More than a third of marketing leaders say that they have adapted their content output to “reflect the economic climate” in a new report that reveals how the industry has changed during the COVID-19 pandemic.
While the last 12 months have been challenging, LinkedIn’s study of 300+ marketing executives at large organisations in the UK shows that many have already adapted and are confident of driving growth.
There had initially been fears of a downturn in investment, but the opposite appears to be true for now as 44% revealed that they will increase marketing spend to support new campaigns and revenue streams.
This is being done to achieve internal objectives, but customers are also driving the changes as 75% say that their target market now expects to see greater innovation.
The pandemic has also accelerated digital transformation schemes and given 40% of leaders a platform to reimagine core marketing processes.
This evolution will see 41% shifting more in-person events to virtual events and webinars, and 38% tweaking content output and messaging.
Around three in 10 also want to break free of tried-and-tested methods, and reach new customers.
There is a focus on the short term though due to the uncertainty of the pandemic, with 87% of respondents claiming that marketing agility has become a top priority.
LinkedIn’s Tom Pepper noted that flexibility was important, but advised chief marketing officers (CMOs) not to lose sight of long-term strategy.
He added: “Upskilling will be an important focus for CMOs this year as they look to redeploy employees and plug potential skills gaps, but the savviest will also know when to bring in extra talent.”
The study also found that the pandemic has resulted in consumers looking more favourably on brands.
75% of leaders said that their reputations have improved and 70% believe that they now have more trust from customers.