2021 B2B Marketing Planning In The Age Of Covid

Many companies seemed to fall in one of two camps when the coronavirus pandemic started: They either hunkered down, pausing all marketing activities to “wait out” lockdown or went “all in” on customer acquisition to make up for potential losses. Turns out, the “all or nothing” philosophy tends not to be successful for the long haul — and this haul has been much longer than expected. Businesses that focused instead on helping their customers and leaning into strategic marketing initiatives have typically fared much better. 

So where does that leave us when it comes to marketing planning and budgeting for 2021?

Unfortunately, the old adage is spot on here: Change is the only constant. And that will continue to be true in 2021. Simply copying and pasting your 2019 or 2020 marketing calendar, and changing dates and campaign names, will be far from sufficient for the year ahead. Establishing a steady but flexible strategy, despite the chaos around us, is critical. 

Budgeting Season

As marketers face the inevitable spreadsheets, board meetings and planning calls that accompany the end of the year, they’re also facing shrinking budgets and teams. But according to the American Marketing Association, certain areas of marketing budgets are growing, including: 

• Digital Marketing: The AMA’s latest CMO Survey found that marketers anticipate an 8.4% rise in digital marketing spending throughout the next year. 

• Customer Experience: As a percent of total marketing budgets, customer experience spending has increased 10% over the past few months — a good sign that teams are continuing to prioritize the right strategies. 

• Social Media: Also, interestingly, social media spending has jumped by 74% since February, and the investment has paid off. Marketers report that social media has contributed to company performance 24% more in that timeframe — the first time in the AMA’s CMO survey history that this number has risen. 

Overall, 62% of study participants report that marketing’s importance has grown during the pandemic, due to its critical role in digitally reaching customers. It’s clear that forward-thinking companies see the value of — and even increased — levels of marketing (which I covered in a recent Forbes Agency Councils piece on ways B2B companies can pivot during the pandemic). 

Strategies That Always Work — Especially During a Pandemic 

There are few things we know for sure in 2020, and it’s comforting to remember them. So to that end, here are several marketing strategies that worked before and during the pandemic, and most certainly will hold their weight after. In fact, the pandemic has accelerated the efficacy of each of these approaches. 

1. Maintain a fierce customer focus. Most companies think they’re focusing on and marketing to their customers’ true pain points, of course, but it’s a moving target. Consumer behavior and customer priorities are shifting dramatically, and the pandemic is accelerating the change. Forrester reports that 80% or more of the sales cycle now takes place in remote or digital environments. Trust and social responsibility are more important than ever. “Brands will need to make clear commitments to causes they believe in or risk newly empowered consumers calling them out,” McKinsey explains.

Read more: www.forbes.com