Drive double-digit growth by measuring marketing right: BCG-Meta Industry Report

10 Dec,2021

By Our Staff

 

Boston Consulting Group (BCG), in collaboration with Meta, has launched a report titled, “Measure To Grow: Drive double-digit growth by measuring marketing right” that brings together an industry consensus on optimal marketing measurement for marketing spends. The study provides a comprehensive view on the best-in-class marketing measurement practices that can unlock exponential business growth for businesses, small and large.

 

For the purpose of this study, BCG and Meta collaborated with leading marketing measurement specialists including Adobe, Analytic Edge, AppsFlyer, Cartesian Consulting, Nielsen, and RainMan Consulting as well as 18 digital-first organizations from India across five key industries (Financial Services, EdTech, E-commerce, Travel, Media/OTT) to present this view.

 

The report findings highlight that there has been a 3x increase in the share of digital marketing spends over the last five years by India Inc. However, despite its significant growth, the measurement practices have not kept pace. As a result, organizations are leaving significant value on the table.

 

Said Shaveen Garg, Managing Director and Partner, BCG: “While the spends on digital marketing have sky rocketed, the true efficiency of the spend is not measured in most Indian companies. Thus, potentially leaving a lot of money on the table. As the customer journeys have become complex and intertwined between online-offline and across channels, the ability to measure business impact of digital marketing has taken a hit.Our study showed that while there were some companies have taken a lead and are getting exceptional returns, vast majority are in early stages. There is no silver-bullet single answer to what to measure and how, but the core principle to follow is to capture incremental impact on true business metrics.”

 

Added Pratham Hegde, Director and Head of Measurement at Facebook India: “Digital is the new mainstream, and in order to unlock growth, there is a growing need for businesses to measure the true impact of marketing on business outcomes. The industry consensus is that there is no single measurement method or metric that will address all measurement requirements. The core recommendation for advertisers is to have an incrementality based approach at the centre of their measurement philosophy.”

 

 

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