The Elusive ROI in New Marketing Platforms
We’re using them, but we can’t quantify them – those marketing channels we have embraced with exuberance, time, and money. It seems to be an recurring theme in many marketing surveys and studies these days. And, here’s another one.
The ANA (Association of National Advertisers) released results of its 2012 Digital and Social Media Survey.
“While more than 70% of marketers are using new media platforms, 62% are increasingly concerned with the inability to prove ROI across these channels.”
Use of online video (e.g., YouTube) increased from 64% last year to 80% in 2012, and since 2007, overall usage of social media and mobile marketing has grown significantly, with 90% and 74% of marketers using them, respectively.”
But, there’s still a nagging concern about determining the return on investment for these channels and how to balance traditional and digital marketing tactics. The president/CEO of the ANA, Bob Liodice, said it well: “Platforms offering the most tangible ROI will be favored by marketers moving forward. It is imperative for the industry to standardize measurement practices for digital, social and mobile markets.”
Should we have standardized methods for calculating the ROI on our marketing efforts? Currently, there’s a plethora of companies with their own proprietary methodologies. What do you think?