Quarter of digital marketers aren’t tracking spend
More money than ever is being allocated to digital marketing budgets, as companies and brands try to launch social media campaigns, publish videos and create content.
But according to research by digital agency Greenlight, only 36% of digital marketers are confident that they are targeting the right audience with their campaigns.
The agency surveyed over 200 digital marketers from across the UK and found that 23% were not tracking their campaign spend at all.
“It is clear that many in the industry are still struggling. This is down to some digital marketers not being able to identify their key audience and ensuring they take the next steps to target them through the right channels with the right messaging,” Andreas Pouros, CEO and Co-founder of Greenlight said.
Of the marketing professionals surveyed, 36% didn’t have confidence in their campaign tracking. 18% didn’t think that they were reaching their intended audience. In a world of multiple-channels and consumers willing to hop between them, it can be difficult to know where to focus your energy and money. 10% of respondents admitted to not knowing which channel is most suited to their goals.
“It may seem daunting but digital marketers should make the most of the data they have to hand, and aim to dig a little deeper so their brand gets seen in the right places by the right people,” said Pouros. “The best campaigns are led by audience insights and by focusing on this, marketers will then, in turn, be able to prove ROI and demonstrate the impact of their campaigns to the broader business.”
Multiple channels and measurements
There is no magic bullet in digital marketing. What works for one brand may not work for another. As close to an immutable law, however, is that social media is an important part of any strategy.
Accordingly, 35% of the marketers surveyed spending the majority of their budget on social media campaigns. The other often-repeated mantra of digital marketing is that content is king, and 21% dedicate most of their budget to content marketing.
However, Greenlight also conducted a parallel survey of 1,000 consumers that seems to indicate that this money could be better spent. Only 23% of consumers reported having a preference for being targeted on social, and only 3% said they liked being targeted through blogs.
Measuring success also seems to be causing the survey respondents. 44% struggle with around the challenges of having multiple data sources and 35% have problems with tracking online vs. offline spend.
The most common metrics used are site traffic, impressions and customer acquisition cost, which are used by 31% of those surveyed. 29% also track engagement.
“The reality is marketers can’t look at metrics in isolation, as it can lead to a tunnel-view approach to campaigns, which can then restrict the creative element,” Andreas Pouros continues.
“Ultimately, having an end-to-end understanding of your customer interactions is key to success, and will lead to better personalised campaigns as a result of that full, unique customer understanding.”
- » Using emojis for business communications and boosting customer engagement: A guide
- » Instagram confirms it is hiding likes in the US: The agency and analyst perspective
- » Why voice search is where the puck is going for digital
- » Look to the cloud as the silver lining for CX and fast fashion’s global growth
- » For cybersecurity marketers, a sense of clarity is desperately needed