s key findings or to learn about its methodology, including detailed findings on the US and UK participants, download “Branding Measurement in Today’s Accountable World: A Tale of Two Marketers” here.
About Visual IQ
Visual IQ produces the world’s most powerful cross channel marketing attribution software products. As a pioneer in the space, the company has been offering products since 2006. Its SaaS-based IQ Intelligence Suite reveals cross channel performance insights hidden deep within companies’ marketing data, providing actionable recommendations and optimized media plans to improve marketing effectiveness. These recommendations enable marketers and agencies to adjust their advertising strategies and tactics to significantly increase marketing ROI across their entire marketing mix – both online and offline. The functionality behind these products combines a powerful, user-friendly interface with multi-dimensional fractional attribution science and predictive analytics that clearly and accurately show marketers where opportunities exist for improvement.
Visual IQ was named a leader in cross channel attribution in 2014 by a leading market research firm, won The Drum’s 2015 Digital Trading Award for Best Attribution Solution, won the 2014 ASPY Award for Best Data or Analytics Solution, and was a finalist in the Digital Analytics Association Excellence Awards in 2013, 2014 and 2015. The company is a member of the IAB in the US, UK, France and Italy and sits on the association’s Advertising Technology, Data, Public Policy and CFO councils, as well as on the Standards Committee of the Digital Analytics Association.
Visual IQ can be reached at [email protected] or by visiting www.visualiq.com.
via BusinessWire
