Forrester: 11% of marketers budget for innovation efforts
Cambridge, Mass.—Only 11% of marketing organizations set aside a specific centralized budget for innovation efforts, and only 9% make marketing innovation a part of their overall budget, according to a new report from Forrester Research. The report, “Benchmark Your Marketing Innovation Culture,” was based on an online survey of 45 marketing leaders conducted in May. It found that only 20% of C-suite leaders are actively monitoring marketing innovation programs and only 12% of companies surveyed have a program to develop marketing innovation leaders. At those organizations that do monitor marketing innovation, 44% of marketers agreed they were achieving positive ROI from their marketing innovation programs. However, only 36% of marketers at these organizations said they set long-term goals for marketing innovation programs, and only 27% are actively reviewing marketing innovation programs.