Ireland identifies economic value of marketing

In January, Association of Advertisers in Ireland (AAI) and local marcom group Core Media released the Marketing Multiplied report, which outlines the macroeconomic and microeconomic impact of marketing in Ireland and beyond.

Building on global economic literature, the report found that advertising is a major engine for growth, contributing nearly six million jobs across the EU and driving 4.6% of total EU GDP, as cited from the Value of Advertising report. "A strong economy requires a vibrant marketing industry", Barry Dooley, CEO of AAI, wrote in the foreword.



The report also found that:

• Creatively-awarded campaigns are six times more effective than non-awarded campaigns in growing market share;


• Loyalty programmes have very little long-term effect, with the recruitment of new customers being more profitable;


• Brand size has a significant impact on marketing effectiveness, with large brands having an inherent advantage over smaller brands;


• Emotionally-based campaigns outperform rationally-based campaigns on every scale;


• Long-term campaigns are three times more effective than short-term campaigns. The report recommends marketers to spend 60% of their budget on long-term brand-building activity and 40% on short-term sales activation to achieve maximum efficiency and effectiveness.

You can find out more about the report here.

To get a copy of the report or for more information, contact AAI.