According to the McKinsey Quarterly, “the rapid growth of online advertising hides a serious challenge: the digital world has developed faster than the tools needed to measure it. This problem has made it difficult for marketers to fully exploit the web’s promise as the most targeted and measurable medium in the history of marketing…Hobbled by nascent technologies, inconsistent metrics and a reliance on outdated media models, marketers are failing to tap the digital world’s full power.” The journal went on to state that “unless this problem is addressed, the inability to make accurate measurements of digital advertising’s effectiveness across channels and consumer touchpoints will continue to promote the misallocation of media budgets and to impede the industry’s growth.”
The CMO Council and Vizu, a Nielsen company, are collaborating on a thought leadership white paper to address the fragmented digital landscape and create new content based on insights and best practices from innovators and leaders in global digital campaign design, development, localization, execution and performance measurement. The white paper will focus on showcasing the growth, challenges and opportunities the digital media channel offers leading CMOs around customer acquisition and engagement. The goal of this initiative is to highlight the challenges digital presents, as well as best practices among marketers to provide insight into ways to maximize the impact and reap the full benefits of digital marketing efforts.