"The main culprit is the economy," wrote Rich Vancil, VP of IDC Executive Advisory Strategies, in a recent blog post. "Management teams are not willing to spend until better signs of demand pick up. The second factor is media shift: Going-to-market with digital vs. traditional media."
Tech marketing budgets hit a low point in 2009, falling 8.3% in the wake of the financial crisis. In 2010, tech marketing budgets increased 3.7% over the previous year, and then rose 3.5% in 2011.
Below, additional findings from IDC's 2012 CMO Tech Marketing Benchmark Study, based on a survey of 91 tech companies conducted from May to August, 2012.
Take the first step (it's free).
You may also like:
- Marketing Events in a Post-Pandemic World: Opportunities for Innovation
- Digital Transformation During COVID-19: How Can Marketers Lead the Way?
- What B2B Buyers Want From Tech Vendors Right Now
- Five Ways to Keep Marketing Even If Your Marketing Budget Is Quarantined
- B2B Decision-Maker Survey: COVID-19's Impact on Marketing, Buying, and Sales