More than four fifths (83 per cent) of UK-based brand marketers find measuring the impact of branding more challenging than measuring the impact of direct response, according to a new survey from Visual IQ.
The study, Branding Measurement in Today’s Accountable World: A Tale of Two Marketers surveyed over 150 brand marketers in organisations with over 200 employees, in the UK and US. It found that despite increased measurability within the marketing ecosystem, marketers have little confidence in measuring branding efforts compared to direct response.
With the rise of digital marketing and the advent of advanced measurement solutions, it is easier than ever to track traditional, direct response marketing results. CEOs expect measurable ROI and/or ROAS outcomes and marketers deliver. In fact, 84 per cent of US respondents are very or extremely confident in measuring direct response efforts.
While it found that 71 per cent of UK marketers believe branding metrics are very or extremely important to campaign measurement and optimisation, only one in five (20 per cent) of the UK marketing community actually rate their own organisation as very good at measuring which combination of digital channels and tactics will produce the greatest lift on branding metrics.
When asked what obstacles they face when it comes to measuring brand performance, more than half (51 per cent) of marketers said they lack advanced measurement tools and/or methodologies, and 37 per cent are unable to calculate a single engagement score metric.
“After ten years of explaining online to marketing professionals, I spent the next ten years explaining marketing to online professionals. Brand recognition and affinity are crucial to the success of any product but measuring it remains complex and convoluted. With the arrival of ever more powerful analytics, the pressure on the branding side of the house is measurably elevated,” said Jim Sterne, Board Chair of the Digital Analytics Association and founder of the eMetrics Summit.
“Because the objective of branding initiatives is not to produce a direct response, such as a conversion, it’s understandable that measurement in this area is more difficult,” said Manu Mathew, co-founder and CEO of Visual IQ. “The findings of this study make it clear there is work that needs to be done to quantify performance as it relates to branding.”