Why standardised metrics will have big payoffs for marketers | WARC | The Feed

Why standardised metrics will have big payoffs for marketers

Marketing budgets have been reduced but millions of dollars will still be wasted in 2021 because marketers don't have the required metrics, says Nielsen's Lana Busignani. (This is an excerpt from a longer Opinion piece. Click "View more" to read the full article.)

A lack of standardised measurement metrics across the advertising industry is causing marketers to value their efforts according to different benchmarks – a particular concern for those attempting to scale their efforts across multiple countries and brands. Truly effective outcomes measurement requires normative standards that encompass all critical elements of marketing campaigns such as brands, pricing, promotions and media platforms, delivering a common measurement language that all advertisers and agencies can relate to, regardless of their location or sector.

Marketers that operate in multiple markets will find standardised metrics particularly beneficial as ROI varies greatly around the globe. Our normalised data reveals the global median media ROI is $1.06, but this varies significantly by region – from $0.81 in EMEA to $1.32 in APAC.

Standardised, scalable metrics throughout the world will allow marketers to compare ROI across markets in a meaningful way, to close coverage gaps by leveraging a normalised dataset and to provide better benchmarking, ultimately enabling seamless, unified global marketing strategies.