With all the efficiency, targeting, and personalization digital marketing has brought us, it has also created a dilemma for marketers: How to measure its effectiveness. Even more of a conundrum these days is how to measure the ROI of the marketing mix, according to data shared by Marketing Charts.
Marketing Charts cites a recent study that indicates "of 7 challenges identified, marketers were by far the most likely to say that creating the most efficient results-driven marketing mix across channels was problematic." Marketing Charts goes on to say that even Chief Marketing Officers are finding that "digital channels have proven difficult to measure for ROI, with only a minority feeling confident in their ability to measure various channels, despite increased measurability being a key motivator for switching from traditional to digital channels." It gets worse, because "few CMOs in the US [are] able to quantitatively prove the short or long-term impact of their marketing spending."
Marketing mix ROI seems to be the biggest challenge of the new multi-channel world of marketing.
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