BearingPoint and Wipro Technologies Receive First IDC CMO Best Practices Awards for Marketing Measurement and Metrics
FRAMINGHAM, MA – DECEMBER 18, 2003 – The IDC CMO Advisory Service today announced that BearingPoint and Wipro Technologies are the recipients of the first IDC CMO Best Practices awards for Marketing Measurement and Metrics. Their entries, outlining best practices for measuring the impact of their marketing programs, were selected as the winning entries by the CMO Advisory Panel from technology marketing vendors across the IT software, hardware and services sectors.
“IDC congratulates BearingPoint and Wipro Technologies and extends our gratitude for sharing their outstanding marketing practices”, said Rich Vancil, vice president of IDC’s CMO Advisory Research Service. “These awards are designed to help technology marketing executives to more effectively deploy their marketing programs by providing insights from the successful practices of their peers. IDC is excited to be the conduit to exchange marketing best practices and looks forward to publishing the BearingPoint and Wipro Technologies entries as part of the CMO Advisory service.” The Marketing Measurement Best Practices case studies will be published in January 2004.
The winning entry from McLean, Va.-based BearingPoint, one of the largest business consulting and systems integration firms, outlines an Integrated Marketing Scorecard that rolls results up into an overall marketing score, yet easily allows senior management to drill down for details. This dynamic scorecard incorporates a set of metrics across pre-defined categories in alignment with evolving corporate priorities so that it is responsive to changes in the business. It also employs both hard and soft metrics from internal and external sources to give a true picture of marketing effectiveness. “A well-researched, thoroughly documented, and relevant scorecard system that reflects real internal commitment and multi-disciplinary participation” said Donovan Neale-May, from the IDC CMO Advisory Panel. “This provides a great example of thinking ‘globally’ about marketing best practices in a large organization,” added panelist Jonathan Angel.
Wipro Technologies, a global IT services and consulting organization, outlined their Integrated Lead Generation [ILG] program – a closed-loop demand generation strategy – to support their organization’s ambitious growth rates. Through strong processes and systems giving a 360-degree view of the customer, ILG synergistically leverages various pull and push mediums to move customers closer to purchase and loyalty. The program has paid rich dividends to Wipro – including extended branch reach, increased business leads and lead conversions, shorter sales cycles and a high return on marketing investment. “This approach has superior fit with Wipro’s business model and market position,” said Geoffrey Moore of the IDC CMO Advisory Panel. “Impressive…quantifiable and able to be replicated”, added panelist Frank Cutitta.
The IDC CMO Advisory Panel is an independent and external body of judges that provides objectivity to the review process. Judges are provided with a ranking system that focuses on quantifiable business results. Published case studies will also be analyzed in the context of IDC’s Tech Marketing Benchmarks Database to compare marketing effectiveness versus the Key Performance Indicators established by IDC based on overall industry averages, including Marketing Budget Ratios, Marketing Productivity, Program-to-People efficiency and a number of other performance metrics.
The CMO Advisory Panel is comprised of a group of technology marketing luminaries including Geoffrey Moore, managing director with TCG Advisors and founder of The Chasm Group; Donovan Neale-May, executive director of the Chief Marketing Officer (CMO) Council and managing partner of Global Fluency; Frank Cutitta, CEO of the International Advertising Association; and Jonathan Angel, senior editor of ADWEEK’s Technology Marketing magazine.
IDC’s CMO Advisory Service is currently accepting new nominations for upcoming Best Practices reviews. Aligning Marketing with Sales category nominations are due January 31, 2004. The winners in this category will be announced in March 2004. Cost Control and Outsourcing category nominations are due March 31, 2004 with the winners to be announced in May.
Winning Best Practices entries will have their case studies published within IDC’s CMO Advisory Service. All companies that provide a Best Practices entry will also receive a copy of the winning case study publication.
For more information about IDC’s CMO Advisory Service and Best Practices research, including award category descriptions and nomination details, contact Louise Revers at 508-988-6915 or email@example.com.
IDC is the premier global market intelligence and advisory firm in the information technology and telecommunications industries. We analyze and predict technology trends so that our clients can make strategic, fact-based decisions on IT purchases and business strategy. Over 700 IDC analysts in 50 countries provide local expertise and insights on technology markets. Business executives and IT managers have relied for 40 years on our advice to make decisions that contribute to the success of their organizations.
IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. Additional information can be found at www.idc.com.
# # #