â–¶ No Marketing Cuts: According to a recent study on measurement and accountability by Forbes Insights and MarketShare Partners, companies are not cutting back on marketing despite the recent economic roller coaster. Three-quarters of marketing executives who responded to the survey note that they expected their marketing budgets to stay the same or increase in their 2010-2011 fiscal year, with fully one-third expecting an increase. Other findings include:
• Marketers with budgets of less than $1 million favor metrics (58%), whereas marketers beyond the $1 million threshold feel that having a “big idea” was more important (58%).
• The marketing department shares a significant portion of the responsibility for marketing accountability, as 55% of total respondents note that the CMO is ultimately accountable for marketing effectiveness within their organization, a proportion that increases to 71% for those with marketing budgets greater than $1 million.
Source: Forbes Insights