Identity resolution – the ability to identify customers across devices – is essential for marketers measuring the results of their campaigns. However, new research suggests that many of them are still unsure of how to carry this out, and it’s hindering their overall performance.
Forrester recently published the “Is Your Identity Program Built On A House Of Cards?” report, and statistics showed that the majority of respondents (66%) have had an identity resolution strategy in place for at least 12 months. However, 20% have only had one in existence for less than a year, and 14% do not have a strategy at all.
In terms of organizations’ approaches to managing their identity resolution program, 20% stated that they increase their return on marketing spend. About 16% improve privacy safeguards, while 15% reduce marketing waste.
Overall, 53% of respondents stated that they use their customer ID resolution program for customer preference management. Approximately 45% use it for customer profile development, and only 43% utilize it for measuring marketing performance.
Measuring Marketing ROI ‘Too Soon’
When it comes to assessing overall marketing performance, previous research indicates that marketers may be too quick to gauge the ROI of their campaigns.
LinkedIn recently surveyed more than 4,000 digital marketers, and statistics suggested that 70% are measuring ROI, but long before a sales cycle has concluded – the average B2B sales cycle typically takes place over the course of at least six months. According to the results, just 4% of marketers measure ROI over a period of six months or longer.
About 58% of marketers say that they need to be able to prove ROI in order to justify their spending and get approval for more budget.