NEW YORK A tough economy is forcing marketers to defend their marketing, which is leading to less satisfaction with their agencies and even more emphasis on ROI, per two separate studies.
The studies were produced in tandem by the Verse Group and Jupiter Research and based on interviews in November with 101 marketers at companies with more than $250 million in annual sales. They show that the economy has already had a great effect how marketers do their job.
One study, which will be released later this month, reveals that agencies are seen as part of the problem. According to that study, 45 percent of CMOs say they are spending more time managing their agencies than just two years ago. Only 21 percent of respondents say they are getting the best work from their agencies.
While that report shows more friction with agencies, a report Verse and Jupiter released last month shows that 89 percent of CMOs say their marketing is under greater scrutiny because of the economy. Fifty percent of marketers say achieving ROI is their No. 1 priority.
“I would say that the ROI has always been there but it’s been ratcheted up,” said Randall Ringer, chief strategy officer for the Verse Group. “The first things that get cut are training and marketing.”