By IR Marketing on May 30, 2014
Marketers have increased the percentage of their ad budgets dedicated to digital year after year. 2014 is no different. It is projected that $132.62 billion will be allocated to online ad spend this year.* That is 7 times what Facebook paid for WhatsApp.
With significant money being invested in online marketing campaigns, marketers are focused on spending wisely and getting the highest Return on Ad Spend across all digital channels. Impact Radius sent out a survey to marketing executives and digital advertisers to understand the top priorities in 2014. What areas of focus will allow marketing teams to maximize revenue and cut out the ad spend excess?
The study reveals executives and marketing teams have four main priorities: Mobile, Personalization, Attribution, and Productivity.
Savvy marketers are looking to mobile to reach the always-on, always-connected consumer and will be leveraging this medium to deliver personalized ads, offers, and experiences. Attribution continues to be a hot topic and key initiative. It has become clear that looking beyond last click is key to understanding conversion triggers and valuable channels. Finally, productivity and collaboration is forever a focus with executives and managers evaluating processes and tools that will break down barriers between teams and departments to save time and money.
Key findings from the survey include:
– Offering the best mobile experiences to customers is very important to marketers. 34% have made it a priority to improve customer interactions on all mobile devices this year.
– 49% of marketers increased their Mobile ad budget in 2014.
– 66% of marketers believe accurate and comprehensive revenue attribution is of high importance
– A majority of marketers have historically relied on last click credit; however, 54% are considering alternative methodologies to better understand the true value contributed by each channel.
– 55% of marketers use 4 or more different platforms to manage their marketing efforts, introducing inefficiencies across departments. For this reason, 42% of marketers have made it a priority to save time and money by finding better tools that support productivity and collaboration.
– Tag Management Solutions (TMS) allow marketing teams to be more agile. 36% of companies have implemented a TMS and an additional 21% are evaluating solutions this year.
– Marketers consider personalization through better targeting a priority in 2014. 46% of marketers increased their Retargeting ad spend this year.
The respondents to the Voice of the Industry survey represented 140 marketing executives, directors, and managers at leading advertiser brands and agencies.
* eMarketer, “Digital Ad Spending Worldwide, by Region, 2011-2017”, Aug. 2013.