New IDC Tech Marketing Barometer Study Finds Marketers Are Optimistic About Budget Growth – Led by 3rd Platform Companies
FRAMINGHAM, Mass., April 23, 2014 – In a recent survey of senior marketers at technology companies, International Data Corporation's (IDC) CMO Advisory Service found that two-thirds are expecting budget increases for 2014. Additionally, IDC forecasts that marketing budgets within the technology industry will increase 1.5-2.5% overall in 2014. Third Platform companies – those with revenue primarily from cloud, social, mobile, and Big Data and analytics technologies – will see marketing budget increases that are six times greater than the rest of the industry, increasing their marketing spending between 8 and 12%.
Despite the projected gains, the average marketing budget increase is still less than half the surveyed companies' projected revenue increase of 4.6%.
"IDC consistently observes that marketing budgets track closely to revenue momentum. As such, IDC has seen that as 3rd Platform companies gain revenue, the marketing budgets for those vendors have also increased," said Sam Melnick, Research Analyst, IDC CMO Advisory Service. "However, in the majority of legacy, 2nd Platform companies, marketing budgets have remained stagnant. 2nd Platform vendors must identify their high growth areas and aggressively invest budget to support them or risk being left behind."
IDC finds that senior tech marketers, in general, continue to demonstrate a greater sense of optimism about their budgets than in earlier years. In 2013, IDC's Tech Marketing Benchmark study showed that more companies increased marketing budget than lowered or maintained budgets. The 2014 Barometer study indicates that this trend will continue.
IDC's 2014 Tech Marketing Barometer Study (Document #248110) was recently completed by IDC's CMO Advisory Service and seeks to capture the pulse of marketing executives in the technology sector and gauge the direction of marketing resource expenditures and priorities during the next six to nine months.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. In 2014, IDC celebrates its 50th anniversary of providing strategic insights to help clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.