CorpComms Magazine

Just half of board-level executives factor marketing and consumer metrics into their decision making, despite the fact that the overwhelming majority of companies are devoting time and money to research in these areas, according to a new study.

While nine out of ten companies measure consumer satisfaction, rate of acquisition and rate of retention, and 66 per cent, 60 per cent and 51 per cent respectively affirm they do so effectively, less than half of businesses believe their executives take the data on board, reveals research from the Chartered Institute of Marketing (CIM) and global accounting and consultancy firm Deloitte.

Although four out of five organisations considered their marketing agenda well-aligned with their overall corporate strategy, few think executives are returning the favour. Just 37 per cent think their business strategy is clearly translated into marketing objectives.

Nick Turner, head of marketing effectiveness at Deloitte and one of the authors of the report, said: 'Our research really begs the question: what's the point of measuring marketing if companies are not going to take decisions based on that insight? With half the organisations surveyed not using customer and marketing measures, Boards should ask themselves what really drives their decision making process before pointing the finger of accountability at the marketing department.'

Thomas Brown, head of insights at the Chartered Institute of Marketing, said: 'Measuring the impact of marketing investment is an investment in itself; it takes time, expertise and budget - all of which are in short supply. If half of businesses aren't using what their metrics tell them to drive change, leaders should be asking 'do we have the wrong metrics, or do we have an education imperative within the business?'. In many cases, it may be the latter - an area often overlooked.'

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