Measure To Grow: Drive double-digit growth by measuring marketing right
This report brings forth an industry consensus on unlocking exponential growth through optimal marketing measurement. Key stakeholders from the measurement ecosystem, which includes industry advisors - BCG & Meta, and six measurement specialists - Adobe, Analytic Edge, AppsFlyer, Cartesian Consulting, Nielsen and RainMan Consulting; have collaborated to present this view.
Digital is the fastest-growing marketing channel in India, and already accounts for nearly 70% of total marketing spends for digital-first organizations. In fact, the share of digital in total marketing budget has gone from 12% to 34% in less than five years, and digital spends are expected to overtake TV shortly. Marketing measurement capabilities and approach, however, have not kept pace; and as a result, organizations are leaving significant value on the table – only 5% of organizations have quality data that can enable key business decisions and 70%+ are still underinvesting in measurement capabilities. In contrast, organizations that focus on strategic measurement have seen up to 60% sales uplift, 10x higher ROAS and 25% gross margin impact. Moreover, there is limited consensus on the best approach to measure the impact of marketing investments on business outcomes.
This is a first of its kind report, which brings together the key stakeholders from across the measurement ecosystem; including perspectives from ~20 leading Indian digital advertisers and digital-first organizations, six performance marketing measurement specialists, a leading global digital publisher and learnings from global and Indian measurement best practices.
The report also covers the findings from the measurement maturity survey conducted in India, and insights from leading digital first organizations across five key industries – FS, Media/OTT, Edtech, Ecomm and Travel. Through this survey, it was identified that measurement in India is largely at a nascent stage, and that most organizations are still in the early stages of the journey. There do exist certain pockets of measurement excellence across industries, and the report covers learnings from these organizations and the business impact they have seen.
Finally, the report provides a five step guide for organizations to accelerate their measurement journey to unlock growth. It is key to build the right tech, data and org capabilities, while ensuring adoption of the industry recommendations detailed in this report.