Some marketing channels are more easily measured than others, but that may not be a strong factor in media mix decisions, according to the latest annual Getting Media Right report [download page] from Kantar Millward Brown. In fact, relatively few respondents to the study said that channels that can be easily measured and/or demonstrate ROI are an important influencer of their media budget allocations. And compared to last year’s report, far fewer seem to be factoring measurability into their decisions.
Instead, the advertisers, agencies and media companies surveyed for the report pointed to two main factors that most influence media budget allocations:
- Channels that have been successful in the past, based on research (73%); and
- Preferred channels for the target audience, based on research (also 73%).
It makes sense, obviously, to chase target audiences in their preferred locations. This explains in part the increasing move to digital media, which is projected to overtake traditional media in US ad spending for the first time this year.
Some 62% of respondents also said that they prioritize channels where their target consumers are most receptive to content from brands. This is an important point that goes outside of simple consumption habits: just matching up ad spend with media consumption behavior assumes that people will be equally receptive to advertising and content across disparate channels. And as MarketingCharts’ own Purchase Influencers report demonstrates, that’s not necessarily the case.
Meanwhile, only one-third of respondents to the Kantar Millward Brown study said that new marketing channels or marketing industry innovations and trends are an important factor for them when determining how to allocate media budgets. However the report does point out that younger marketers might be more attracted to shiny new things: 40% of Gen Y respondents factor new channels and innovations into their decisions, compared to 29% of Gen Xers and 27% of Boomers.
The full study is available for download here.
About the Data: The results are based on a global survey of 468 senior marketing leaders at advertisers (166), agencies (216) and media companies (86). About one-third (155) belong to Gen Y.