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Marketing KPIs Found Wanting
56% of UK companies consider their marketing measurement capability to be 'non-existent or basic', according to a survey by the Chartered Institute of Marketing (CIM), in partnership with consultants Deloitte.
The benchmark Marketing Measurement and Accountability Study aims to identify how UK and international companies can build stronger marketing measurement capabilities. Initial findings are based on responses from more than 100 UK and multinational organisations, but the survey is still open and can be completed at www.marketing-measurement.com before 12th March.
So far, findings suggest huge room for improvement in measurement. Less than ten per cent of organisations 'always' set clear KPIs for marketing initiatives, and 19% of companies say they have never established clear accountability for strategic marketing initiatives.
David Thorp, the CIM's Director of Research and Professional Development, comments: 'It's concerning to see that even after the resource constraints of an economic downturn, many marketers are still not fully embracing the rigour and accountability that their businesses demand of them. As we now plan for growth, managers must put more effort into establishing true accountability for customer investments.'
Nick Turner, head of marketing effectiveness at Deloitte, says the joint study will help the partners to 'understand how to align organisations around common customer related measures and understand marketing's contribution to them.'
Established in 1911, the CIM has some 45,000 members worldwide and is online at www.cim.co.uk .
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