Company Marketing Capabilities
Last month, The Chartered Institute of Marketing joined forces with Deloitte to launch a new benchmark survey to explore the challenges of marketing measurement and accountability facing both UK and international companies. The benchmark survey itself is still live but initial findings already reveal some underlying challenges for the marketing industry:
- Less than 10% of organisations 'always' set clear KPIs (Key Performance Indicators) for marketing initiatives
- 19% of companies stated that they never established clear accountability for strategic marketing initiatives
- 56% of companies rate their capability to measure marketing as “non-existent” or “basic”.
David Thorp, director of research and professional development at The Chartered Institute of Marketing, commented; “It’s concerning to see that even after the resource constraints of an economic downturn, many marketers are still not fully embracing the rigour and accountability that their businesses demand of them. As we now plan for growth, managers must put more effort into establishing true accountability for customer investments.”
Nick Turner, head of marketing effectiveness at Deloitte added: “Marketing measurement and accountability is an issue that many organisations need to address. Our joint study with The Chartered Institute of Marketing will help us to understand how to align organisations around common customer related measures and understand marketing’s contribution to them. The insights will enable us to identify actionable steps and provide pragmatic solutions that companies can take.”
The benchmark survey is still open can be completed at www.marketing-measurement.com. For those participants who wish to be included in the final report the survey will close on 12 March. There is no cost to take part and all participants receive instant results and a report charting their responses against peers. They will also receive a complimentary copy of the summary findings report, due to be published in Spring 2010.
FIVP has shared a survey, inviting those working in independent practice to share their views on the CMA's proposed remedies.
