The annual BRITE conference from Columbia Business School was held on March 5, 2012, its Center on Global Brand Leadership and the New York American Marketing Association (NYAMA) revealed the findings of the first BRITE-NYAMA Marketing Measurement in Transition Study.
This research involved the participation of the senior marketing execs from large corporations so that the researchers could obtain an improved understanding of the way that practices are evolving in the following categories: marketing measurement and return on investment, collection and use of data, and the way that traditional and digital marketing are being integrated.
There were three primary findings to the study:
• Marketing was failing to use big data properly
• Marketers jump on the digital tool bandwagon quickly, but find it challenging to measure their results
• Marketers agree that return on investment is required, but there is no standard as to its implementation or meaning.
Marketing professor and NYAMA board member Don Sexton from Columbia Business School led the study with BRITE Center on Global Brand Leadership executive director David Rogers.
The respondents to the online survey were 253 corporate marketing decision makers who were at the director level or higher in their companies. The survey ran from January 27 through February 8. These execs worked for large corporations, 90 percent of which had an annual worldwide revenue of more than $50 million, and 45 percent of which had an annual global revenue of more than $1 billion, crossing several industries.
Funding support for the study was provided by GreenBook and Research Now.