As companies continue to recover from the COVID-19 pandemic, new research suggests that it’s business from existing customers that is keeping marketing efforts afloat.
RSW recently published the “2020 RSW/US Agency New Business Report,” and statistics showed that garnering business from existing clients (64%) has been one of the most effective marketing tactics over the past four-to-five months. This was followed by referrals (60%), networking (37%) and organic search (19%).
“As new business generated from presentations, speaking engagements, conferences, and networking decline significantly year-over-year, agencies are making adjustments,” wrote the authors of the report. “More agencies in 2020 found business within existing client portfolios and used different platforms to help generate other new business opportunities.”
Finding B2B Marketing Success Amid the Pandemic
The COVID-19 pandemic has shifted the way that marketers maintain their businesses, and digital advertising has benefited B2B marketers, in particular, who are looking to make strides.
Gartner released Part 2 of “The Annual CMO Spend Survey,” and data suggested that 69% of B2B marketers intend to increase their budget for digital advertising, while 18% expect to at least dedicate the same amount as before.
In addition, 67% of B2B marketers said that they will increase the amount they spend on email marketing, and 20% will spend at least the same amount on this tactic as before.
Other channels that will see an increase in investment include mobile marketing (67%), paid search (66%), website (66%) and SEO (66%).