Every now and then, a ROI study comes out to completely underscore the fact that marketers really donât have a clue which half or three-quarters of their budgets are being absolutely flushed down the toilet.
As reported in the new MediaBuyerPlanner, a new study by the ANA, Forrester and MMA revealed:
· 60% of marketers believe measuring ROI is important, but only 20% feel they do it well.
· 73% of 135 senior-level marketers surveyed, lack confidence in their ability to understand the sales impact of a marketing campaign
Personally, I would find out exactly who the other 40% of respondents - who didnât feel that measuring ROI was important â are, and make sure they were instantly fired or thrown in jail.
- A 2004 study by the ROI Council concluded that ROI analysis prompted nearly half of advertisers and agencies to alter their 2005 media buying plans.
Scarier still is the fact that despite the inept and unconfident points of view demonstrated by the marketing decision makers in this study towards ROI, theyâre still making mission critical decisions based on this limited, incomplete and flawed information.
Hey, I got an idea. Letâs hold the Internet to a ridiculously high, siloed and unrealistic standard, while we continue to plough money into old marketing based on nothing more than faded fumes of the past, a longing to return to the good old days of 3 networks, and of course a guarantee that weâll be wined, dined and 69âed and taken to Cannes, the SuperBowl and other Boondoglish excursions.
We should all be ashamed of ourselves. Grrrr.
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