1、COVID-19 MARKETING OUTLOOK COVID-19 MARKETING OUTLOOK | 2 TABLE OF CONTENTS INTRODUCTION .3 EXECUTIVE SUMMARY .4-5 BUDGETS .6-10 CHANNELS .11-12 METRICS .13 CONTENT. 14 SOCIAL MEDIA .15-18 CUSTOMER EXPERIENCE . 19 TACTICS . 20 ABOUT THE RESPONDENTS . 21 METHODOLOGY .21-26 COVID-19 MARKETING OUTLOOK

2、| 3 INTRODUCTION The COVID-19 pandemic has upended the marketing industry as we know it. In the face of what feels like crisis after crisis in recent months, marketing professionals have been tasked with adjusting to a new normal characterized by all-virtual interaction, economic uncertainty and the

3、 hyper scrutiny of brand values. Navigating a public health crisis of this magnitude has left the industry searching for ways to remain relevant and continue business as usual. But, of course, its anything but that. To better quantify the impact of the pandemic on the industry, Chief Marketer set ou

4、t to answer some of the questions marketers have been asking most during this time of upheaval. As live events eliminated the prospect of interacting with consumers and cultivating business leads, where have marketers turned to engage with customers and prospects? How have marketing budgets been aff

5、ected as a result of consumer purchasing power being driven exclusively online and reduced? What types of content and messaging are marketers relying on during the pandemic? We surveyed Fortune 1000 marketers from a wide range of companies and verticals at the start of the pandemic and again in the

6、midst of the fallout. The following research attempts to answer some of those questions while uncovering some actionable insights pertaining to social media marketing, funding allocations and more. We hope that these insights provide some of the data, analysis and perspective needed to craft your fu

7、ture marketing plans for the remainder of 2020 and beyond. Thank you to our readers, and especially to the survey respondents who took the time out of their hectic schedules to share their thoughts. Kaylee Hultgren Group Content Manager COVID-19 MARKETING OUTLOOK | 4 EXECUTIVE SUMMARY EXECUTIVE SUMM

8、ARY The marketing industry has experienced unprecedented disruption since the onset of the COVID-19 global pandemic. Most marketers have been forced to pivot, improvise and innovate while the business world adapts to new consumer purchasing behaviors, social distancing mandates, fluctuating economic

9、 circumstances and sobering public health scenarios. To thriveor simply survivewithin these new circumstances has required a radical rethinking of marketing budgets, customer experiences, content creation, virtual engagement and much morein a very short period of time. To pinpoint what aspects of ma

10、rketing have shifted as a result of COVID-19, Chief Marketer surveyed our readership in two waves: first, in February and early March, as the potential effects of COVID-19 were just beginning to appear; and again in late April and early May, when the pandemics effects were in full swing. The data re

11、vealed some intuitive and surprising insights, from the decline of marketing budgets to the rise of virtual events to the increased reliance on social media for both engagement and conversions. Heres a snapshot of some of the key findings: BUDGET DECLINES Survey data revealed that budgets were drama

12、tically affected by COVID-19. In fact, the number of marketers who said their budgets were increasing in 2020 dropped by 30 percent, from 37 percent in February to seven percent in April and May. Moreover, compared to the first wave, many more marketers surveyed in April and May said their budgets w

13、ere decreasing from 14 percent pre-COVID-19 to 55 percent just two months later. “We have cut all non- essential spending to include our marketing dollars,” according to one respondent. “We havent bought any media or planned at all for our upcoming season of events,” said another. “Its all email, so

14、cial posts and web-based. Were not allowed to spend any money the rest of our fiscal year, until June 30,” according to a third. VIRTUAL EVENTS Prior to COVID-19, the marketing categories requiring the most spend were content marketing, events and paid advertising, according to the surveys. Post-COV

15、ID-19, content marketing and paid advertising continued to require the most spend, but event spending dropped significantly among marketers from 41 percent to 22 percent of marketers ranking events in their top three spending categories. However, when respondents were asked where they were reallocat

16、ing live event spend, nearly half of B2C marketers (44 percent) and more than half of B2B marketers (64 percent) said they were allocating live event spend to virtual events. This points to a major trend within the post- COVID-19 era: virtual engagement. “We have shifted from a heavy emphasis on liv

17、e experiential events (consumers, press, etc.) to digital. Naturally, event budgets have also slightly decreased due to the uncertainty and the current shelter-in-place restrictions,” said one respondent. “Dollars are shifting to accommodate new initiatives brought on by COVID-19. For instance, inve

18、sting in more platform tools to support virtual events,” said another. For many, the absence of live events has required a complete retooling and an adoption of virtual engagement. “We had to completely overhaul our business model from live shows and in-person storytelling workshops to an all- virtu

19、al model,” according to one marketer. FUNDING ALLOCATIONS AND UNCERTAINTY When examining which budget categories would receive more funding in 2020 compared to the year prior, there was consistency between the two waves. Content marketing, paid advertising and SEO were the top three choices for both

20、 time periods. However, Martech spending declined from 17 percent of marketers COVID-19 MARKETING OUTLOOK | 5 placing it in their top three to just eight percent post-COVID-19. Moreover, 25 percent of marketers surveyed in the second wave said they were not certain which line items would receive mor

21、e spend in 2020. It is significant that a quarter of marketers surveyed post-COVID-19 were unsure of where and how to spend their budgets. One respondent described the challenging situation as “paralysis,” adding that “decisions are on hold and theres an absence of top-down direction given business

22、uncertainty. Further, theres a reticence to invest in brand-building activities. Finally, theres a rush to figure out how best to deploy digital solutions to engage customers,” the person said. “Frozen, if I can use a movie name to describe the current plan,” was anothers cheeky response. SOURCES OF

23、 ROI Despite budget shifts, new strategies and business models, when it came to return-on- investment, content marketing remained one of the most effective aspects of marketers budgets. The ROI for events decreased from 33 percent pre-COVID-19 to 21 percent post-COVID-19, as one might expect. But on

24、e categorys ROI increased significantly: Influencer marketing jumped from nine percent of marketers placing it in their top three during the first wave to 22 percent in the second. Indeed, while content studios were closed and production halted in the midst of the pandemic, some brands have relied o

25、n influencers to deliver content to consumers via digital platforms. “Social media engagement has spiked, influencer partnerships have developed and our overall marketing plan has completely shifted from in-person to digital opportunities,” said one respondent. METRICS THAT MATTER When it comes to m

26、etrics that matter most for marketers, survey data indicated that the customer experience metric increased considerably post-COVID-19, from 29 percent of marketers in the first wave to 48 percent. Out of necessity, online purchasing has dramatically increased during the pandemic, a fact that could p

27、oint to the increased importance of the customer experience. In the absence of in-person interaction, brands marketing abilities have been largely limited to online- only channels. Following that logic, the metrics for time spent on brands websites, shares, comments and content shared also increased

28、 post-COVID-19. SOCIAL MEDIA USE Social media marketing has risen in importance during the pandemic. LinkedIn, Facebook and Instagram were the most effective social media channels for marketers both before and after COVID-19, with Twitter and Instagram experiencing the largest increases. But while b

29、oth surveys indicated that marketing handles the majority of social media management, there was an uptick in the number of marketers who are using a dedicated social media team in the post-COVID-19 era. This points to a growing need for more digital and social media skills in marketing organizations

30、 moving forward. For several respondents, social media marketing initiatives and providing updates to services were the primary means of communication during the post-COVID-19 wave. And when looking at what marketing tactics will be relied on more on in 2020 and beyond, 65 percent of marketers place

31、d social media in their top threethe highest ranked tactic in the post-COVID-19 wave. In terms of challenges, creating content that resonates during the pandemic was one of the greatest obstacles, with 45 percent of marketers ranking it in their top three, suggesting that pandemic messaging and mark

32、eting remains a challenge in our current environment. EXECUTIVE SUMMARY COVID-19 MARKETING OUTLOOK | 6 FOR 2020, YOUR MARKETING BUDGET IS: PRE-COVID-19POST-COVID-19 TAKEAWAYS: *After COVID-19, there was a 30 percent drop in the number of marketers who said their budgets were increasing in 2020, a de

33、cline from 37 percent to seven percent. The number of marketers decreasing budgets spiked 41 percentage points in, from 14 percent pre-COVID-19 to 55 percent. *For B2B marketers specifically, the decrease was even more pronounced, with 64 percent saying that budgets were decreasing. *For B2C markete

34、rs after COVID-19, 21 percent did not know whether their budgets were increasing or decreasing, up from three percent prior to COVID-19. INCREASING 38% 12% 14% 37% DECREASING FLAT DONT KNOW INCREASING 12% 7% 23% 55% DECREASING FLAT DONT KNOW COVID-19 MARKETING OUTLOOK | 7 WHAT ASPECTS OF YOUR MARKET

35、ING BUDGET REQUIRE THE MOST SPEND? (SELECT THE TOP 3) PRE-COVID-19POST-COVID-19 TAKEAWAYS: *Before COVID-19, 37 percent of marketers said their marketing budgets were increasing for 2020 and just 14 percent said they were decreasing. Post COVID-19, only seven percent said their budgets were increasi

36、ng and 55 percent said they were declining. *For B2B marketers specifically, the decrease was even more pronounced, with 64 percent saying that budgets were decreasing. *The decline of event spend for B2C-only marketers was even more pronounced, with a 30 percent drop in B2C spending on events post-

37、COVID-19. 49% 19% 31% 15% 3% 5% INFLUENCER MARKETING CREATIVE MARTECH DONT KNOW R Twitter from 15 percent to 25 percent; and YouTube from 15 percent to 31 percent. Marketers are clearly relying more heavily on social media platforms to communicate to target audiences. WHAT ARE THE MOST EFFECTIVE SOC

38、IAL MEDIA CHANNELS FOR YOUR BRAND? (SELECT THE TOP 3) PRE-COVID-19POST-COVID-19 41% 30% 10% 3% 2% 4% TWITTER PINTEREST YOUTUBE TIKTOK SNAPCHAT OTHER 19% FACEBOOK 62% 50% LINKEDIN INSTAGRAM 57% 27% 5% 2% 1% 3% TWITTER PINTEREST YOUTUBE TIKTOK SNAPCHAT OTHER 29% FACEBOOK 68% 53% LINKEDIN INSTAGRAM COV

39、ID-19 MARKETING OUTLOOK | 16 TAKEAWAY: The social media content that marketers said resonate the most includes video, images, links to website content and seasonal/topic posts. This data remained steady both pre- and post-COVID-19. WHAT TYPE OF CONTENT RESONATES THE MOST ON SOCIAL MEDIA FOR YOUR AUD

40、IENCE? (SELECT THE TOP 3) PRE-COVID-19POST-COVID-19 11% 22% 10% 30% 45% 6% LINKS TO WEBSITE CONTENT SURVEYS LINKS TO BLOG POSTS IMAGES SEASONAL/TOPICAL POSTS OTHER 38% VIDEO 67% LINKS TO THIRD PARTY CONTENT 8% 19% 10% 37% 50% 6% LINKS TO WEBSITE CONTENT SURVEYS LINKS TO BLOG POSTS IMAGES SEASONAL/TO

41、PICAL POSTS OTHER 34% VIDEO 68% LINKS TO THIRD PARTY CONTENT COVID-19 MARKETING OUTLOOK | 17 TAKEAWAY: *Both surveys showed that marketing handles the majority of social media management, with an uptick in dedicated social media teams post-COVID-19. This points to a growing need for more digital and

42、 social media skills in marketing organizations moving forward. WHO MANAGES SOCIAL MEDIA FOR YOUR BRAND? (SELECT THE TOP 3) PRE-COVID-19POST-COVID-19 10% 8% 26% 18% 7% 6% MARKETING DEDICATED SOCIAL TEAM PR FREELANCERS OUTSIDE AGENCY OTHER 70% SALES 10% 9% 32% 17% 7% 7% MARKETING DEDICATED SOCIAL TEA

43、M PR FREELANCERS OUTSIDE AGENCY OTHER 62% SALES COVID-19 MARKETING OUTLOOK | 18 TAKEAWAY: *Post-COVID-19, creating content that resonates during the pandemic was one of the top challenges to social media marketing, with 45 percent of marketers ranking it in their top three. This suggests that pandem

44、ic messaging and marketing remains a challenge in our current environment. WHAT ARE YOUR BIGGEST CHALLENGES WHEN IT COMES TO SOCIAL MEDIA MARKETING? (SELECT THE TOP 3) PRE-COVID-19 POST-COVID-19 64% 52% 45% 33% 28% GETTING CUSTOMERS AND PROSPECTS TO ENGAGE MEASURING SOCIAL ROI BANDWIDTH TO RESPOND T

45、O SOCIAL AND POST FREQUENTLY HAVING ENOUGH CONTENT INADEQUATE SOCIAL BUDGET 64% 52% 35% 27% 45% GETTING CUSTOMERS AND PROSPECTS TO ENGAGE MEASURING SOCIAL ROI BANDWIDTH TO RESPOND TO SOCIAL AND POST FREQUENTLY HAVING ENOUGH CONTENT INADEQUATE SOCIAL BUDGET COVID-19 MARKETING OUTLOOK | 19 TAKEAWAYS:

46、*Technology, budget and personalization were the top challenges to creating a positive customer experience pre-COVID-19. *Post-COVID-19, budget overtook technology to become the top challenge, with 50 percent of marketers ranking it highly. Customer engagement also increased as a challenge post-COVI

47、D-19. WHAT ARE THE BIGGEST CHALLENGES TO CREATING A POSITIVE CUSTOMER EXPERIENCE? (SELECT THE TOP 3) PRE-COVID-19POST-COVID-19 45% 30% 38% 38% 28% 6% TECHNOLOGY BANDWIDTH/RESOURCES ORGANIZATIONAL SUPPORT/SILOS CONSUMER ENGAGEMENT PERSONALIZATION NOT A PRIORITY 41% BUDGET 50% 31% 39% 37% 42% 6% TECHNOLOGY BANDWIDTH/RESOURCES ORGANIZATIONAL SUPPORT/SILOS CONSUMER ENGAGEMENT PERSONALIZATION NOT A PRIORITY 32% BUDGET COVID-1