Why ad spend will follow measurement in 2023
Marketing budgets and spend allocation are constantly scrutinised. As marketers deal with the effects of rapid inflation and economic uncertainty in 2023, Wrappr’s Liam Shaw outlines why budgets will be coming under more scrutiny and the campaigns that can’t be measured will likely be the first to go.
Measurement. We all know it’s needed, but it’s often challenging to accurately measure a campaign and its success. Even harder still is to measure advertising across channels, especially one-to-many traditional media like radio, print, linear TV and OOH. Even across digital channels, the proliferation of new platforms and devices has made cross-channel measurement a shared pain point for many marketers. The demise of cookies combined with the fragmentation of data has also made measurement, optimisation, and reallocation a significant challenge.
In fact, less than 20% of marketers revealed that they feel confident in their ability to measure ROI in a recent Nielsen survey. Therefore, in order to future-proof their business in 2023, brands of all sizes and industries will need to build confidence in their existing martech capabilities.
Liam Shaw – co-CEO Wrappr – advocate OOH.
