SOURCE: VisionEdge Marketing

March 16, 2006 10:00 ET

Fifth Annual Marketing Performance Management Survey Shows Increasing Dissatisfaction With Measurement Processes and Tools

AUSTIN, TX -- (MARKET WIRE) -- March 16, 2006 -- VisionEdge Marketing announced the results of its fifth annual marketing Performance Management Survey. Executives and marketing professionals revealed that measuring marketing continues to be a top priority, yet 86% of the respondents remain dissatisfied with their ability to measure and track marketing performance. This is an increase over last year's feedback where 77% of the respondents indicated dissatisfaction. Processes and training key ingredients for improving the state of metrics remain under funded, with only 9% of the respondents indicating that metrics training is among their top three training priorities. Even worse, 60% didn't have any budget set aside at all for metrics training. Commitment to measuring marketing requires a commitment of resources.

"Even the best athletes in the world recognize the value of ongoing training," said Laura Patterson, president of VisionEdge Marketing. "Improving marketing performance is more than tracking numbers. It's about having the right skills, tools and processes. We need a little less talk and a lot more action if we're serious about improving metrics proficiency and competency in our discipline."

There is a wide gap between what metrics are expected to be measured and processes in place to measure these metrics. The 126 respondents were also asked to select from a list of twenty-two metrics all of the metrics they will be required to track in 2006 and whether they had a process for tracking these. In most cases, companies lack the processes for measuring the metrics they selected. For example, of the 71% of the respondents who indicated market share as a primary metric, only 50% have a process to track this metric. Of the 39% expected to grow customer value, only 9% have a process.

"Lack of processes and standards could lead to inconsistency and inaccuracy in progress reports to management and undermine marketing's ability to demonstrate their contribution. Consistently tracking marketing performance measures is the best and easiest way to show the value of marketing to the organization," said Patterson.

Other key findings and details about the online survey are available at http://www.visionedgemarketing.com/index.aspx?page=216.

To purchase the full report please visit the VisionEdge Marketing Store at http://www.visionedgemarketing.com/comersus/store/comersus_viewitem.asp?idproduct=42.

About VisionEdge Marketing

VisionEdge Marketing of Austin, Texas (www.visionedgemarketing.com) is a data-driven strategic and product marketing consulting firm recognized as a thought leader in the area of marketing performance management.

Contact Information

  • CONTACT:
    David Lerma
    Marketing
    512-681-8800 ext. 13