Expert survey: COVID-19 will change marketing permanently
The current corona crisis will permanently change the way marketing works in companies. At the Digital Marketing Day 0720 of the German Institute for Marketing, participants were asked about various post-corona theses. We present you with the theses that received the highest approval ratings.
95% believe that the demands on the speed of work, decision-making and flexibility are increasing: Due to the changing circumstances, many companies have had to and are still having to adapt and reinvent themselves. For this reason, the demands on the speed and flexibility of various work processes is likely to increase.
94% suspect that social media will stay: Social media is currently booming. Instagram, Facebook and other social media platforms have now become central platforms on which companies can market themselves. The majority are certain that this will continue to be the case. In the present moment, the hustle and bustle around well-known social media platforms is increasing once again.
93% assume that digital competition will intensify: As digitization increases, digital competition is also likely to intensify. This is good news for users as increased competition usually means more and better choices at more competitive prices.
93% expect more innovations and new business models: If one assumes that competition will increase, then companies are likely to get more involved than ever in order to gain competitive advantages through new innovations and business models.
92% believe that brands and companies need to be more careful: The corona crisis caught numerous companies unprepared. As a result, some of them have had to undergo severe setbacks. In the future, companies will be better prepared and be more careful in the event of unexpected situations.
84% expect the marketing budget to become more digital: Even before the coronavirus pandemic, there has been a growing marketing budget for digital measures. The majority of respondents are convinced that this will only increase with the current situation.
83% expect agile principles to become normal: Companies have had to adapt quickly in this unprecedented global situation. Marketing was not excluded from this either.
77% see that digitization remains a trend: Over time, the possibilities of the digital world are ever-increasing and evolving. In the current times of the corona pandemic, many companies are being forced to develop further in the area of digitization.
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This article was published in the Australia Freelance Market News 11/2020.