‘The high price of inflated marketing metrics’ – Marketing Land
Matt Nitzberg says, “Marketers are hooked on inflated numbers, and it’s time for everyone to come back down to earth. Much of the issue started with a “use it or lose it” marketing budget strategy. If marketers didn’t spend everything they had, they didn’t get it come the next budgeting cycle. Marketers told their agencies to spend all of the money, and so that is exactly what the agencies did.
As many brands started to switch to a “prove it or lose it” marketing strategy, things didn’t always improve due to channel silos and other turf battles. Many marketers still wanted to keep their whole budget, so rather than redirect agencies to find the best-performing options, they often asked agencies to find the cheapest options, but to still spend all of the money.
This is where many marketers are today. Media buyers and channel managers spend billions on low-priced advertising and mass messaging so marketers can show that they drove a lot of volume at a good price.
The combination of forced spending and a focus on high volume has led to serious problems for marketing teams. They have fallen victim to fraud, like bots and non-viewable advertising”.
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