New research shows that the marketing sector is back on track for Post-COVID Recovery, despite poor expectations.
Sales and Marketing Sector
Despite poor expectations for the sales and marketing sectors due to the COVID pandemic, new research indicates that these sectors are set for a strong recovery in 2021. Earlier predictions from IPA Bellwether suggested that UK marketing budgets were due to fall at the fastest rate since the 2009 financial crisis. However, on a more optimistic note, new research from Print-Print suggests that the situation has not worsened as expected.
In the latest study, Print-Print looked at 1160 UK-based small business owners across November 2020 to assess the state of the marketing sector during the pandemic. They found that only a little over half ot eh companies surveyed had been forced to cut their marketing budgets during the outbreak, and 100% of companies retained all of their sales employees. According to the report, three quarters say that the pandemic has made marketing a greater priority for the organisation, while more than 80% say they are optimistic for the future.
Better than Expected
The most likely reason for these positive outcomes is that not all sales and marketing activities have been negatively affected by the crisis. For example, although 80% of respondents believe that face-to-face marketing has suffered during the pandemic, only 6% say the same for online marketing. In fact, it is the exact opposite. As people are spending more and more time absorbing digital content, online marketing has become more lucrative than ever before.
Online Marketing Efforts
The results of the study show that 87% of small businesses have focused more on online marketing efforts this year, with special focus on social media, content marketing and email communications. 12.5% of small companies have increased their use of print marketing, suggesting that companies can extend their reach by delivering more brochures and leaflets whilst employees are working from home.
The Future of Marketing
In terms of recovery, Print-Print reports that nearly 70% of small businesses are ready to start investing in marketing again, with more than half planning to drive 100% of their pre-pandemic budget back into promotional activities. Nearly all say that they are planning to increase marketing budgets next year.
Print-Print Director Dean Williams said, “The results were nowhere near as doom or gloom as had initially been anticipated. Of course, many, many organisations have struggled through the pandemic, but our research shows that almost 50% have been able to retain their marketing budgets which really is very positive news, and it’s a strong sign that the industry is set for a strong recovery in 2021.”