We can all agree that 2020 was a year like no other.
For many companies, it was a trial by fire. Some rose to the top and saw record-breaking profits. Others went under and never recovered.
What made some businesses in the same industry succeed while others failed?
And of those that survived and even thrived under unprecedented conditions, how are business owners faring today – in a “new normal” market?
Are they feeling confident about weathering new challenges and their future?
To find out the current state of marketing in this rocky “new normal” period, a survey of 600 small business owners in the United States was conducted in the summer of 2021, providing a powerfully insightful look at how marketing agencies can fulfill new needs and goals of small businesses in a post-pandemic era.
Key Findings
- 80% of businesses say they’re back to fully working, with most citing a full recovery from the pandemic.
- 94% of small to medium-sized businesses are looking for marketing agencies to improve their post-COVID efforts.
- 96% are open to increasing their marketing budget and paying agencies more for their services.
The data demonstrates a unique opportunity for marketing agencies and small businesses to partner with each other and plan long-term strategies designed to weather future challenges. Read the full report for a deeper look.
The Future Outlook of Marketing for Small Businesses
The business owners who participated in the survey all had less than 200 employees. 56% of the respondents revealed that COVID-19 had negatively impacted their business, while 11% saw growth and 33% felt no impact from the pandemic.
The future is looking brighter – 80% claim that their business has fully recovered from the pandemic, and 71% feel confident that their business is currently positioned for long-term growth and success.
What do most of these businesses have in common?
If you guessed a marketing strategy, you’re correct.
Only 3% of the businesses surveyed do not currently have a growth strategy in place. The other 97% have a strategy through the next six months at a minimum.
Respondents listed the following marketing strategies as part of their core approach:
- Social media marketing: 57%
- Official business website: 49%
- Email marketing: 43%
- Blog: 35%
- Newsletter: 32%
- Campaign-specific landing pages: 29%
- Reviews and testimonials: 28%
- Referral program: 26%
- Customer relationship management (CRM) technology: 20%
- Paid search or pay-per-click (PPC): 17%
- SEO or local search optimization: 15%
- No marketing at all (largely due to budget cuts, time constraints, and relying exclusively on word-of-mouth advertising): 6%
- Other: 1%
5 Ways a Strategic Partnership with a Marketing Agency Can Help Small Businesses Grow
Most businesses are finally trending in the right direction after more than a year of lockdowns, mask mandates, restrictions, and consumer hesitancy.
Consumer optimism has been steady, and there are welcome signs of discretionary spend recovery.
But, despite the positive outlook, the marketplace is still rocky and vulnerable. Nobody knows exactly what the future holds, especially with the continued risk of new case surges and more contagious variants on the rise.
Businesses aren’t out of the woods yet.
