Mumbai: Boston Consulting Group (BCG), in collaboration with Meta, has launched a report titled, “Measure To Grow: Drive double-digit growth by measuring marketing right” that brings together for the first time in India, an industry consensus on optimal marketing measurement for marketing spends. The study provides a comprehensive view on the best-in-class marketing measurement practices that can unlock exponential business growth for businesses, small and large.
For the purpose of this study, BCG and Meta collaborated with leading marketing measurement specialists including Adobe, Analytic Edge, AppsFlyer, Cartesian Consulting, Nielsen, and RainMan Consulting as well as 18 digital-first organizations from India across five key industries (Financial Services, EdTech, E-commerce, Travel, Media/OTT) to present this view.
The report findings highlight that there has been a 3x increase in the share of digital marketing spends over the last five years by India Inc. However, despite its significant growth, the measurement practices have not kept pace. As a result, organizations are leaving significant value on the table.
“Measurement in India is largely at a nascent stage, and most organizations are still in the early stages of the journey” said Shaveen Garg, Managing Director and Partner, BCG. “While there do exist pockets of measurement excellence across industries, a lot of ground remains to be covered before organizations can accelerate their measurement journey to unlock unlimited potential and growth within the purview of digital marketing.”
Said Pratham Hegde, Director and Head of Measurement at Facebook India, “Digital is the new mainstream, and in order to unlock growth, there is a growing need for businesses to measure the true impact of marketing on business outcomes. The industry consensus is that there is no single measurement method or metric that will address all measurement requirements. The core recommendation for advertisers is to have an incrementality based approach at the centre of their measurement philosophy.”
“Organizations today need to make multiple marketing decisions – defining media mix, budget allocation, campaign optimizations… However, in a complex measurement ecosystem, with multiple stakeholders (app measurement, web analytics, platform-driven campaign performance reports…), with divergent recommendations, they often find it difficult to identify the right measurement approach.” Said Pallavi Malani, Managing Director and Partner, BCG “Our studies show that while leading global companies are significantly ahead on the measurement journeys (deploying Marketing mix models and statistical Multi-touch-attribution), most Indian organizations have just started their journeys towards measurement maturity – with encouraging, yet limited, pockets of measurement excellence, primarily in Financial services, eCommerce, Education technology and media.”
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
Hyderabad, April 2024: BNI Hyderabad region, launched the world’s first Telugu Chap
In the bustling world of aviation, where every second counts and unforeseen circumstances can arise any moment, the presence of a
April 6th 2024, Kolkata: The National Human Resource Development Network (NHRDN) has concluded its 26th National Conf
Tech-trends / 13-04-2024
iDestiny Unveiled Kolkata's First & Largest Apple Premium Partner Store in East India Near Park Circus 7 Point CrossingBusiness / 07-04-2024
BNI Hyderabad region launches World’s first Telugu Chapter, BNI Akshara at Nagole!Business / 07-04-2024
Guardians of Health and Safety: Inside the Vital Role of CSMIA's Airport Medical Services TeamBusiness / 07-04-2024
NHRDN’s 26th National Conference - “Beyond Tomorrow” sheds light on the Future HR TrendsRest-of-India / 07-04-2024
The Congress hand symbol is turning into a symbol of slap for the poor, the 6 guarantees are turning out to be 6 guaranteed slaps for them : Konda Vishweshwar ReddyPelikken © Copyright 2022, All Rights Reserved
_1712467691.jpg)
