News Digital Media has released a report announcing accountability is the top issue facing marketers today.
Conducted by Core Data, the study interviewed more than 288 marketing professionals throughout Australia. The study focused on future marketing plans and current marketing sentiment.
The report found management is scrutinizing marketing to a greater degree as a result of the GFC. A majority of respondents, 61%, agreed they were required to show more accountability in their decision making as a result of the downturn.
“The report is evidence that marketers across Australia are feeling the pressure of today’s economic environment as we all try to do more with less,” said News Digital Media. “Despite the economic downturn, online advertising looks set to accelerate further with the majority allocating more to online in their media mix.”
A majority of marketers reported more frequent monitoring, with reporting cycles becoming shorter for marketers. Most marketers, 62%, are experiencing budget cuts for this financial year.
Online has reaped the benefits of a changing media mix. Most channels have lost ground to online, with 75% of marketers already allocating relatively more budget to online as a result of the aforementioned budget cuts.
The report found most marketers were being given different objectives and instructions from management as a result of the GFC. Short-term marketing plans have grown from representing just 9%, to representing 66%.