Greater sophistication in investment management, which is enabled by better processes and greater availability of MRM applications, may include tracking marketing investment along one or more of the following criteria: (to name a few)
- Customer size (e.g., named accounts, enterprise, large, medium, small, consumer);
- Product and/or solution;
- Existing, more mature business areas or product lines vs. newer, higher growth business areas or product lines; and/or
- Low growth vs. high growth regions and/or countries.
About 60% to 70% of technology companies manage their marketing investment along one or more of these areas. [IDC CMO Advisory Practice Tech Mktg. Benchmarks Database] For example:
- tech companies invest on average 60% of their marketing budget on existing, more mature business areas or product lines with the remaining budget allocated to newer, higher growth business areas or product lines; and
- tech companies invest on average 52% of their marketing budget to low growth regions and/or countries with the remainder to high growth areas.
Yes, we've made some progress in tracking our marketing investment. This has certainly put us in a better position to manage our investment and improve our credibility with the CEO, CFO and sales peers. But we still have quite a distance to go; especially in making the connection between this investment and the subsequent return. (e.g., increased awareness, greater engagement, increased number of leads, high velocity through the pipeline)