Nielsen has released its annual marketing report, unveiling a myriad of interesting insights for marketers to consider moving forward in 2023.
CTV is where audiences are but marketers aren’t convinced of their investments
Headlining the findings, is the state of investment in CTV - clearly a pivotal part of the industry's future with Americans alone watching 19 million years worth of streaming content in 2022. Accordingly, 84% of marketers say they now include streaming in their media planning.
However, less than half of those surveyed view their CTV spending as effective, indicating that despite its booming popularity among audiences, investment in CTV ad-spend still needs more robust and unified metrics to prove its usefulness..
Measurable returns will always provide marketers with the guidance they need to make tactical media investment decisions, but cross-media ROI measurement challenges have more than half of global marketers (52%) focused only on reach and frequency metrics.
This lack of dependable measurement data diminishes marketers ability to make fully informed media mix decisions.
Multiple measurement tools hinder confidence in a single view of audience performance
On average, 62% of marketers globally use multiple tools for cross-media measurement and 14% leverage four to five. The report identified a lack of confidence among marketers in their ability to generate a consistent, single view of an audience across multiple devices and platforms.
Neilson points to the widespread use of multiple solutions as a hindrance to this confidence, indicating that marketers should consider streamlining their linear and digital measurement tools.
Budgets boom but ROI is uncertain
Commensurate with other recent research into the topic, despite challenging economic headwinds, investment in ad-spend is growing. Almost seven-in-ten (69%) marketers say that global economic conditions have had an extreme or significant impact on planning for 2023 and yet, 64% expect their annual budgets to increase this year.
Despite this increased spend, just over half (54%) of survey respondents feel confident in their capability to measure return on investment (ROI). This relatively low level of confidence in ROI measurement across digital channels has the potential to leave marketers stranded when trying to identify insights into the productivity of their ad-spend.
This increases the pressure on marketers, who are already finding it challenging to prove their effectiveness in the boardroom.
Overall, this research indicates that for marketers to succeed in 2023, they need to streamline their measurement tools to ensure their increased ad-spend is being used constructively and refine the relationship between reach and target audience by prioritising ROI.
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