79pc of marketers would improve mobile allocations with better ROI tracking: report
Marketers are increasingly interested in shifting budget to mobile, more so than for any other channel, but the lack of return-on-investment tracking is hampering their ability to do so, according to a new report from Millward Brown Digital.
In the global research agency?s second annual report on digital marketing, Getting Digital Right 2015, found that 79 percent of marketers would increase media allocation for mobile and digital marketing channels, and 74 percent would increase on social, if ROI tracking for those channels improved. Additionally, 50 percent said that demonstrating ROI is a top criterion for determining media budget allocations, and many feel ROI tracking needs significant of improvement.
?Seventy nine percent of marketers would increase their allocations to mobile - more than any other channel - if ROI tracking were improved; this represents a 25 percent increase from our 2014 study,? said Rachel Eisenberg, senior vice president of client services, marketing and strategy.
?Optimizing the use of mobile - and digital, as a whole - as a part of the overall marketing mix is a top priority for marketers,? she said. ?In fact, marketers agree ?Multiscreen marketing? is the second biggest opportunity in 2015.?
Media budget allocation
The study, based on input from more than 400 marketers, including brands, media companies and agencies, found that mobile is seeing the highest growth in usage compared to other channels, up 4 percent since the company?s 2014 study.
Social has the second highest growth rate at 2 percent.
However, marketers are struggling to the figure out the ideal media allocation, with only 50 percent of agency and media marketers, and only 25 percent of brand marketers expressing confidence in their current media mix.
More than 50 percent of marketers ranked the ability to reach target audiences as a key factor in determining media budget allocation.
Big Data struggles
The report also found that marketers? struggles with how to use Big Data are spreading rather than improving.
Only 14 percent of marketers expressed confidence in their organization?s ability to use the data available to them, a 25-point drop from the 2014 study.
Another key finding was that consumer behavior-based research has a 67 percent penetration among marketers.
Nearly 70 percent of marketers expect their behavioral insights needs to continue to grow over the next three years.
Audience measurement followed, with 61 percent of marketers using that type of research.
The findings suggest that marketers still have a quite a way to go before they are confidently and effectively leveraging digital media.
?Like all marketing channels, mobile should be approached as one tactic within a mix of media that optimizes opportunity to reach target audiences,? Ms. Eisenberg said
?While 67 percent of brand marketers take an integrated approach to creating marketing strategies - up from 59 percent in 2014 - there?s still significant room to further integrate mobile and digital strategies into the overall marketing mix,? she said.
?Consumers move seamlessly between devices, but don?t use them in the same way; understanding how consumers use a particular device to interact with a brand is essential to success.?
Chantal Tode is senior editor on Mobile Marketer, New York