Boosted by the return of confidence in their sector, new research indicates that marketers will take more risks in 2014 in order to get the best results for both their campaigns and company.
A new report from the Chartered Institute of Marketing (CIM) and Bloomberg suggests that risk aversion “has taken a back seat” and many marketing firms are going into 2014 with aggressive growth ambitions.
Only 41 per cent of the firms that responded to the pair’s Marketing Confidence Monitor said they were “above normal” levels of financial and economic uncertainty, while 50 per cent said growth has now become a key talking point around their organisation.
As reported by marketingweek.co.uk, 60 per cent of the companies were more optimistic about growth for the UK economy in 2014 and could use this as an excuse to be far more daring with their activity.
The results suggested that collaboration with other functions of the business will be “pivotal” to any growth in the year ahead, with IT, human resources and finance among some of the departments mentioned.
CIM’s Thomas Brown said next year would be an ideal time for businesses to set out a long-term strategy for their growth in order to safeguard their future.
He told marketingmagazine.co.uk: “As businesses look to ensure their readiness for a new year, we need to break out of this cycle of short-termism and look to elevate marketing investment with a view to driving growth, performance and more commercially-grounded business metrics.”