Getting a solid grip on whether their ad dollars are working was one of the takeaways from a new Nielsen survey of Chief Marketing Officers. And, traditionally, that’s been one of radio’s biggest challenges, especially in the age of digital, where advertisers see data instantly. Only 23% of marketers in the Nielsen survey were highly confident in measuring traditional media ROI.
And this probably comes as no surprise to our readers: 82% of marketers in the Nielsen study expect to increase their digital spend as a percentage of their total advertising budget in the next year (by an average of 49%). Search and social media were ranked the most important digital channels by over 73% of participants.
And, nearly 80% of marketers plan to increase their investment in analytics or attribution solutions in the next 12 months. In other words, marketers want more insight into the data they see.
And, despite the cry about traditional media’s ROI, proof of digital media’s effectiveness also remains a mystery. Only 26% of marketers surveyed were highly confident in their ability to accurately quantify digital media ROI.
While respondents didn’t — in general — rank traditional media as highly as digital, they made it clear that traditional channels remain critical to brand building and its associated top-of-funnel marketing metrics, including brand awareness, recall, and favorability. However, less than a third of respondents expect an increase in traditional media budgets over the next 12 months.
You can download the full report HERE.