Tech marketers set to increase budgets in 2008

Technology marketers will be increasing their marketing budgets this year although at a slower pace than last year due to a faltering economy, new industry forecasts suggest.

According to IDC’s 2008 Tech Marketing Benchmark study of over 80 senior marketers at technology companies, tech professionals will increase their budgets by 3.5 per cent.

This figure is down from the four per cent growth rate predicted by IDC earlier this year and down from the 6.1 per cent increase in marketing spending by tech companies last year.

The study also found that global IT spending will increase by 5.5 per cent this year, down from a 7.1 per cent increase last year compared to 2006.

Michael Gerard, vice president of research at IDC’s CMO Advisory Practice, told B to B magazine: “Marketing continues to receive its share of pain as a result of market pressures.

“In addition to short-term budget cuts, a period is being ushered in of more sweeping marketing organisational change. Staffing levels continue to be under pressure and companies are shifting to new staff roles to help increase efficiency and effectiveness.”