SME’s 2021 Annual Marketing Report by Nielsen analyses marketing spends, new strategies, and challenges faced by marketers this year.
With marketers reporting customer acquisition and brand awareness as their top priorities for 2021, spending on “mass reach” channels has also concurrently increased, compared to 2020. While mass reach marketing campaigns can be tracked using modern martech solutions, only 16.7% of marketers are confident in their existing martech.
Many marketers said they were least confident when it comes to measuring awareness, full-funnel ROI, and multi-touch attribution (MTA). The lack of confidence in full-funnel ROI isn't surprising, as traditional solutions don't account for upper- and lower-funnel marketing activities in the same solution, contends the author. Adopting the “pillars” of trust, comparability, and adaptability can help measure the ROI in mass media campaigns.
Marketers should compare relative data across channels, including walled gardens, and focus on “what could be achieved”. Combining adaptability and comparability with near-term sales and brand awareness, evaluating media mix modelling, and attributing first and the last point in the consumer journey is recommended to track full-funnel ROI.
[3 minute read]