ISBA partnered with The IPA (Institute of Practitioners in Advertising) to assess all aspects of ‘Marketing Effectiveness Culture’ in the form of a quantitative survey carried out by Greengrass Consulting’s Libby Child.
The survey is the largest of its type carried out in the UK. It combines the insights of over 60 brand companies from all sectors, 60 agencies, 100 marketers and finance professionals and 120 agency management. Bringing together both quantitative data (responses to 80+ questions) and wide-ranging perspectives (400+ comments), the study explores what companies are doing to assess the impact of their marketing activity and how they are doing it.
According to the study, over half of marketers rate their current marketing effectiveness culture at just 6 out of 10 or below (with 10 as excellent). However, by 2020, 61% are expecting to see a 2-point or higher increase, with 75% expecting to be at 8 or above, and a third at 9 or 10.
To improve their marketing effectiveness cultures and increase the recognition of the value of marketing expenditure, the report highlights three key recommendations:
- Integrate longer-term measures into the short-term demands
The focus, for the majority, is primarily on marketing’s short-term impact. There are ongoing efforts to integrate and balance long-term strategic aims, within the context of campaign and channel specific results, but the business pressures place an emphasis on the immediate term.
- Formalise, align and agree metrics upfront, across the business
The various stakeholders, internal and external, rarely establish the measures of marketing’s success together, at the outset.
- Recognise that Marketing Effectiveness is increasingly a shared responsibility requiring collaborative working and integrated resources
Marketing Effectiveness is a business priority and no longer the remit of marketing alone; a quarter state it is the responsibility of Insights and Analytics, and 22% feel ‘it is no one business area but a shared responsibility’. However, the survey suggests that the many resourcing, operational and cultural shifts needed to support this changing dynamic are not consistently in place.
Read our press release for more topline data.
ISBA members can explore this extensive piece of work in the following ways:
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