Those are some findings from the Association of National Advertisers' third annual Marketing Accountability survey, conducted with Marketing Management Analytics. The survey of 101 senior-level marketers conducted between April and May found one-third satisfied with their ability to measure and act on ROI, up from 19% one year ago. Still, 20% reported that although they are making rapid progress, they haven't completed the process. For the remaining half, ROI measurement remains a conundrum.
"A lot of effort's required to collect and clean the data," said survey respondent Stephen Dull, VP-strategy at VF Corp., which has in the past several years made understanding marketing ROI a high priority. "It is a massive task."
Like most respondents with successful programs, VF did not rely substantially on its agency partners to determine marketing accountability. Only 36% of that group had their agencies involved. "The survey didn't ask why," said MMA Chief Client Officer John Nardone, "but our experience is that marketers view agencies as biased. Do you want the fox in the henhouse?"
Read more at AdAge.com