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July, 2024

The three-speed marketing economy: Time to broaden core capabilities, build flexibility – fast

As we interrogate the inaugural series benchmarking marketing across a broad range of areas – budget settings, measurement and KPIs and marketing’s reputation inside organisations among them – it’s clear we are witnessing a rather nuanced outlook with a three-speed economy emerging around marketing budgets.

With roughly a third of businesses each either holding, cutting or increasing their marketing investments, the 2025 financial year demands fast flexibility, foresight, and a commitment to equipping marketers with the right tools and skills to address the shifts that we see well underway at present.

In today’s market, diversity reigns not only in consumer preferences but also in how organisations allocate their marketing resources – it underscores the critical need for marketing teams to recalibrate their strategies dynamically, ensuring they remain responsive to market shifts and opportunities.

Shifting KPIs, strategic imperatives

The data shows notable transformation has emerged in the area of marketing’s Key Performance Indicators (KPIs). Customer Lifetime Value (CLV) has quickly elevated to paramount metric, signalling a broader industry pivot towards sustained customer relationships and long-term profitability. While traditional metrics like Net Promoter Score (NPS) recede in prominence, it’s telling that “brand equity” retains its foundational role, viewed as both a leading indicator and a predictor of future success. Simultaneously, overarching revenue goals and markers of customer retention and market share ascend as primary KPIs which reflect a strategic shift towards holistic growth strategies.

Future-proofing marketers

At the heart of these shifts lies the capability and preparedness of marketing teams. This Marketing & Customer Benchmarks study underscores a critical gap: just 34 per cent of respondents believe their teams have the essential skills required for future challenges. Strategic planning, brand management and performance analytics emerge as pivotal areas demanding immediate attention. The Australian Marketing Institute, through our AMI Competencies Framework, is designed precisely to bridge this gap, equipping marketers with the 25 core competencies essential for contemporary success.

Board and CEO priorities: critical growth focus

A significant revelation from our benchmarks study is the elevated importance of marketing in boardrooms and among CEOs. Of the 105 companies which contributed to this report, 83 per cent of marketers say their organisations recognise marketing as a critical function for business success.

Without question this will vary, depending on the organisation but the belief by marketers that their business understands marketing’s role and contribution highlights an important shift – marketing is not merely a support function but a strategic imperative driving organisational growth and competitiveness. Marketers must tap this recognition to align their strategies with overarching business goals and prove business value through innovative campaigns, a customer focus, data-driven insights and measurable outcomes.

Get better, faster

As we navigate this landscape of complexity, the Australian Marketing Institute has doubled down on our remit to build marketing excellence. Our members – individuals and corporates – benefit from access to cutting-edge insights, up-todate competencies and a vibrant community dedicated to elevating the practice of marketing.

As CEO of the Australian Marketing Institute, I invite all marketers to harness the power of knowledge, innovation and collaboration to define the future of marketing excellence and strategy. We can together lead our organisations and teams toward a future where great brands are indeed grown by great marketers.


Bronwyn Heys
CEO- Australian Marketing Institute


Download the FY2025 Marketing & Customer Benchmarks report >

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