Does your marketing measurement and data have standards?
What does that even mean?
Well, it means you have a standard method for naming, storing, and tracking data across the organization, according to new research (registration required) from Claravine, a software provider, and research firm Advertiser Perceptions. This could include shared taxonomies for marketing data, measurement metrics, and even tracking codes.
Do you have that?
Probably not, according to the research.
However, 95% of those surveyed agree that standards are a must for moving forward and showing ROI for advertising and marketing. And most agencies (98%) and client marketers (81%) agree their company will fall behind competitors or lose market share over time without a data standards practice.
Yet, weirdly, the same research finds that these same advertisers report an average 33% increase in return on investment that is (or could be) seen from implementing data standards.
Wait. If they don’t have any data standards, how could they be so confident in the ROI to be …