Millward Brown: "Getting Digital Right 2015"
For many people, smartphones, tablets, internet-enabled TVs, and wearables are already part of everyday life. At the same time, this increases the complexity of digital marketing. The goal is to reach customers with the right message on the right screen at the right time.
In the age of digitalization, marketers are faced with the task of recognizing the potential of new technologies and developing creative, efficient marketing strategies. The digital experts at international marketing and market research company Millward Brown have compiled the key opportunities and challenges of digital marketing in the "Getting Digital Right 2015" study. Over 400 marketing decision-makers from companies and agencies in the USA were surveyed for this purpose.
The four key findings of the study are as follows:
Big data is not the same as smart data: Everyone is talking about big data. And marketing also has high hopes for data analysis in the long term. However, the initial euphoria seems to be over: only 14% of study participants are currently convinced that the available data will be used efficiently. This result is all the more astonishing given that the confidence of the marketing experts surveyed last year was 39%.
Traditional research tools are still in demand: From the point of view of marketing managers, customer surveys (67%) and reach measurements (61%) still provide the most reliable target group-specific data. Nevertheless, the majority (70%) believe that behavioral science findings will become increasingly important for marketing in the next three years.
RoI as the most important key figure: 80% of the marketing experts surveyed would increase their advertising budgets for the mobile and digital channels, and 74% for social media, if the additional expenditure had a positive impact on the return on investment (ROI). For half of those surveyed, ROI is still the most important criterion for the allocation of media budgets. This is why many marketers focus on measuring ROI. And it is precisely in this area that many marketing decision-makers see enormous potential for improvement.
Need to optimize the media mix: Only half of media managers and a quarter of product managers are convinced by their current media mix. However, over 50 percent of marketing managers rate the ability to address specific target groups as a key factor in the allocation of media budgets.
"Marketing decision-makers are currently trying to keep pace with the speed of digitalization in recent years. Ultimately, it's about precisely understanding digital consumers and their decisions, integrating alternative research tools and reorganizing media budgets in order to achieve an improved return on investment," says Dr. Bernd Büchner, Managing Director of Millward Brown in Germany, Austria and Switzerland.
Millward Brown
The global market research company Millward Brown is a global expert in advertising, marketing, communications, media and brand equity research. Through an integrated range of proven qualitative and quantitative market research tools, Millward Brown helps clients build strong brands and services. Millward Brown currently has more than 56 offices. The company is part of the Kantar Group, the global network for research, insights and marketing consulting. Millward Brown is part of the global agency holding WPP Group.
