Nielsen’s Lana Busignani on Navigating the Age of Dissonance

The Annual Marketing study sheds light on a confusing and somewhat perilous time in advertising marketing and media amp8220We talk generally about the rapid pace of change but we are really talking about how the world will change and where it will goamp8221 said Lana Busignani executive vice president global analytics at Nielsen She added that it is important to fully understand how marketers are responding to these changes and modifying longestablished guidelines and best practices to better engage with consumers amp8220Marketers are faced with a proliferation of options and channels as well as how to best engage consumersamp8221 she addedBusignani explained that the purpose of the Annual Marketing study is to learn what is actually happening on the daytoday level among marketers and advertisers for example what impacts their ability to measure outcomes and how theyamp8217re adapting and leaning into change She knows firsthand how vital these actions are to marketers Busignani is charged with working with them to help measure how well their marketing efforts are delivering ROIThe study asked how more than 350 marketers across the globe perceive the effectiveness of using specific channels and the resulting actions whether or not ROI measurement is clear how they feel about specific channels and whether the changes theyamp8217re seeing are also changing their role as marketers Busignani explained Additionally the study explored how the role of the marketer has changed with digital becoming a far bigger portion of spend and rivaling traditional channelsOne key finding confirmed how extensively the CMO role is changing amp8220The CMO is becoming a more technical role as the balance shifts from traditional to digital spendamp8221 Busignani saidPerception Versus RealityThe study also found that marketers tended to give digital amp8220the benefit of the doubtamp8221 in terms of investing more money into a platform regardless of the efficacy and clarity of the measurement amp8220New channels new ad vehicles new ways of engaging consumers tend to spur investment without necessarily understanding resulting performanceamp8221 Busignani said amp8220There is a willingness to invest in advance of true measurement and accountability because they are new channelsamp8221 But she warned a day of reckoning is coming where marketers realize that they need more accountability to justify their investmentsBusignani saw the related disconnect between spend and results in the studyamp8217s finding She explained that marketers often rely on a particular familiar channel amp8212 such as email or search amp8212 without actually having metrics that accurately assesses whether it is delivering on the goal The report revealed that marketers sometimes assess the effectiveness of the media mix by relying on their perceptions alone for performance success And she added marketers are increasing these investments despite the lack of adequate measurementWith digital now representing more than half of all ad spend in the US basing results on perception alone is a risky venture amp8220Accountability has arrived Digital publishers are interested in measurement to increase the value of their audienceamp8221 Busignani saidTraditional channels are also interested in proving their value to marketers in this increasingly fragmented ecosystem amp8220As the fight for ad dollars continues data and concrete measurement are a battleground for both digital and traditionalamp8221 she said amp8220And consumers need to benefit in a privacycompliant wayamp8221Surprising FindingsOne of the unexpected results from the study is that marketers are shifting their priorities Fortyone percent of marketers said that acquiring new customers is the most important goal amp8220Marketers are focused on acquiring new customers rather than focusing on retention and reducing churnamp8221 Busignani said Compared to last yearamp8217s study she added the pendulum has not yet swung back to a balance between acquisition and amp8220ensuring engagement with your existing client base and preventing churnamp8221 But she is confident that the priorities will amp8220start to shift back with more balance between customer acquisition and retention and engagement with current customersamp8221At the same time brand awareness also was a lower priority than customer acquisition The risk she warned is that amp8220we have neglected brand building and brand engagementamp8221 Busignani recommends that advertisers and marketers take the time to fully understand the longterm effects of brand building on both acquisition and retentionNielsen is committed to helping the industry navigate these changes supporting and informing all priorities Busignani pointed out amp8220We have a rich history in measurementamp8221 she said amp8220serving a role in the marketplace around understanding audiences as well as helping advertisers understand what they are getting for their investment and helping media demonstrate the value of their audiencesamp8221 When you can offer all of those solutions it is only a matter of time before the Age of Dissonance becomes the Age of HarmonyThe full report on Nielsen39s Annual Marketing study is available hereampgtDon39t stop now Stay in the know on Nielsen with more from Nielsen Data InSitesClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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Nielsen’s Lana Busignani on Navigating the Age of Dissonance

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Charlene Weisler

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Nielsen’s Lana Busignani on Navigating the Age of Dissonance

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