The “Best Content” series brings you a handful of the most thought-provoking and informative articles, reports and interviews related to B2B technology branding and marketing published over the last quarter, broken down into bite-size pieces for your convenience.
Tech Marketing Budgets to Increase 3.5% This Year
They say that you have to spend money to make money, but in marketing, budgets usually rise after revenues increase. And in tech, it’s been eight years since marketing budgets have kept pace with revenues. This year – finally – the two will be consistent: revenue will be up an average 3.7%, and marketing budgets will be up an average 3.5%. (As Ad Age points out, “last year, revenue at tech companies grew by 1.5%, and marketing budgets were down by 0.5%.) So this will be a big (and hopefully exciting) year for tech marketers as they prove the value of their efforts. Read more about the implications of rising budgets here.
CMO Paul Gottsegen on Marketing Data in Tech
Fifty percent of new CMOs are hired to fix marketing problems. Paul Gottsegen started as the Senior VP and Chief Marketing and Strategy Officer at Mindtree a year ago to do just that: “to rearchitect the marketing practice to concentrate more on actually affecting the company’s bottom line.” After all, what use is marketing if it doesn’t impact revenue? But when only 8% of CEOs rely on marketing data to make decisions, marketers might still often feel like their efforts are for naught. Gottsegen’s experience and advice can help marketers not only improve but prove their value within their companies. Read the interview here.
What the CIO/CMO Relationship Means for Tech Marketers
Over the past few years, tech products and services have become more accessible, and technically, marketers no longer need to go through IT to purchase, understand, and use them. But marketers going behind the backs of IT can cause tension. On the other hand, as this CMO.com article points out, “if the CIO/CMO relationship is healthy, there is a huge opportunity to combine the customer and market information the CMO needs to analyse with the in-depth IT knowledge of the CIO.” So tech marketers now have to speak to several (very different) audiences at once. Forging one brand that appeals to several audiences isn’t easy, but it’ll be good for them – by helping them make decisions and work together – and it’ll be good for your bottom line. Read more about the new CIO/CMO bond here.
What’s Airbnb’s Future as Millennials Move from Backpacks to Briefcases?
Tech evolves quickly, so many tech companies may be wary of planning for the longer-term. Airbnb’s recent rebrand shows they’re thinking farther ahead, though. The company got a logo and color scheme, but there was a lot more at play. Airbnb is maturing as it courts a new generation of business travelers: millennials. As eMarketer points out, though “the impact of Airbnb is limited today because the service is often used as an inexpensive lodging alternative for younger travelers,” those younger travelers will soon move into positions where they “dictate an ever-larger proportion of business spending.” Read more of eMarketer’s insights and statistics here.