Digital Growing … But Proving It’s Worth is Still an Issue

Brands Still Struggle With Developing Meaningful Analytics

Insight  ⇒ Marketers Continue to Spend More in Digital at the Expense of Traditional Media

According to the recently released CMO Survey by Duke University, Digital media spend is constantly increasing.  This fits with data from Nielsen, comScore and others that shows digital usage on a constant rise.  Marketers know they must ‘follow the eyeballs’ to make an impact on their audiences.

cmo digital increase at expense of trad

 Source: The CMO Survey 2014  : Click to Enlarge

Insight  ⇒ Digital Spend Increasing Across the Board for both B2C and B2B

cmo dig increasing all sectors

 Source: The CMO Survey 2014  : Click to Enlarge

Insight  ⇒ Social Media Leading the Digital Growth

smm spend trends

 Source: The CMO Survey 2014  : Click to Enlarge

Insight  ⇒ But Growing Pressure on CMO’s to Prove ROI

pressure to prove roi

Source: The CMO Survey 2014  : Click to Enlarge

Insight  ⇒ So CMO’s Increasingly Spend on Analytics Capabilities

analytics spending

Source: The CMO Survey 2014  : Click to Enlarge

Insight  ⇒ But Quantitative Measurement Still Lags

Measuring Digital media, especially Social Media, remains an issue because the technology is not good enough to this point.  Accurately measuring the influence of the Blogosphere and the increasing number of Social sites is incredibly difficult, as Digital media fragments into thousands of content sharing vehicles.  Mobile, Social, Video, chat, photo sharing, music sharing … thousands of new sites and apps are coming online everyday.

prove social roi

Source: The CMO Survey 2014  : Click to Enlarge

Do This  ⇒ Allocate More Resources to Analytics … Immediately 

  • Brands must add staff and new technology to find better Digital-to-ROI algorithms
  • They need to continuously review and test cross-platform analytics packages,  as they are increasingly more sophisticated and accurate
  • Brands must analyze metrics to a greater degree to find media performance relationships

Not That   Continue to Rely on Subjective Measures as Performance Indicators

  • The days of qualitative impacts are going away … CEO’s want real proof that Digital works

 

Zig is a Social/Mobile consultancy that drives brand engagement by creating interactive user experiences.  We programmatically reach in-market buyers, at the lowest cost, and move them to conversion.  You can see our work by clicking on the link ⇒ http://www.zigmarketing.com.

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