Almost a quarter of senior marketers in the UK claim that they are “losing sleep” over the reliability of digital marketing metrics amid a general growing paranoia that media measurement currencies are becoming “increasingly corrupted.”
The new Media2020 report published by Media Sense, ISBA and IPSOS Connect found that 70 per cent of marketers are concerned about these currencies due to an unreliable digital ecosystem. The 250 senior employees surveyed said that both Google and Facebook now have too much control over the validity of metrics.
Facebook admitted last year that it had been erroneously calculating the “average duration of video viewed” metric, which meant that numbers could have been overstated by up to 80 per cent, and several other errors have been noted and changed by the big players during the last 12 months.
Sysomos exec Lance Concannon spoke about the importance of using social analytics to deliver targeted content campaigns earlier this week, but the latest study suggests that there is a growing “disquiet” about industry measurements and data, with many believing that certain currencies are no longer fit for purpose. Almost half said that “transparency” is the most pressing factor to be fixed in the media industry.
“There’s paranoia because the media agencies and the big digital players have way too much control,” MediaSense co-founder Andy Pearch said. “It’s going to take a long time to move to an independent source of data verification. What this does show, however, is that marketers are running out of patience with the likes of Facebook and Google to sort out their advertising measurement issues.”
Marketers are now placing a greater focus on metrics such as return on investment and brand sentiment, and Pearch believes that brand building in particular could become the core objective for enterprises in the coming years. This suggests that organic content rather than digital paid ads will be vital to reaching consumers across more traditional channels.
The report follows the recent release of new recommendations by advertising bodies IPA and ISBA about the importance of accountable audience data and a wider call for the media industry to finally provide accurate and valid metrics for advertisers.