As marketers look to bounce back from the impact of COVID-19, new research suggests that they will be turning to both existing customers and new prospects to achieve their strategic goals.
S2 Research recently published the results of the “Marketers, Agencies and Coronavirus” survey, and statistics showed that 76% of marketers believe it will be “extremely important” to reconnect with existing customers over the next six to 12 months. Approximately 72% also said that it will be “extremely important” to connect with new customers and prospects over the same time period.
Overall, most marketers (44%) said that “life should return to normal slowly” following the COVID-19 pandemic. The same percentage said that they believe their customers want life to “return to normal slowly” as well.
A Closer Look at the Impact of COVID-19 on Marketing
This is not the first batch of research to highlight the impact of COVID-19 on marketing initiatives. Previously reported data suggests that many marketers have begun to shift their priorities as a result of the pandemic.
LinkedIn released the “COVID Marketing Impact and How Marketers are Responding” report, and statistics showed that the majority of marketers (76%) have been forced to shift their marketing priorities as a result of the pandemic, and it has been their leading challenge.
Other obstacles include budget cuts (74%), advertising investments and planning (69%) and switching from in-person to virtual events (69%). About 67% of marketers said that COVID-19 has had at least “some impact” on their campaign strategies, while 18% stated that it has had a “major impact.”