FOR IMMEDIATE RELEASE

WHAT MATTERS MOST in MARKETING Survey SHOWS ADDED PRESSURE FOR METRICS AND ROI DATA

Study shows need to measure but data is tough to uncover

  CHELMSFORD and GROTON, MA, May 19, 2003 – While nearly all (96 percent) marketing executives in a recent survey say that the need to measure marketing activities has increased or remained the same from 2002 to 2003, only 27 percent have the tools, time or knowledge to always do so according to a nationwide survey conducted by Smith & Suita Inc. of Groton, MA and MarketWise Insights, Inc. of Chelmsford, MA.

The survey is a sequel to the nationwide “What Matters Most when Marketing in a Tough Economy” report which the companies released in 2002.  Respondents to that survey ranked measurement and return on investment as two of the top marketing concerns in 2002.

The senior-level marketing executives, directors and above from 52 US-based high technology companies who participated in the survey cited public relations, advertising and conferences and events as the most difficult disciplines to measure.  The primary stumbling blocks to measuring marketing activities include:

·         Difficulty getting the data (49 percent)

·         Not having the technology or tools to measure results (47 percent)

·         Not having enough time (45 percent)

According to the survey the easiest disciplines to measure are direct mail and online marketing.  Key determinants of success are the percentage of qualified leads, the quantity of campaign conversions, increased web traffic, return on investment and other mostly tangible manifestations. 

 For many of the areas studied, including public relations, advertising, sales tools, conferences and events, and research-related disciplines such as market trend research, new product research, competitive analysis and customer research, many respondents struggled to identify clear measurement criteria.

“Marketing measurement is an area that demands more data and research to clearly help the vast majority who are struggling with appropriate benchmarks,” said Carol Monaco, president of MarketWise Insights, Inc.  “While many respondents indicated that ‘There is no clear report card’ and that ‘the lack of quantifiable evidence of success/failure makes it difficult [to measure ROI],’ there are others who are using measurement to improve their marketing efforts,” Monaco noted.

 “Measurement is allowing me to treat campaign management like an investment portfolio,” said the director of marketing at a company with revenue of less than $50 million.  “Campaigns with low response and poor quality leads are identified and discarded early allowing a more profitable use of budget,” he said.  According to a marketing director for a company with over $250 million in revenue, “We are able to show that an investment of $50,000 per quarter in direct marketing generates over $1 million in revenue each quarter.  Examples like this help demonstrate to both sales and executives the value that marketing brings to the company’s bottom line.”

Criteria Varies Widely 

Survey respondents use a wide variety of criteria in measuring the effectiveness of their marketing activities.  Marketing executives use quantitative data such as pipeline and revenue growth, and return on investment, as well as qualitative information such as the impact on new product direction and feedback from sales.

For example, public relations is measured with criteria ranging from quantifiable values including actual number of placements and comparable ad value to qualitative information such as the tone of the article, inclusion of key messages and “buzz”.

 “Determining clear objectives from a strategic and tactical standpoint is critical to measuring a campaign or functions’ overall effectiveness,” said Pat Smith, principal of Smith & Suita, Inc., “but it needs to be followed by an open exploration on how one measures that success.”

While each company may apply different standards of success for a positive ROI, a marketing best practice calls for written objectives for each major discipline, program and campaign including a balanced mix of quantitative and qualitative values.  “What may appear to be obvious to some and time consuming to others will typically result in a more tightly defined campaign with clear measurements of success understood by all,” she concluded.

                The complete 30-page Marketing Measurement and Return on Investment: What Matters Most” report is available at $299 online using a credit card by clicking here. (and for a limited time, receive our special introductory price of only $249---a savings of  $50!) or you can purchase offline by contacting info@smithandsuita.com. 

About MarketWise Insights, Inc. and Smith & Suita, Inc.

MarketWise Insights, Inc. is a market research and marketing consulting company that focuses on measurable results and actionable research for its high technology clients. The company helps clients research and analyze markets, understand customers' needs, recognize competitive threats, improve market positioning, and develop and launch new products and services. MarketWise Insights, Inc. is located in Brighton, Colorado. For more information, visit www.MarketWiseinsights.com or call 303-659-8061. 

Smith & Suita Inc. is a marketing service provider that applies objective business standards and expertise in Public Relations, Investor Relations and Marketing Services to solving marketing problems for its high technology clients.  Smith & Suita has been helping private and publicly held companies focus their strategic efforts and execute projects that achieve results since 1998.  The company is headquartered in Groton, Mass., and can be reached at info@smithandsuita.com or 978-448-5349.                                                     

Media Inquiries

Contact:  Paula Levis Suita

                            Smith & Suita, Inc. and

                            MarketWise Insights, Inc.

                            781-784-2900

                            psuita@smithandsuita.com