A diverse content approach is valued by most marketers, but the majority of professionals aren’t sure they’ve found the ideal proportions for deploying that mixed media. Only 25 percent of brand marketers feel their various campaigns are balanced proportionately to their value, according to a study from Millward Brown Digital.
Optimism regarding this balance can vary widely based on the channels involved. Millward Brown notes that while website and content development strategy received the greatest vote of confidence, with 18 percent of marketers surveyed reporting optimal allocation of time and resources, other key digital channels lagged behind.
Only 13 percent of marketers deemed their social campaigns best in class, while search followed at 12 percent. Email marketing, even considering its long history and strong data analytics, was considered best in class by only seven percent of those surveyed.
But perhaps the most concerning statistic is the direction industry confidence is headed. After 39 percent of brand marketers reported being confident in their organizations’ use of data in 2014, only 14 percent agreed with those sentiments this year. That’s a huge downgrade in performance, and it comes at a time when increased data and analytics, marketing software, and evolving organizations should have the numbers trending in the opposite direction.
As the report states, “2014 brought an influx of data to marketers, but without an instruction manual on how to use it to generate value. 2015 will be the year marketers move [toward] making Big Data actionable and insightful.”
Applying data is one challenge. Finding the right balance is another. As the available mixed media solutions grow, many marketers are finding themselves unsure of how to balance their allocation of time and resources. A recent poll from STRATA revealed as much: Nearly 28 percent of agencies cited media mix as their top challenge in 2015, more than any other challenge.
Advertising costs were cited by only 16.5 percent, suggesting that money isn’t the issue—rather, businesses don’t know the ideal proportions of their mixed media campaigns.
The solution might reside in how those organizations use data. Optimal marketing strategies, and the right allocation of time, money and resources, depends on understanding the value and ROI of individual campaigns. Analytics applied to data is how those organizations can uncover the true value of these strategies, thereby offering insight into how media allocation should be handled.
Digital marketing campaigns can’t be run efficiently without good feedback from data analytics. Until a viable solution is installed, organizations shouldn’t expect any different results.
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