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Only a fifth of companies say they are effectively optimising their digital media by taking an integrated approach to search, display and social advertising.
This is a key finding from a new Quarterly Digital Intelligence Briefing published this week by Econsultancy and Adobe which focuses on optimisation of paid-for digital media.
The report, entitled ‘Optimising Paid Media’, has found that just 21% of companies are carrying out ‘effective optimisation’ of media buying across channels, while the majority of marketers (57%) say that optimisation of this kind is only ‘limited’.
Worryingly, the remaining 22% say there is ‘no optimisation’ of media buying.
According to the report, the top three benefits of media optimisation are reduced cost per acquisition, reduced media costs and more sales. The research found that those companies who are able to quantify improvements from media optimisation are seeing, on average, an uplift of 28% in performance.
Other key findings include:
-) More than two thirds of companies (69%) agree that their media mix is driven by business goals, compared to only 7% who disagree.
-) Only 19% of companies agree that they have a ‘single view of campaign performance across search, social and display’, a figure dwarfed by the 56% of companies who disagree with this statement.
-) When asked what feature they would add to their media optimisation technology if they could, over a third (37%) of marketers put ‘better integration with web analytics’ at the top of their wish list, significantly more than for the next most sought after feature which is ‘predictive forecasting’.
Econsultancy’s Research Director, Linus Gregoriadis, said: “There is a lot of talk about earned media these days but paid-for media should never be neglected, given the budgets at stake and the potential return on investment.”
He added: “This research brings home the need to treat digital media planning and buying in an integrated fashion. It is telling that those who are able to quantify improvements from media optimisation are seeing a significant uplift in performance. ”
Mark Phibbs, Vice President of Marketing for EMEA at Adobe, said: “It is clear from this research that many advertisers don’t have the visibility they require across different channels to ensure that they have an optimal media mix. Fortunately, this is a very fixable problem.
"Companies succeeding with media optimization are doing so with an intelligent media buying platform that is tightly integrated with analytics. This gives the marketing team a powerful combination for finding the right media mix to drive business results.”
The report, available to Econsultancy subscribers, is divided into the following sections:
-) Media optimisation driven by business goals still just an aspiration for most
-) Marketers strive to overcome challenges of resourcing and disparate ownership
-) Analytics integration and attribution are key building blocks
-) Understanding the path-to-purchase and customer journey in a mobile world
-) Scale, skill and science: three key requirements for optimisation success
-) How quantification of benefits can help drive budgets
-) Companies still missing out on advantages of real-time bidding
-) Improved proposition for advertisers helps Facebook dominate social budgets
Get this report:
The full report is available for Econsultancy subscribers to download here:
For more information about this report,
Linus Gregoriadis, Research Director, Econsultancy
linus.gregoriadis AT econsultancy.com
+44 (0) 207 269 1450
Econsultancy helps clients achieve digital marketing and ecommerce excellence through access to intelligence and capabilities development resources. These include premium subscriptions, research, training and elearning, consulting and events. Founded in 1999 and with over 200,000 registered users worldwide, Econsultancy is a leading authority in its field. Every day, it enables clients to make better decisions, find the best suppliers, look smart in meetings and accelerate the growth of their organisations through digital.
Published on: 12:02PM on 5th September 2013