Marketers are significantly more confident in their ability to accurately measure return on investment, up to 84% from 69% in 2023, according to a new study by Nielsen.
However, marketers are underutilising technology to gain a holistic view of their efforts, with only 38% of marketers evaluating traditional and digital media together.
Failing to look at the bigger picture could contribute to misattribution and an underestimation of the impact of a brand’s marketing efforts, the report said.
“Digital media represents the future of how audiences will engage with content. However, many of these channels are walled gardens.
“Without interoperable solutions that work within these spaces, you’ll never get the complete picture of performance,” it said.
Three possible reasons for this include varied definitions of “full-funnel measurement,” insufficient knowledge in martech, and a lack of resources to evaluate the data.
Despite the overall confidence in measuring ROI, the report saw a decrease when drilling down into the confidence in each channel.
“Less than half (49%) of global marketers we surveyed said they are very confident in their social media ROI measurement,” it said.
The global study surveyed 1,514 marketers across a variety of industries at a managerial level, working with annual budgets of $1mn or higher.