New research indicates there is growing confidence among marketers that their brands will see improved performance over the coming year, reports ft.com.
In stark contrast with the negative overall economic forecast in the country, almost 40 per cent of advertisers surveyed by the Chartered Institute of Marketing (CIM) believe they will see better results at their company, while just one-fifth believe the opposite.
Nick Turner, a partner at Deloitte and head of its Marketing Effectiveness practice, suggested that marketing approaches have changed in recent times, as brands have struggled to justify certain brand-building activities that are more difficult to measure.
He said: “There is a clear paradox here between the growing optimism around business performance and the shift towards lower-risk and more tactical marketing strategies. There is always a need to balance delivery this year with long-term growth. However marketers’ confidence in their ability to measure short-term response-driven marketing may be at the cost of less tangible long-term brand building.”
Brand building is an important part of raising awareness of a company’s services – for franchise services this cost may be split between different outlets, while a conventional start-up would need to cover this expense itself.
According to marketing-confidence.com, the CIM survey was carried out between January 14th – February 8th but the results were only published on March 11th.