IDC Launches New Research Service on Information Technology Marketing Measurement and Effectiveness
FRAMINGHAM, MA – MARCH 11, 2003 – IDC today launched its new CMO Advisory Service, a research and advisory service designed to help information technology marketers improve the effectiveness and productivity of their marketing organizations. The new service, which will focus on technology marketing measurement, return on marketing investment (ROMI), and industry best practices, will be led by Rich Vancil, IDC’s recently hired vice president for Technology Marketing Research.
“The creation of the CMO Advisory Service was driven by IDC’s mandate to provide timely and relevant market research to its clients,” said Kirk Campbell, president and CEO of IDC. “Technology providers clearly need a better set of tools to measure and evaluate the effectiveness of their marketing programs.
IDC is in a unique position to collect data on IT marketing programs and to create a set of benchmarks for industry practices. The CMO Advisory Service represents another customized solution that will help IDC’s clients to succeed in an increasingly competitive industry.”
Preliminary results from a recent IDC survey of more than 90 senior technology marketers offers firm evidence of the need for marketing measurement and evaluation tools. Faced with the need to provide verifiable returns on their marketing investments, technology marketers have gravitated toward only those program elements offering quantifiable measures. Consequently, more tactical program elements, such as direct mail and Web marketing, have received budget increases over the past two years at the expense of strategic, brand-building elements, like advertising and events, whose effectiveness is not easily quantified.
Moreover, two thirds of the survey respondents indicated that their primary measure of marketing effectiveness is in fact a sales or sales-related metric. Those respondents that are using marketing program-specific measures tend to favor brand awareness or preference studies and simple media exposure measurements. Only two of the 90 companies IDC surveyed indicated that they use a comprehensive, integrated marketing metric, such as a multi-part balanced scorecard, to evaluate the results of their efforts.
“Technology marketers attuned to the industry’s new economic realities know that accountability and measurement are the keys to future budget growth,” said Rich Vancil, vice president of Technology Marketing Research at IDC. “Going forward, effective marketers will need a full set of measures that look at the internal, program-specific, and external results that will ultimately determine the success of a given marketing program. IDC’s goal is to help technology marketers to develop a framework for measurement and a clear set of industry benchmarks against which program results can be evaluated.”
Vancil has nearly 20 years of high technology marketing experience in market research and as a practicing Chief Marketing Officer (CMO). Prior to joining IDC, Vancil served as the vice president of marketing at Dataquest and Individual, Inc., and was the CMO at Tilion. He was also the chief operating officer (COO) at Shareholder.com.
IDC’s new CMO Advisory Service helps information technology marketers to plan, execute, and measure the effectiveness and productivity of their marketing programs. The service will provide clients with marketing measurement and best practice analyses, IT marketing trends and analysis reports, and custom research on IT marketing practices. The audience for the service includes senior marketing professionals and corporate executives at hardware and software companies worldwide.
For more information about IDC’s CMO Advisory Service, or to download the preliminary survey findings on IT marketing trends, please visit
http://www.idc.com/en_US/CMO_March03.pdf or call 800-343-4952 x6964.
IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC’s customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at www.idc.com.
IDC is a division of IDG, the world’s leading IT media, research, and exposition company.
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