A new study shows that as the recession lingers, businesses are more focused on marketing accountability.
The Association of National Advertisers and Marketing Management Analytics has released its fifth annual Marketing Accountability Survey report that shows substantial gains in acceptance of and use of marketing accountability programs, executive support and marketing-finance cooperation.
“With the economy still struggling to find its way out of the doldrums, marketing accountability has moved from the category of ”˜nice to have”™ to ”˜must have,”™” said Douglas Brooks, senior vice president and marketing officer for Marketing Management Analytics.
Brooks said the programs and cooperation gains have been driven by the economy as well as solid evidence of their effectiveness and contribution to the bottom line.
“The findings in this survey confirm that management and finance are getting on board in increasing numbers and becoming enthusiastic champions of marketing accountability as they see the results in black and white,” Brooks said.
There were 95 senior-level marketers surveyed in June, following similar studies conducted together since 2005. Brooks said the results show marketers are being forced to do more with less in this economy. Seventy-five percent of respondents reported a decrease in their marketing budget in 2009. Sixty-seven percent of respondents said marketers were expected to drive more sales with the same or lower budget.
“With marketers, CFOs and CEOs paying more attention to each dollar spent, marketing accountability processes have become strategic imperatives”, said Bob Liodice, president and CEO of Association of National Advertisers. “Such programs have had a positive impact on sales and marketing ROI (return on investment), and will continue to do so with senior-level buy-in and, importantly, cross-functional representation.”
Liodice said reflecting these trends, marketing accountability programs have taken on much greater significance. The 2010 marketing outlook is one of cautious optimism, he said. While 33 percent said their marketing budget would remain the same next year, 36 percent said they expect it to increase, with 12 percent saying it would go up by more than 10 percent. Fourteen percent said their marketing outlay would decrease by more than 10 percent in 2010.
