The International Data Corporation (IDC) Executive Advisory Group forecasts that IT vendor marketing budgets will increase by 3.7% and vendor sales budgets (investment) will rise by 5.6% for the full year 2010.
Richard Vancil, vice president of IDC's Executive Advisory Group noted some key trends and offered guidance for the tech executives. "The recession has brought major changes to the level and shape of marketing investment. At the macro level, overall investment is likely to lag revenue growth this year and this is the first 'watch-out' for executives, as our research consistently shows that marketing leaders tend to keep budgets in-line with revenue growth. The second factor is the major shift in the shape of the marketing mix. Traditional media spending has declined by 43% this year, and the category of digital marketing has grown by 53%.
"These shifts were expected and our forecast accuracy from earlier this year was excellent. Now, the question for marketing and marketing-operations executives is: How do we adjust our execution and processes to adapt? IDC suggests two key steps. First, seek process improvement to address the complexity of multi-path marketing. Think about separate process paths for Waterfall versus Agile execution. Second, look for processes that will improve the capability for personalized marketing. It is counter-intuitive, but consolidation and centralization of marketing processes and IT will precede the ability to de-centralize and personalize. The top marketers are putting more intelligence and process in place at corporate to make this happen."
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