Widespread budget cuts and demands to ‘do more with less’ have forced corporate marketers to step up their accountability and measurement efforts and improve collaboration with other organizational departments, according to a recent survey from Marketing Management Analytics (MMA) and the Association of National Advertisers (ANA).
The study also found that cost-saving measures are causing marketers to shift campaigns away from traditional media toward digital formats, away from brand-building activities toward promotional tactics, and into lower-cost media in general, MarketingCharts reports.
“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, SVP and marketing officer for MMA. “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.”
Improving Effectiveness Without Spending
Nearly all the firms in the survey (92%) say they are taking steps to improve marketing effectiveness without spending more in 2009. To do so, they are employing significant tactical changes:
- Shifting investments from traditional to digital media (70% of respondents).
- Shifting advertising investment from brand-building initiatives to promotional marketing (53).
- Shifting into lower-cost media, i.e. local vs. national TV spots, 15-second vs. 30-second, etc (38% of respondents).
Read the full report at; Cutbacks Force Greater Marketing Accountability, Collaboration – MarketingVOX
– Steve (www.SPMsolutions.NET)