UK marketers increasingly confident but lacking ROI evidence, says study

UK — UK marketers are entering 2014 ‘in an upbeat mood’, but are concerned about metrics aligned with justifying marketing spend, according to the latest Marketing Confidence Monitor.

The quarterly study of marketing professionals, run by the Chartered Institute of Marketing (CIM) and Bloomberg, revealed that 60% of marketers have increased confidence in UK economic growth and performance in the year ahead. This is double the level of confidence shown in 2012.

This optimism is underpinned by performance – 46% of marketers reported that they exceeded the expectations of their financial performance during the last year, compared with 29% who fell short.

However, the report also revealed that while businesses are placing greater emphasis on marketing’s contribution to business strategy, many marketers are “struggling to justify their budgets with a compelling, commercially-grounded rationale.”

According to the study, 27% of marketers said they evaluate their campaigns only when time and capacity allows, and just 8% claimed their measurement was “sophisticated”. In addition, 45% said their marketing planning process was driven primarily by budgets, compared with 37% who claimed insight and analysis was the primary driver.

Thomas Brown, associate director, research and insights at CIM, said: “As businesses look to ensure their readiness for a new year, we need to break out of this cycle of short-termism and look to elevate marketing investment with a view to driving growth, performance and more commercially-grounded business metrics. Marketing plans must align with core business strategy and collaboration with colleagues will only enhance more meaningful business performance.”

More detail and results from the study can be found here.

We hope you enjoyed this article.
Research Live is published by MRS.

The Market Research Society (MRS) exists to promote and protect the research sector, showcasing how research delivers impact for businesses and government.

Members of MRS enjoy many benefits including tailoured policy guidance, discounts on training and conferences, and access to member-only content.

For example, there's an archive of winning case studies from over a decade of MRS Awards.

Find out more about the benefits of joining MRS here.

0 Comments


Display name

Email

Join the discussion

Newsletter
Stay connected with the latest insights and trends...
Sign Up
Latest From MRS

Our latest training courses

Our new 2025 training programme is now launched as part of the development offered within the MRS Global Insight Academy

See all training

Specialist conferences

Our one-day conferences cover topics including CX and UX, Semiotics, B2B, Finance, AI and Leaders' Forums.

See all conferences

MRS reports on AI

MRS has published a three-part series on how generative AI is impacting the research sector, including synthetic respondents and challenges to adoption.

See the reports

Progress faster...
with MRS 
membership

Mentoring

CPD/recognition

Webinars

Codeline

Discounts