Want to take your performance to that ideal level of highly effective and efficient marketing?
It takes better access to detailed data and ROI discipline, but it also comes along with greater growth and better levels of budgets, according to the recently released Lenskold Group/Kneebone 2008 Marketing ROI and Measurements Study.
The study, conducted with 834 MarketingProfs members in April, found that most marketers (75%) are making progress in diverse areas of marketing ROI and measurement capabilities, but many continue to struggle with some basic measurements required for managing and improve marketing's contribution to business objectives.
Overall, more marketers rated their measurement abilities as negative than positive (see Figure 1). The ability to measure the incremental impact of marketing and to diagnose performance gaps are particularly important to provide critical insight that can guide performance improvements.
Marketers who described their marketing as highly effective and efficient (just 9% of all marketers surveyed), showed better measurement and ROI practices, indicating that they are making marketing decisions with better insight. These high performers are...
- Much stronger in their measurement abilities (see Figure 2)
- Gaining access to critical data for analysis (see Figure 3)
- Much more likely to use ROI and profitability metrics to assess their marketing performance (see Figure 4)
These characteristics are helping companies to secure the right level of marketing budget to achieve their goals and to outgrow their competitors.