As I mentioned this summer in “Business Outcomes Are The Top KPI Of Video Ad Buyers – IAB Report Part Two,” IAB’s latest Digital Video report found that within the digital video channel, buyers are determining success via business outcomes, i.e., sales, store/website visits, etc.
So, figuring out how to use Google Analytics 4 (GA4) to measure business outcomes instead of marketing outputs remains “the road less traveled.”
Understanding Evolving Consumer Habits Is A Growing Concern
While economic worries have faded, the concern over executing cross-channel media measurement has risen.
The resilient economy, marked by a 2.3% rise in consumer spending in Q2 2024, has eased buyers’ concerns.
But, as media convergence gains traction, cross-channel measurement remains a top priority, especially for large advertisers that spend over $50 million annually.
Other concerns, like managing reach and frequency across screens and channels, as well as media inflation, have remained flat.
Understanding evolving consumer habits is a growing concern – and is keeping significantly more buyers up at night than it did last year.
It does seem like it’s time to spring forward in the media and marketing industries, although this has traditionally been the season when digital marketers prepare to fall back.
All data above has been taken from The 2024 Outlook Study: August Update – A Snapshot into Ad Spend, Opportunities, and Strategies for Growth by the IAB. The study is a follow-up to the initial November 2023 release, providing current perspectives from 200 buy-side ad investment decision makers at brands and agencies.
More resources:
Featured Image: SeventyFour/Shutterstock