I’ve been pretty vocal about planning a
marketing program and reviewing it at least annually. I have been especially emphatic about the communications
portion of that effort. You should
have measurement goals. Measurement must be a consideration in the planning process up-front. The
tricky part is that so much of what falls within a typical marketing budget is either
not measureable or not marketing. Most marketers are terrible at
defending themselves. When you consider the results of a recent survey of top
marketing people you can see why.
Advertising Age reported (March 12,
2012) that a survey of 243 Chief Marketing Officers (CMOs) conducted in January
and February of 2012 revealed that 57% don’t establish budgets according to return on
investment (ROI). Furthermore, 68% said budgets are based on historical spending. 28% said they go on instinct. Finally 7% of respondents said most of their spending not based
on metrics at all.
This study by Columbia Business School Center on Global Brand Leadership and the American Advertising Association of NYC isn’t as surprising as it is evidence of our own death wish when it comes to earning the respect of other business leaders. Occasionally you will hear someone grip about wanting a place at the table in the C-suite, but I think we marketers rather relish our precarious place in the world.
This study by Columbia Business School Center on Global Brand Leadership and the American Advertising Association of NYC isn’t as surprising as it is evidence of our own death wish when it comes to earning the respect of other business leaders. Occasionally you will hear someone grip about wanting a place at the table in the C-suite, but I think we marketers rather relish our precarious place in the world.
What do you think?