New IPA research reveals that brands and agencies need to invest in effectiveness roadmaps to unlock further growth.
This was the key takeaway from the IPA's inaugural 'Effectiveness Culture Monitor', supported by ISBA. The study found that the marketing effectiveness culture of the industry – both on the agency and brand sides – appears to be in a strong position at the surface level. But there is significant work that can be done at a deeper level to boost business performance.
This should be achieved predominantly by both agencies and brands creating effectiveness roadmaps.
Having an effectiveness roadmap positively increases marketing effectiveness culture scores by 26%, the study found. It also revealed that brands with an effectiveness roadmap are more likely to balance long- and short-term value.
The surveyed agencies rated their overall average marketing effectiveness culture at 7.3 out of 10. Brands rated theirs fractionally lower at 6.9 out of 10.
Starting the effectiveness journey boosts an organisation’s effectiveness culture immediately, with the marketing effectiveness culture score of organisations increasing from 3.7 among those who have yet to start, to 7 out of 10 once they have begun.
Janet Hull OBE, IPA director of marketing stratergy and executive dIrector IPA EffWorks, said: “It is most encouraging to see that according to these agencies and brands, there are so many that are understanding the impact that a focus in marketing effectiveness can bring.
"This is our benchmark year, so we would like to be able look back and report that more organisations have started their effectiveness journey and, hopefully, that there is better understanding across brands and agencies in what effectiveness means to them, and what the roadmap to increased value looks like.
"As part of our ongoing EffWorks Global mission, we will continue to drive research and development to help our industry improve.”