The COVID-19 pandemic upended the 2020 plans of many B2C marketers — amounting to a projected 28% decline in US marketing spend through 2021. Brands improvised, cutting media spend and adjusting their previous marketing strategies to accommodate rapid shifts in consumer behavior. Many companies, especially those in hard-hit industries like travel and fashion retail, were forced to reduce marketing headcount and budgets to mitigate financial losses.
Even as businesses reopen, consumer anxiety and economic uncertainty affect shopping behavior and recovery timelines. Marketers need guidance on how to preserve customer relationships and remain agile amid this ever-changing new “normal.” To that end, we’ve created a collection of research that will help our clients devise an adaptive marketing approach that delivers value for customers even in changing conditions.
How The Pandemic Affects Marketing
- The 2020 COVID-19 Crisis Will Stun US Marketing (Time to read: 16 minutes)
- How The COVID-19 Crisis Will Impact Marketing Spend Between Now And 2022 (Time to read: 2 minutes)
- 2020 Advertising Forecast, US (COVID-19 Update) (Time to read: 20 minutes)
Crafting Your COVID-19 Marketing Strategy
- CMO Priorities In Light Of The Pandemic Crisis (Time to read: 8 minutes)
- Base Your Marketing Priorities During COVID-19 On Your Company’s Context (Time to read: 5 minutes)
- Marketers: COVID-19 Demands That Brands Put Aside Marketing As Usual (Time to read: 4 minutes)
Adjusting Your Marketing Budgets
- Cutting Marketing Resources Is A Bad Idea, Especially In A Recession (Time to read: 4 minutes)
- Coronavirus Sets The Stage For Difficult Marketing And Agency Decisions (Time to read: 3 minutes)
- The Pandemic Slowed Influencer Marketing For Just A Month; Now Growth Is Back (Time to watch: 13 minutes)
- CMOs Need To Radically Restructure Agency Resources To Bring Their Brands Back To Growth (Time to read: 4 minutes)
Not a Forrester client? Visit our COVID-19 hub for further insight on responding, managing, and leading during a pandemic.