August 17, 2010
In our recent survey of shopping centre managers, we found that 80% of shopping centres were commissioning advertising to promote themselves. What surprised us was that only 50% of shopping centres were measuring how effective their advertising was.
Marketing budgets can be enormous, with huge TV ad campaigns, but without market research it is impossible to tell if your message is getting to the right people and if it is influencing their behaviour.
Lord Leverhulme famously said, “Half the money I spend on advertising is wasted, and the problem is I do not know which half.” Without this type of feedback on marketing campaigns some shopping centres will never know.
August 3, 2010
It’s good to see ITV back in the black, benefitting from a general increase in advertising spend. As the economy has been recovering, firms are reinvesting in their marketing budgets, but are very much conscious of getting value for money.
We at Business Blueprints offer an independent assessment of how effective marketing campaigns are. A clear indication of the penetration, awareness and relevance of a campaign that is not prejudiced by self-interest, gives you the information you need to judge the performance of your marketing budgets.
In a recent survey, we found that whilst 8-out-of-10 respondents were spending money on advertising, only 50% were conducting any research about the effect of their advertising, and only 35% were getting any customer feedback at all.