The Chartered Institute of Marketing (CIM) polled 108 chief marketing officers, marketing directors and communications directors from companies across a wide range of sectors with at least 500 employees, and a turnover of at least £250m and report their findings.
Many senior marketers are confident that leaving the European Union (EU) will open up new opportunities for their business. According to the survey half of UK-based marketers see Brexit as an opportunity, while only a quarter believe it poses a threat.
In addition, 38 per cent of respondents are confident marketing budgets will go up when the UK leaves the EU, with just 22 per cent saying they expect budgets to be cut.
However, the survey indicated that many marketers are still not entirely comfortable using tangible data to demonstrate how their work impacts on the wider business.
Indeed, less than half were comfortable using metrics to outline how marketing affects their company’s revenue growth.
Similarly, only 45 per cent felt able to use metrics to demonstrate their impact on brand reputation.
Furthermore, just 41 per cent were comfortable using data to highlight how it has affected the customer experience and engagement.
This could be a critical area for marketers in the future, as the CIM study found the requirement to report on their success using tangible metrics is increasing.
Some 57 per cent of those polled said they are expected to report to senior management more frequently today than they were two years ago.
Marketing leaders see Brexit as an opportunity not a threat, Campaign Live