The Truth About Aerospace Marketing
Many aerospace companies view the corporate marketing department as a necessary evil. Too often, marketing is not considered an integral part of the business. It’s a cost, not an investment.
And the truth is, marketers have hard been pressed to prove otherwise. Until now.
Data — the holy grail of aerospace — has never been more accessible. Today, marketers have varied tools, primarily digital, to collect, analyze and use data to make informed decisions, ultimately linking marketing spend with business outcomes.
So why aren’t we doing it? Let’s find out.
We’re Not Alone
Earlier this year, the Columbia Business School’s Center on Global Brand Leadership and the New York American Marketing Association surveyed corporate marketing decision makers to better understand data collection and usage, marketing measurement and ROI, and the integration of digital and traditional marketing.
The bottom line? Researchers identified a significant gap between “desire and execution” as companies work toward measuring marketing ROI. Not surprisingly, those results are consistent with what we found in a survey that we sent out earlier this year. It focused entirely on marketers working in aerospace and defense companies large and small.
We’ve summarized the survey highlights here. Complete and objective survey results are also available starting on page 3.
The Plan – More than 85% of respondents say they develop marketing plans, either as a group or individually with the support of others. For developing those plans, financial goals and knowledge of the marketplace are considered “very important,” in equal measure, by nearly every respondent (95%). 70% rated marketing goals (leads, media coverage, web hits, etc.) as very important.
Are measurable metrics a part of your plan?
Who’s helping? – Half of respondents say their media vendors have no involvement in developing the company’s marketing plan. But 45% say creative vendors have critical or significant involvement. On the other hand, over 50% believe media vendors should be responsible for measuring performance, with or without set goals, and 60% say creative services vendors should have the responsibility.
Would you be inclined to pay more for a vendor that measures performance if you could see the results?