Three marketers walk into a bar. No, it’s not the start of a bad joke, but yet another situation where the conversation inevitably turns toward measuring campaign effectiveness. Or might I use the ever so popular “A” word – Attribution. This is undoubtedly one of the most used and most important ideas of our day. As media strategists and buyers, it’s not only our responsibility to manage the investment allocation of our clients, but also be able to calculate, with accuracy, how that allocation and associated tactics drove specific performance.
Is everyone tracking return on investment (ROI)? The short answer is no. According to a survey of large global marketers, 50% said they are only “somewhat confident” in their ability to identify ROI via data analysis. Another 27% said they are “not very confident.” If the big marketers aren’t confident they have it nailed down, why should the rest of us feel good? And frankly, why is it so difficult?
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