After COVID-19, Marketing Has a New Meaning in the Business World: Here's Why
Thursday, July 22nd, 2021
Benzinga, a fintech media company providing news and data to retail investors and business lovers, publishes its latest data study: Marketing Spend and Statistics for Small Businesses, Industry-by-Industry and Sector-by-Sector
CMOs from companies big and small reported that 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.
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 - digital and traditional.
Benzinga regularly conducts data studies and publishes its findings. Read Benzinga Reports: Stay-at-Home Orders and Economic Effects for more data like this.