Marketers and advertisers have no shortage of challenges, but what’s at the top of that list? According to the IAB, measurement and attribution is the top industry challenge.
To help marketers address this major challenge, Acxiom has published a new paper, “A Guide to Omnichannel Campaign Measurement: Best Practices for Navigating Digital and Offline Measurement Challenges.”
It is chockful of digestible content to help you build strong omnichannel measurement capabilities, including:
- Key trends shaping the rapidly evolving measurement landscape
- The challenges of digital and offline measurement, featuring breakdowns for eight different channels
- Six best practices for campaign measurement and a brief introduction to attribution analysis
- Recommendations to transform your organization into a measurement powerhouse
Why is measurement and attribution keeping marketers up at night? I believe it is a confluence of interconnected factors.
Consumers (and brands) go digital
As outlined in the paper, U.S. adults now spend six hours a day with digital media compared to four hours with TV. This shift in consumer media consumption created a tipping point last year — for the first time, U.S. digital ad spend exceeded TV ad spend.
Digital and offline intersect
While ad dollars are piling into digital, conversion still typically occurs offline: 88 percent of U.S. retail sales take place in stores. As marketers grow more sophisticated in using data to target consumers through digital channels, they are discovering the complexities of connecting an offline transaction to related digital touch points (i.e., closed-loop measurement).
Measurement’s role evolves
According to Forrester’s December 2017 report, The Marketing Measurement Action Gap, “measurement has decisively shifted from only measuring past performance to providing a quantitative basis for future investment decisions.” The days of “nobody got fired for buying TV ads” are gone as marketers and advertisers come under increasing pressure to quantify return on ad spend across digital and offline channels. These professionals want to retain and even grow their budgets, but they cannot loosen the purse strings without concrete evidence for their contributions to business success.
With so much in flux, it’s no wonder marketers and advertisers are having a tough time. Download our new paper to better understand the measurement landscape and how to accurately close the loop on your marketing efforts.