CMOs remain under the gun to deliver measurable results. The Internet and a plethora of measurement tools have made tracking easier for hard metrics, but what about the soft metrics that continue to crop up?
For example, how does one go about measuring ROI of a Facebook like or calculating ROI on the number of Twitter followers a brand has?
The good news: Marketers have more money in their digital budgets. But with that comes the responsibility of letting their bosses know how the investment is paying off.
The following stats demonstrate ROI's increased importance to CMOs, and highlight the channels and tactics that are proving most measurable.
1. 93% of CMOs say that they are under more pressure to deliver measurable ROI.
2. 50% of B2B marketing executives find it difficult to attribute marketing activity directly to revenue results as a means to justify budgets.
3. 81% of marketers would increase spending on digital, mobile, and social channels if they could better track ROI.
4. More than half of marketers increased their spending on email in 2014 as email ROI reached 2,500%.
5. 23% of B2C marketers are successful at tracking the ROI of their content marketing programs. Additionally, 51% say measuring content effectiveness is a challenge.
6. Just 21% of B2B companies are successful at tracking ROI of their content marketing. And 15 percent say they do not track ROI on content marketing at all.
7. Globally, 41% of marketers confirm inbound produces measurable ROI, and 82% of marketers who blog see positive ROI for their inbound marketing.
8. In the financial industry, Forrester analysts Brad Strothkamp, Alexander Hesse, and Peter Wannemacher have come up with a concrete ROI for mobile banking of 15.7%.
9. Just 21 percent of companies consider themselves effective at measuring mobile ROI.
10. Only 8% of companies say they can determine ROI from their social media spending.
11. Blogging makes marketers 13 times more likely to get positive ROI.
12. 75% of brands say they measure their programmatic campaigns based on sales/conversion rates. However, programmatic advertisers also included brand lift (51%) and reach (23%) among their top evaluation metrics.
13. Which content marketing tactics get the best ROI? More than half (51.9%) of marketers say video.
14. Only 44% of marketing departments say they have a great deal of influence over their organizations’ overall business strategy, 40% think their companies’ marketing is ineffective, and only 34% feel highly proficient in digital marketing. In addition, 79% say proving the business impact of marketing will be even more important in 2015.
15. Email is the best digital channel in terms of measuring ROI.
Here is what the Twitterverse is saying about marketing ROI: