Study: 45% of Advertisers Not Confident in Digital & Offline Media Mix
November 26, 2018 | Contributed by: Joe Morsello
Digital media captures over half of all media time spent, and the other half of the time is mostly spent watching TV. Digital’s increasing share of time spent has mostly been at the expense of other traditional outlets like newspapers, magazines, radio, etc. However, even with such a large share still watching traditional TV, many of these viewers are bouncing between devices, particularly moving to mobile devices during commercials.
Depending on campaign objectives, approaching the media mix from a sheer audience volume perspective isn’t necessarily the best approach. Instead, understanding the nuances of each channel, the various ad types, the best time of day for the channel, the type of audience on the channel, etc., will enable informed media choices.
But given the number of channels available, and the fragmented audiences that use these channels, it is more challenging than ever to identify the optimal media mix. According to Kantar’s “Getting Media Right 2018” study, almost half (45%) of advertisers are not confident in the digital and offline media mix.
On the other hand, advertisers do appear to be getting more confident considering the “not confident” group was down 12-points from the 57% in 2017. Identifying the right media mix is really a matter of understanding audiences and optimizing from that perspective.
The study featured survey data of “senior marketing leaders” representing advertisers, agencies and media companies. Of this group, 73% said the biggest influence on budget allocation was the “preferred channels for our target audience.” Another 73% said “channels that have been successful in the past.”
Yet when it comes down to it, the amount of time spent managing media is split equally between digital and traditional (mostly TV) media. The two account for 85% of all time spent among these marketers with about 15% of the time being allocated to bridging the gap between channels and identifying a more complete customer journey.
Though only spending 15% of the time on it, understanding the complete journey, or customer experience (CX), was considered a “must-have” strategy by 94% of the respondents. Data integration for cross-device, cross-platform performance measurement is important because unlocking insights like this will be far more valuable in informing media mix than looking at performance metrics in siloes.
The challenge becomes accessing the data, with only 7% of marketers saying they have all the data needed to make marketing and advertising decisions. The rest felt they had some of the data or that there were gaps in the data needed. This lack of coherent and connected data sets makes it challenging for marketers to make data-driven media choices.
Marketers are in an important position to help shed light on media choices, but to do so in a more complete, comprehensive way that considers the entire journey. Part of the challenge is becoming more data-savvy. From a position of understanding, it will be much easier to improve advertisers’ confidence in the online and offline media mix.