| | Leading companies
recognise the growing
need to measure the
effectiveness of their
marketing campaigns, but
admit that they spend
little executive time
doing it, according to a
global survey compiled
by the Economist
Intelligence Unit.
The Google-sponsored
survey also found that
between a third and a
half of respondents
don’t know how to
measure the impact of
several of their online
marketing activities.
The survey found
that:
● Half of all
respondents think that
the level of
accountability for all
marketing activities is
“rising dramatically”.
● Executives spend
less time assessing the
performance of marketing | |
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| | campaigns than either
planning or executing
them.
● Between a third and
a half say they don’t
know how to measure the
impact of several of
their online marketing
activities either.
The survey also
showed that leading
companies believe
marketing will play an
increasing strategic
role in their business,
and that online
advertising will be
central to major
campaigns. Over half
believe that brand
advertising will drive
that growth.
● 45% of respondents
believe that the
marketing department
will become more deeply
involved in decisions
regarding strategic
partnerships.
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● 72% of respondents
say that in two years’
time online will be the
media platform that
determines how major
interactive marketing
campaigns are planned
and executed (up from
only 28% of respondents
who believe that is true
of today).
● 29% of companies
will re-allocate their
marketing budget from
offline to online
advertising and
promotion.
Nigel Holloway,
director of research in
the Americas for the
Economist Intelligence
Unit, says: “Online
marketing is rapidly
maturing, but companies
have to make sure their
actions catch up with
their aspirations.
Executives must not lose
sight of the need for | |
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| | specific yardsticks of
success in every part of
their marketing budget.”
The survey also
detected little apparent
co-ordination between
online ad spending with
traditional media budget
allocations. Integration
of online and offline
marketing remains the
exception rather than
the rule, with 52% of
executives admitting
their online and offline
marketing efforts either
run in parallel or are
not integrated at all.
Google said that more
needs to be done if
companies are to exploit
the potential for online
marketing.
“The next two years
will be decisive for the
art and science of media
marketing,” said
Lorraine Twohill,
director of European
marketing programmes for
Google. “This research
clearly demonstrates the | |
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| | paradox between how
deeply executives
believe in the power of
marketing – and
increasingly online
marketing – and how much
more work is necessary
to deliver on these
expectations.”
More than 200
companies participated
in the survey, measuring
attitudes to online
marketing and
advertising. Of those
companies, 70 generate
annual revenues of at
least $5bn.
The global study
comprised 228 executives
in the United States,
Europe, Asia and
elsewhere. Regional
differences were
negligible.
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