fbpx

Marketing has a new meaning in the post-COVID business world: Here’s why

by | Aug 12, 2021 | Marketing, Public Relations

Recent CMO surveys and industry data show that marketing spend over the past year has reached the highest levels in the past decade. New research from fintech media firm Benzinga finds that from small businesses to public companies, there has been an increased reliance on technology that has created a broad shift in marketing heading into the second half of the year.

The firm’s latest data study. Marketing Spend and Statistics for Small Businesses, Industry-by-Industry and Sector-by-Sector, reveals that CMOs from companies big and small reported their digital marketing efforts are at an all-time high. Realistically, this makes sense. The rapid acceleration to a more digitized world has bolstered online ads and e-commerce, though in-person touchpoints are slowly being vanquished.

Marketing has a new meaning in the post-COVID business world: Here's why

However, public companies are embracing this digital transformation more than small businesses, which is intuitive. This can be easily perceived by looking at the variance in marketing spend as a percentage of revenue between public companies and small businesses of the same industry. This variance is only set to grow.

Economic optimism from marketers is nearing all-time highs with a sharp increase from the start of the pandemic. This is just the beginning of a revolution. As the economy expands, so will marketing—both digital and traditional.

Marketing has a new meaning in the post-COVID business world: Here's why

Read the full study here.

To analyze a possible correlation between marketing efforts in small businesses, public companies and various sectors, the firm examined the change in marketing spend and optimism for all of these entities. They did the same for:

Economic sectors:

Industries:

SaaS Spend:

Daily PR Updates

Essential PR industry news, opinion, and analysis delivered to your inbox daily.

Richard Carufel
Richard Carufel is editor of Bulldog Reporter and the Daily ’Dog, one of the web’s leading sources of PR and marketing communications news and opinions. He has been reporting on the PR and communications industry for over 12 years, and has interviewed hundreds of journalists and PR industry leaders. Reach him at richardc@bulldogreporter.com; @BulldogReporter

RECENT ARTICLES