The waste in advertising is an epidemic that negatively impacts both brands and consumers. Google found more than 56% of ad impressions are never seen by consumers, and Proxima estimates $37 billion of worldwide marketing budgets are being wasted on poor digital performance, and that’s just digital. With global advertising expected to hit $600 billion by 2021, marketers can't afford to ignore data quality and the quality of insights they generate.
Today’s brands use several models to optimize marketing and media planning, including traditional Marketing Mix Modeling and Attribution Models—along with the sophisticated new generation model known as Unified Measurement. Some methods are far more effective at identifying and eliminating advertising waste.
Unified measurement enables marketers to pinpoint impact and customer interactions across print, broadcast and digital ads and digital marketing efforts, all through person-level data. With unified measurement, marketers are able to determine with ease the best mix of product and brand marketing and analyze how branding impacts sales.
This solution puts the consumer at the heart of it all by leveraging higher-quality data that increase the precision and efficiency of targeting and accurately measure how ads at each touchpoint influence the individual shopper. By analyzing at the most granular level, marketers have deeper insights, by leveraging more accurate and specific data. Forrester estimates that unified measurement can help improve the efficiency of marketing budgets by 15 to 20 percent.
Learn more about unified measurement, its advanced capabilities and its benefits in our recent webinar Unified Marketing Measurement as a Competitive Advantage, featuring Forrester Analyst Jim Nail.
Choosing to embrace a unified measurement model to inform future marketing planning is already a step in the right direction. Make the transition with tips from our recent webinar Making the Switch to Unified Marketing Measurement or contact a Marketing Evolution representative for more information.