Marketers Finally Turn Toward Metrics

Author:

Laurie Sullivan

Source:

One-third of U.S. companies plan to maintain or increase marketing budgets in the 2010-2011 fiscal year, and a higher percentage will set up guidelines and metrics to prove accountability, according to a study released Wednesday.
 
The Forbes Insights and software and analytics firm MarketShare Partners reveals marketers and agencies continue to struggle with finding the metrics to justify dollars spent on campaigns. Fifty-eight percent of companies working with budgets up to $1 million admit they will implement tools that measure return on investment (ROI) to measurable outcomes, compared with 40% for those working with higher budgets.
 
Companies with lower budgets favored working on developing metrics, while 58% of marketers with budgets of $1 million or more believe having a "big idea" was more important. With budgets protected or growing, proving the wisdom of how those budgets are used remains a priority.
 
More than half -- 55% -- of total respondents say CMOs own responsibility for effective marketing campaigns for their organization, and that proportion increases to 71% for those with marketing budgets greater than $1 million.
 
Measurement and accountability may have become equally important...
 
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