Tech Marketing’s Expanding Role: More from IDC’s 2019 Investment Benchmark Survey
Posted: Sat Dec 28, 2024 9:40 am
IDC CMO Advisory Service has published results from its 17th annual Tech Marketing Investment Benchmark survey. Investment patterns provide evidence for marketing’s expanding role.
Technology buyers now use marketing-related information sources (digital and social) over sales at every stage of their decision-journey, according to IDC’s IT Buyer Experience survey. Even at the purchase stage, buyers registered nurse database use these information sources 69% more often than they turn to sales. It’s no longer enough to simply use digital to conduct traditional marketing better. IDC finds that marketing is shouldering pipeline building tasks that used to be in sales and moving into post-purchase realms to affect overall customer experience.
Key Finding: Marketing Gets a Budget Boost
Marketing budgets among the 54 technology companies surveyed increased by an average of 8.9% in 2019. Those same companies also expect a revenue increase of 6% for the same period. Tech marketing budgets have grown every year since 2014, but IDC finds that in 2019 marketers experienced one of the best growth years ever. Two-thirds of the companies in the survey grew budgets. In 2019, the average tech company’s marketing budget is 2.6% of revenue. However, this percentage varies by company size, sector, sales model, and growth and can be significantly larger.
Technology buyers now use marketing-related information sources (digital and social) over sales at every stage of their decision-journey, according to IDC’s IT Buyer Experience survey. Even at the purchase stage, buyers registered nurse database use these information sources 69% more often than they turn to sales. It’s no longer enough to simply use digital to conduct traditional marketing better. IDC finds that marketing is shouldering pipeline building tasks that used to be in sales and moving into post-purchase realms to affect overall customer experience.
Key Finding: Marketing Gets a Budget Boost
Marketing budgets among the 54 technology companies surveyed increased by an average of 8.9% in 2019. Those same companies also expect a revenue increase of 6% for the same period. Tech marketing budgets have grown every year since 2014, but IDC finds that in 2019 marketers experienced one of the best growth years ever. Two-thirds of the companies in the survey grew budgets. In 2019, the average tech company’s marketing budget is 2.6% of revenue. However, this percentage varies by company size, sector, sales model, and growth and can be significantly larger.