Although marketers have a slew of different ways to reach out to their target audiences, new research suggests that they are failing to measure the ROI of their initiatives.
Kantar-Millward Brown recently published the “Getting Media Right 2018” report and discovered that only 17 percent of marketers measure the ROI of all of their marketing activities. About 39 percent said that they measure the ROI of most of their activities.
On the opposite end of the spectrum, nearly 37 percent claimed that they only measure ROI for “some” of their marketing tactics, while 7 percent said they don’t measure ROI at all.
To determine their success, 40 percent of marketers look to short-term sales as an indicator of their effectiveness. Fifty-two percent stated that they use a mix of both short-term sales and long-term brand.
Exhibiting an ROI from Social Media Marketing
When it comes to proving an ROI, there are some digital marketing tactics that are more difficult to gauge than others, according to previous research.
Social media marketing, for instance, remains a pain point for many marketers. Social Media Examiner published its “2018 Social Media Marketing Industry Report,” and statistics showed that 38 percent of respondents were uncertain of whether they could measure the ROI of their social media efforts.
Out of all of the social networks utilized for marketing, 94 percent of marketers stated that they were using Facebook to reach out to their target market. Two-thirds said it was their most important social platform, but only 49 percent said that they felt their Facebook marketing efforts were effective.