More than 50% of companies rare their marketing measurement capacity as ‘no-existent' or ‘basic' according to a survey conducted by the Chartered Institute of Marketing and Deloitte.

The survey also revealed that 19% of companies stated that they never established clear accountability for strategic marketing initiatives and less than 10% of organisations 'always' set clear KPIs for marketing initiatives

With many small businesses still finding trading conditions difficult, the survey has highlighted the need for all small companies to measure their effects of their marketing spend.

"It's concerning to see that even after the resource constraints of an economic downturn, many marketers are still not fully embracing the rigour and accountability that their businesses demand of them," said David Thorp, director of research and professional development at The Chartered Institute of Marketing.

"As we now plan for growth, managers must put more effort into establishing true accountability for customer investments - at this halfway point, we would urge all marketers facing budget scrutiny to complete this benchmark survey to help identify how they can respond."