Posted by willcritchlow
Digital marketing is measurable.
It’s probably the single most common claim everyone hears about digital, and I can’t count the number of times I’ve seen conference speakers talk about it (heck, I’ve even done it myself).
I mean, look at those offline dinosaurs, the argument goes. They all know that half their spend is wasted — they just don’t know which half.
Maybe the joke’s on us digital marketers though, who garnered only 41% of global ad spend even in 2017 after years of strong growth.
Unfortunately, while we were geeking out about attribution models and cross-device tracking, we were accidentally triggering a common human cognitive bias that kept us anchored on small amounts, leaving buckets of money on the table and fundamentally reducing our impact and access to the C-suite.
And what’s worse is that we have convinced ourselves that it’s a critical part of what makes digital marketing great. The simplest way to see this is to realize that, for most of us, I very much doubt that if you removed all our measurement ability we’d reduce our digital marketing investment to nothing.
In truth, of course, we’re nowhere close to measuring all the benefits of most …read more