Plannuh releases the Operational Marketing Index to help marketers assess the effectiveness of their marketing planning and budgeting processes
BOSTON, May 26, 2021 /PRNewswire/ -- Plannuh Inc., makers of the world's leading AI-Driven marketing leadership platform, today announced the first wave of results from the Operational Marketing Index (OMI), a survey used to measure the operational capabilities of a company's marketing planning and budgeting processes. The Operational Marketing Index also produces a set of tailored recommendations to help marketers improve their operational efficiency.
The Operational Marketing Index survey is comprised of:
- Sixteen multiple-choice questions
- Eight questions on marketing plan management - maximum score of 50
- Eight questions on marketing budget management - maximum score of 50
- Total OMI is a score out of 100: plan score plus budget score
- Questions are weighted based on their relative importance
- Results are benchmarked against all other respondents
Aggregated results from initial rounds of surveys completed:
- The sample size is 217
- The mean overall score is 45, and the median overall score is 44
- 14% of respondents scored above 70
The first chart shows the distribution of the overall scores.
The second and third charts show the answers to the 16 questions in the survey (8 marketing plan questions and 8 marketing budget questions). The pink represents positive responses from the top 2 boxes (excel and good), and the blue represents negative responses from the bottom two boxes (some and none).
One of the most alarming takeaways from the survey is that a minority of marketers (39%) are setting their marketing goals to achieve company objectives. If marketing goals are not aligned with company goals, they are unlikely to be considered valuable. Other interesting findings from the Operational Marketing Index:
- There is significant room for improvement in overall marketing planning and budgeting where the average score was below 56% for positive performance on all 16 questions
- 54% of respondents say team visibility of their marketing plan is inadequate or non-existent, and 65% say the same of their campaigns
- Operational marketing initiatives where marketers self-reported excelling:
- 28% of marketers excelled at knowing what budget was spent and what is available
- 26% of marketers allocate 60% or more of their budget to campaigns that support their goals
- 25% of marketers accurately reconcile expenses with finance regularly
- Operational marketing initiatives where marketers self-reported the greatest need for improvement:
- 38% of marketers do not identify and reallocate unused budget throughout the year
- 53% of marketers do not build best/worst case scenario-plans
- 31% of marketers do not accurately track expenses by marketing campaign and finance/GL code
- While top-performing companies performed well across the board in both planning and budget management metrics, they excelled in budget management. They also excelled in topics related to budget and plan execution. Conversely, the lowest-performing companies scored disproportionately poorly in budget management and plan execution.
"There are many scoring systems out there for tactical marketing activities, but there has been nothing available for marketers to measure the operational effectiveness of their marketing plans and budgets," said Peter Mahoney, founder and chief executive officer of Plannuh. "The Operational Marketing Index provides marketers with a measuring stick for their marketing plan and budget, while highlighting areas of improvement."
To get the full Operational Marketing Index report with key findings, visit https://info.plannuh.com/operational-marketing-index-report
To take the Operational Marketing Index survey, visit https://www.plannuh.com/operational-marketing-index, and each respondent receives a customized report with best-practice recommendations for improvement.
Marketers looking to align teams, optimize budgetary spend, and exceed organizational goals, use Plannuh, the first cloud-based Marketing Leadership Platform, to quickly and easily create winning plans, maximize budget impact, and improve ROI. Unlike disconnected, static spreadsheets and disparate tactical marketing systems, only Plannuh offers a unified, collaborative platform that delivers AI-driven recommendations, benchmarks, and process automation for achieving industry-leading marketing performance. Visit Plannuh to learn more.