Almost one quarter of digital marketers don't track spend

Posted: 2017-10-04 01:00:30

Digital marketing agency Greenlight recently carried out a study to gain deeper insight into how marketing budgets are spent and tracked. Of the 200 digital marketers polled, 23% admitted to not tracking campaign spend whatsoever, while just 36% were confident that their campaigns targeted the right audience. So what's going wrong?

Issues understanding audience

Reporting on the study, Small Business acknowledges that there are a number of alarming statistics. Among them are the 18% of industry professionals who did not think their campaigns are reaching their target audience at all; the 10% uncertain which channels are most effective for their campaigns; and the 17% yet to commit their budget to the right platforms.

Wrong channels and audience

A total 35% of respondents cited spending most of their budget on social media campaigns, even though just 23% of consumers said they were happy to be targeted in this way.

Understanding a brand's target demographic is crucial for marketers. Tools like data management platforms now exist which can help marketers paint an accurate picture of their target audience and in turn, form effective, audience-led campaigns.

CEO and co-founder of Greenlight, Andreas Pouros, said it is clear that marketers are struggling to identify their key audience and target them through the most effective channels.

"The best campaigns are led by audience insights and by focusing on this, marketers will then, in turn, be able to prove ROI and demonstrate the impact of their campaigns to the broader business," he said.

Issues measuring and tracking success

As well as audience identification, measuring and tracking spend are crucial when demonstrating the impact of campaigns. Yet, the sector struggles to deal with multiple data sources and tracking offline vs. online spend, with a respective 44% and 35% admitting that they have encountered issues.

Awareness metrics, like site traffic and impressions, and customer acquisition cost are the most common measurement metrics adopted by digital marketers, at 31%. Yet, one vital metric that doesn't feature on the top the priority list is engagement, at 29%.

Pouros concludes: "The reality is marketers can't look at metrics in isolation, as it can lead to a tunnel-view approach to campaigns, which can then restrict the creative element.

"Ultimately, having an end-to-end understanding of your customer interactions is key to success, and will lead to better personalised campaigns as a result of that full, unique customer understanding."

Tracking ROI is a key part of any marketer's role and something that future employers will be looking for. To find out what else they need, talk to Stopgap today.

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