Forrester: Deliver Insights To Unlock Performance
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As the number of marketing touch points increases, the need to understand marketing performance across all interactions also increases. However, marketing professionals continue to struggle to measure cross-channel interactions. Misaligned corporate incentives across channel owners further slow the development of strong cross-channel measurement. And marketing impact is further clouded by an assortment of external factors, ranging from weather to competitors’ offers to field execution. These barriers often overwhelm marketers, leaving them with a multitude of partial customer views and incomparable performance metrics that inhibit optimal marketing planning and strategy.
- Firms are present in a growing number of online and offline channels, but they have limited measurement capabilities – Channel proliferation has enabled marketers to reach their customers across various platforms and channels, but performance measurement is lackluster. This disconnect causes a mistrust in metrics, raising suspicion on marketing insights, recommendations, and budget decisions.
- More sophisticated measurement-driven firms are more confident with their insights – Analytically savvy marketers, those adopting attribution and marketing mix methodologies, are overcoming the cross-channel measurement conundrum to improve return on marketing investment (ROMI) calculations and overall confidence in their marketing and media decisions.
- Measurement challenges are present, but they can be overcome. – Several challenges hinder measurement success, including integrating disparate data, explaining conflicting results across methodologies, and securing organization buy-in. To overcome these challenges, marketers must build a robust measurement road map and business case to guide them toward more advanced performance measurement.
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