A new study has found that this is harming confidence levels and is likely holding back the channel.
Acxion, an enterprise data and analytics company, and 4INFO, a mobile marketing ad tech business, have collaborated on a joint study for which they have produced the “Master Mobile Measurement to Unleash True Cross-Channel Advertising” report to reveal their findings.
The two firms commissioned the study, which was then conducted by well respected Forrester Consulting.
The research looked into a common perception that exists in the mobile marketing industry, which is that marketers do not have the level of confidence that is necessary to truly launch an effective cross-channel ad program and to then be able to measure and understand the true value of that program in order to justify investing more into similar efforts. The report determined that if measurement and analytics capabilities could be improved, it would make a vast difference in the investments and executions with regards to both mobile and cross-channel campaigns among businesses in the United States.
Firms are keen to enter into more mobile marketing but do not yet have the capability of doing so with confidence.
As smartphones and tablets have become extremely commonplace among consumers, and as those shoppers are increasingly turning to mobile commerce channels in order to research products, read reviews, shop for the best prices, find discounts and special offers, and even make purchases, marketers are finding that despite the fact that they want to reach out to consumers over this channel, they don’t yet have the ability to do so with any confidence. The current standard technology does not yet provide adequate data to convince marketers that mobile ads will be able to offer them adequate return on investment (ROI) to justify spending more on the channel or pursuing it with any greater effort. The report showed that 93 percent of the marketers that participated in the survey stated that they would have been willing to launch a larger number of cross-channel campaigns in 2014 if they’d had the capability of effectively measuring the performance of those combined online, offline, and mobile marketing strategies.
Even though the ads that are used the most are common banner advertisements, sophisticated rich media ads are being used more and are finding success. The report found that even though rich media only makes up 3.2% of impression, these ads drive 26.6% of revenue.