Industry bodies the IPA and ISBA are collaborating on a new programme designed to benchmark the effectiveness of agencies and brands through the inaugural Marketing Effectiveness Culture Monitor, with the aim of boosting the industry’s commercial effectiveness and the work it produces.
The survey will assess the effectiveness culture of brands and agencies across all areas of their businesses: including people, process, focus, data, tools and measurement.
The scheme is designed to build on a bank of work from the cross-industry IPA EffWorks initiative, launched in 2017, that explores how a marketing effectiveness culture can drive more productive client/agency relationships and better brand and business outcomes.
Ultimately it is aimed at providing agencies and brands with an understanding of their own progress towards creating a marketing effectiveness culture, as well as from a wider industry perspective.
It will provide an assessment which areas need priority focus to improve marketing effectiveness culture within each brand and agency, as well as a year-on-year comparison against agency and/or brand peers and the industry’s approach to marketing effectiveness.
Findings from the study will be analysed by former Samsung effectiveness expert, Go Ignite Consulting’s Nick Milne, and will be announced in September ahead of the IPA EffWorks Conference in October 2021.
It will help inform agencies and brands how to improve; focus IPA educational and developmental resources; and inform additional content and other support to create continuous learning.
IPA director of marketing strategy and executive director EffWorks Janet Hull said: “Having an agenda around creating an effectiveness culture means that you have to look not just at what you are doing, but how you are doing it, and why.
“By having one embedded, the benefits are widespread: it aligns agency and client understanding; it strengthens the relationship between agencies and brand owners; it demonstrates the pivotal role of agencies in the success of brand owners; and on a macro-level, it drives prosperity and GDP growth.
“It also helps manage the issues around uncertainty that have pervaded our industry over the last year and enables a more agile mind-set and one that is more able to balance long and short term objectives.”
ISBA head of media effectiveness and performance Clare O’Brien added: “Tracking and measuring advertising and marketing effectiveness is gathering in complexity and is increasingly an organisational issue requiring a cultural response.
“Partnering with the IPA after its original Effectiveness Culture study to examine trends within organisations, provided great material for our marker members to widen their conversations with colleagues across the organisation.
“We are delighted now to support this new development which will provide brands with greater insight into how and where they can improve their effectiveness cultures.”
DMA opens databank to tackle campaign measurement
Decision Marketing at 10: Future of media effectiveness
Digital bobby-dazzlers put ROI and data quality in dark
Marketers plough budget into exploring new technology
Martech solutions are too complex for us, say marketers
Internal squabbles scupper marketing tech investments
Data issues continue to plague omnichannel marketing
Firms bogged down in data; clueless what to do with it