PROBIZ International - Vol-1 Probiz File final | Page 47

analyze and adapt to
changes in consumer
behavior quickly. The
ability to quantify ROI
and demonstrate real
business results is an
imperative as is the
need for continuous
improvement in
marketing performance.
It justifies the
investment in
advertising, not to
mention the media,
data, technology,
resources and vendors
that support it.
The marketers
surveyed made it clear
that it’s not more
data they are looking
for, rather better
insight. They’re aflush
with dashboards, yet
only a quarter are
highly confident in
ROI measurement,
regardless of media
type or trade spend.
They’re equipped with
marketing technology,
yet less than quarter
are very confident they
have the right solution
in place to accomplish
their goals. Marketers
are adapting by leaning
into measurement and
technology, but as
with any evolutionary
process, there are fits
and starts, wrong turns
and bad outcomes.
The good news is
that many brands have
made it clear that they
are willing to invest and
learn. Eighty percent
expect to increase
their investment in
marketing analytics in
the next 12 months.
Nearly half plan to
increase spending with
their media agencies. A
large number reflected
on how quickly their
thinking around digital
has progressed in
recent years.
Brand advertisers
are increasingly
organizing themselves in
a more channel-agnostic
way with customers
at the center of their
strategy. Four years
ago that was not the
case for over 70% of
companies. Now, nearly
as many marketers
(62%) reported being
organized in a way
that supports an
omnichannel approach
with unified reporting
structures and revenue
goals. This is what is
needed for advertisers
to be able to respond
to changes in consumer
media consumption
and buying behavior.
It’s about meeting
customer
expectations by
consistently delivering
more relevant
experiences.
From an
organizational
perspective, this
means various teams
must work in tandem
to ensure they are
making data and
channel integration
a reality. Marketing
technologists, media
planners, creatives
and data scientists
must be better
aligned. As many of our
respondents attested,
having a more unified,
easy-to-use marketing,
data management and
measurement stack
would be the best case
scenario. An “easy
button” as one our
interviewees attested
that allows the CMO
to understand what’s
happening across their
media investments.
As this report has
demonstrated, many
advertisers and
agencies are doing their
best to adapt to the
changes we are seeing,
but we’re not quite
there yet.
For all the progress
being made, this report
reveals a dichotomy
between companies that
have responded to this
increasingly customer-
first, omnichannel
reality, and those
that have hesitated
due to organizational
roadblocks, “old-
fashioned” CMOs,
institutional knowledge
gaps and technology
limitations. Like with
Darwinian evolution, it’s
a matter of adaptation
and those companies
that evolve the quickest
will thrive.
On the one hand,
what’s needed is a
simpler approach to
marketing technology
that integrates multi-
channel consumer
data and insights in
one place. This helps
brand advertisers
more easily act on
these insights across
consumer end points,
whether traditional or
digital media. On the
other hand, what’s
required is independent
measurement that
utilizes standardized
and comparable data,
regardless of channel.
This provides simplicity
and transparency,
and ensures most
importantly that CMOs
get what they pay for.
August 2018
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