The majority of companies are now spending more money on marketing compared to before the global pandemic amid a renewed focus on affordable, organic campaigns, according to a new report released by Merkle Group.
A number of industries have seen a general spike in marketing investment during the last five months, with retail, insurance and health the most likely to have spent more on general activities, the report found.
While the COVID-19 crisis closed off a range of traditional marketing avenues, companies have been pivoting to digital strategies such as content marketing that can deliver the “localized, relevant” messages that consumers still crave.
More than half of the companies surveyed (52%) said that marketing investment has increased since the start of the year.
However, the study also shined a light on some of the challenges that nonprofit organisations have faced since March.
Seven in 10 non-business entities dedicated to social causes and advocacy said that their marketing budgets have declined.
While overall spend has dropped off in recent months, nonprofits have attempted to optimise budgets and strategies to ensure that marketing projects remain on track.
Almost two-thirds have reported an “accelerated pace” of working.
In contrast, just 9% admitted that plans have either been paused or slowed.
Nonprofits are an outlier though as these levels are far below those reported by other industries.
Merkle Group noted that a slump in events revenue has made it much more difficult for nonprofits to prosper during the pandemic.
“The smart nonprofits are focusing their efforts on localized, relevant messaging and getting more efficient in their marketing spend by focusing on the individuals who can deliver the highest ROI,” Merkle Group senior VP of nonprofits Colin Stewart said in a statement.
Eight in 10 nonprofits also revealed that multichannel addressable campaigns are now being readily deployed to reach target audiences.