This IDC Perspective offers CMOs and their C-suite colleagues practical information on the financial and market-driven considerations for marketing budgets in this digital era. Tech companies significantly grew their marketing budgets in 2016 and 2017. But what is the right marketing budget for a specific company? As customers increasingly demonstrate their preference for engaging through digital channels, ensuring sufficient investment could be a make-or-break decision.
"Based on insights gleaned from 15 years of IDC's Tech Marketing Benchmark Survey, IDC finds that a combination of four factors — competitive sector, company size, sales model, and revenue growth — can provide the most effective and accurate direction," says Kathleen Schaub, vice president of the CMO Advisory and Customer Experience practices. "Marketing shapes the future. Any company that cares about revenue growth or customer experience must take a fresh look at its budget strategy."