[April 10, 2014] |
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Fournaise: 90% of Marketers Are Not Trained in Marketing Performance & Marketing ROI
LONDON --(Business Wire)--
90% of Marketers are not trained in Marketing Performance & Marketing
ROI, and 80% struggle with being able to properly demonstrate to their
Top Management the business effectiveness of their Marketing spending,
campaigns and activities.
These are two of the eyebrow-raising findings identified by The
Fournaise Marketing Group - one of the world's leading All-Media
Marketing Performance Measurement & Management (MPM) companies - through
its Global Marketing Effectiveness Program in which it measures the
performance of Marketers each year, via (1) hi-quant interviews with
more than 1,200 CEOs, Management & Marketing decision-makers in North
America, Europe, Asia and Australia; and (2) the actual effectiveness of
2.5+ million B2C/B2B marketing strategies, campaigns and ads Fournaise
Performance-Tracks across all media channels (traditional, digital,
direct, mobile) across 20+ countries worldwide each year.
At a time when CEOs are putting even more pressure on Marketers to
generate (and prove they generate) incremental customer demand for the
companies' products/services (i.e. their ability to generate more sales,
more market share, more prospects and/or more conversions), Fournaise
tracked four head-shaking results:
1) 67% of Marketers don't believe Marketing ROI requires a financial
outcome (these are the very Marketer who struggle to give the correct
mathematical formula for Marketing ROI), demonstrating a total lack of
understanding of what ROI is all about.
2) 64% of Marketers use Brand Awareness as their Top Marketing ROI KPI,
58% place "Likes", "Tweets", "Clicks" and/or "CTR" in their Top 5
Marketing ROI KPIs, and 31% still believe simply measuring the audience
they have reached is Marketing ROI.
3) 63% of Marketers don't include any financial outcome when reporting
on and presenting Marketing results to their CEOs & Top Management.
4) More than 80% are unable to write a P&L and Balance Sheet correctly
when given a simple business scenario. These Marketers are unable to
give the correct definitions of basic Financial KPIs used day in day out
by CEOs and Boards (such as EBITDA, P/E Ratio or ROE), and are unable to
correctly explain the impact Marketing can have on a company's Balance
Sheet - demonstrating an inability to understand and speak the Finance &
Accounting language.
"It's an education problem, at two levels:
(1) We analysed the content of hundreds of Marketing degrees/diplomas
around the world and noticed that 90% do not have any specific (and
proper) training on Marketing Performance & Marketing ROI - so we can't
be surprised if Marketers with a Marketing degree/diploma struggle with
Marketing Performance & ROI; and
(2) We tracked that 85% of Marketers are well educated, but
unfortunately more than 50% have degrees/diplomas in a
non-Marketing-related field such as English, History, Economics,
Journalism, Sociology and Foreign Languages - these Marketers do not
know enough and do not master enough the critical Marketing techniques
and formulae (79% of these Marketers struggle to correctly state what
the basic 4Ps & 5Cs of Marketing are - in the right order), and are lost
when it comes to Marketing Performance & ROI" said Jerome Fontaine,
Global CEO & Chief Tracker of Fournaise.
"In other words, every Tom, Dick & Harry is a Marketer, lacking the
scientific and financial knowledge necessary to inform and optimise the
creative side of Marketing. CEOs have told us again and again: they want
ROI Marketers®, i.e. 360-degree performance machines trained to deliver
(real) business results and prove/optimise ROI. As long as Marketers
continue to fail to get trained in, master the use of and optimise
Marketing Performance & Marketing ROI, they will struggle to demonstrate
to CEOs that they are not 'money spenders who jump on (and hide) behind
the latest fads and blow smoke', but real business generators" Fontaine
added.
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