First ever Marketers Confidence Index
reveals Canadian marketers’ confidence
slow to recover after the recession
Toronto, July 8, 2010 – With the Canadian economy making strides in recovery, it would stand to reason that there would be renewed optimism and activity in the business world. But results from the first-ever Marketing Confidence Index, measured in conjunction with the Gauge Report, an annual survey of marketing professionals, have revealed otherwise.
Overall, Canadian marketers measured 45 per cent, a level of confidence that is consistent with the general mood of Canadian marketers, as reflected in the Index. Only a modest percentage (40 per cent) increased their marketing budgets this year, even though 62 per cent said they felt that 2010 was a good year for companies to invest in marketing activity. Most marketers agree that the time is right to catch the upswing in the marketplace, but many are not following up those instincts with action.
“Knowledge drives confidence, and confidence, in turn, drives success,” says Brett Marchand, president and COO of Cossette. 
“Confident marketers capitalize on emerging trends, leverage metrics and aren’t afraid to adopt a decisive mindset that propels bold action.”
In this era of unprecedented technological advancement, instability in the marketplace and erratic consumer spending habits, the Gauge Report provides a forum for marketing decision makers to share ideas and benchmark industry activity to help foster innovation and steer informed decision making.
The profile of a highly confident marketer emerging from the Gauge Report confirms that confidence is a critical factor is results-oriented business decisions. Those marketers who were characterized as either very confident (9 per cent) or confident (23 per cent) are also decisive and prepared to take actionable steps that lead to success. One of those steps is increasing their marketing budgets, which 64 per cent of marketers indicated they were planning on doing this year, and 84 per cent indicated they had plans to do so in 2011.
“Confidence matters; and that’s why an index that measures it on an on-going basis is so important,” says Jules Diamond, president of IMI International. “The Gauge Marketing Confidence Index allows marketers to benchmark the confidence of their own organizations to help foster effective decision making.”
Lack of confidence, on the other hand, results in missed opportunities to engage with target consumers. For example, most companies understand that social and mobile media are effective ways to tap into a robust client base, but many aren’t clicking in. More than 59 per cent of confident marketers are more apt to incorporate digital media in their overall marketing plans, compared to 30 per cent of non-confident marketers.
Many marketers might instinctively know that now is a good time to invest but concerns over the economy, fragmentation in the media landscape, rapidly evolving technological trends and changing consumer spending behaviour can leave them confused and indecisive.
“If knowledge is power, Canadian marketers now have the resource they need to help them make definitive decisions in spite of uncertainties in the marketplace,” adds Marchand. “And we all know that confidence matters. Not just to the marketing industry, but the entire marketplace.
An initiative of Cossette and IMI International, the Gauge Report is an annual summary of research into areas of current interest to Canadian marketing and business executives. It provides insight to promote dialogue in the marketing industry with the end goal of delivering programs with market appeal.
About Cossette
Cossette Inc. offers a full range of leading-edge communication services to clients of all sizes, including some of the most prestigious brands in the world. A customer-driven organization built around highly specialized business units, Cossette also offers Convergent Communications(TM), a unique working method that brings added value to the client by integrating various services offered by the Group, including strategic planning and research, advertising, media buying and channel planning, sales promotion, direct response, database and direct marketing, customer relationship management, interactive marketing and technology solutions, public relations, organizational communication and change management, sponsorship and alliance marketing, branding and design, ethnic marketing, business-to-business communications (B2B practices) and print and video production. Cossette has approximately 1,485 employees and offices in Quebec City, Montreal, Toronto, Vancouver, Halifax, New York, Irvine, Los Angeles, London and Shanghai.
About IMI International
IMI International is a full-service marketing consultancy, leveraging consumer marketing research, to optimize all types of brand activations. For 40 years, IMI International has served as a strategic partner to our Fortune 500 clients, developing best practice principles based on over 10,000 marketing evaluations. IMI International is globally recognized for its work in the pre- and post-evaluation of consumer marketing efforts and has developed proprietary consumer research methodologies and success thresholds that serve to improve our clients’ return on marketing investment. Headquartered in Toronto, Canada, IMI International also hosts offices in Phoenix, United States; Melbourne, Australia and London, United Kingdom.
Please contact Tim Bishop with any questions or comments and to receive a complimentary copy of the 2010 Gauge Report. Phone 416-440-0310 ext 341 or 1-800-784-5757 ext 341 or email at tbishop@consultIMI.com.
Tags: Brand Activation, Brand Marketers, Confidence Index, Gauge, Insights, Jules Diamond, Measurement, Media Coverage, Strategy, Syndicated Marketing Research, Tim Bishop, Toronto Conference, Turbulent Times