Unified, a company offering business intelligence for social advertising, has released its latest report on social advertising transparency, The New Age of Transparency, which looks at the top data challenges facing social advertisers.
“As the fastest-growing part of the paid marketing mix, social advertising is expected to accumulate an impressive 40 billion dollars in global ad spend this year, ” says Unified Co-Founder and CEO Jason Beckerman (pictured left). Even with this massive growth, marketers are struggling to manage fragmented data silos across their brand portfolios, activation buying tools, and agency teams. This is making it nearly impossible to gain meaningful transparency or make intelligent decisions about their investments.
“After speaking to hundreds of digital marketers from Fortune 500 brands and their agencies, it is clear that 2017 is the tipping point. This year marks the year where marketers intend to leverage business intelligence to give them the transparency and context they need to confidently unleash the power of their social advertising investments.”
50% of social marketers refer to their data as “a kludge” and say that its labor intensive and error prone
38% of marketers say they have no capability to normalize and enrich social data to make it usable
56% have little to no transparency into social advertising performance and ROI
60% have little to no transparency into how they are preforming against benchmarks
60% have little to no ability to easily share performance analytics with other teams
51% have little to no transparency into which solution is working best
Fragmentation causes challenges and limits social advertisers in reaching their full potential.
–1 in 3 marketers leverage 4-10 different buying and/or activation tools for their brand
–67% of marketers state that “the ability to understand creative and targeting performance at a granular level” is somewhat to extremely important
–Only 8% of marketers call themselves advanced trailblazers when it comes to BI for social ads – meaning there is a huge opportunity for growth in 2017
–50% of marketers expect to increase the social advertising intelligence budget in 2017
Please see here for the full report.