We’re getting more advanced in measuring digital, but we’re less confident measuring digital return on investment (ROI) than we were two years ago. That’s the somewhat surprising finding to be found in “The State of Digital Marketing in Australia and New Zealand”, published last week.
The study by international research and training group Econsultancy was conducted in partnership with Marketo, and surveyed nearly 500 client-side and agency marketers in Australia and New Zealand.
Nearly three in five respondents (58%) said that an inability to measure ROI prevents investing more money in digital marketing, a 28% increase since 2013. However, we remain optimistic: 84% expect improvements in measurability this year.
Why should you care?
What’s behind our drop in confidence in measuring digital ROI?
The numbers got us thinking — and we think the answer to that question lies in the increasing use of mobile devices.
Tracking customers across devices, and understanding the differences between smartphone and tablet behaviours, represents a significant challenge.
Consider this: a March 2015 Signal survey found that a third of marketers worldwide are unable to collect and integrate data from mobile with other digital channels. And nearly eight in 10 digital marketers in the US would spend more on mobile if they could track ROI better, according to a recent survey by Millward Brown Digital.
Are you considering attribution models other than last click when calculating the success of your marketing efforts? Do you know what role mobile plays in the customer journey for your business? If you answered “no” to either question, you too would be hesitant to invest in mobile.
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Jeremy is a Partner and Senior Consultant at SureFire. Jeremy has been working in search since 1996, when he joined the Australian search engine, LookSmart. After relocating to San Francisco, he was instrumental in the development of the company’s paid search ad platform. At analytics company Coremetrics (now owned by IBM) he established an in-house search agency managing campaigns for Coremetrics clients such as Macy’s, Bass Pro and Lands End. At Acxiom he managed members of the pioneering SEO firm Marketleap and worked with clients such as Capital One, American General Finance and Kaiser Health. Joining SureFire in 2009, he is the head of Paid Search Advertising and oversees the delivery of AdWords and other PPC campaigns. He also helps clients make sense of their website data.