CMO-Covid-19和营销（英文）-2020.6-79页_1mb

Summary of Covid-19 and the State of Marketing (CMO Survey Special Edition – June 2020)

Core Content

This Special Edition of The CMO Survey provides insights into how the Covid-19 pandemic has impacted marketing activities, spending, jobs, and performance across various industries and company sizes. It highlights the challenges faced by marketers and offers forward-looking perspectives on customer behavior, economic forecasts, and marketing strategies during uncertain times.

Main Points

• Marketer Optimism:

  • Optimism about the overall U.S. economy dropped significantly to 50.9 (out of 100), reaching levels not seen since the Great Recession.
  • 85.3% of marketers are less optimistic about the economy than before, a triple increase from February 2020.
  • Marketers are more optimistic about their own companies, but this optimism has also declined to near Great Recession levels, with 68.8 out of 100 reported.
  • B2C companies are more pessimistic than B2B counterparts, and larger revenue companies are more pessimistic than smaller ones.

• Customer Behavior:

  • Customers have shown increased openness to digital offerings and a higher value on digital experiences during the pandemic.
  • Marketers anticipate that many behaviors, such as likelihood to buy and willingness to pay full price, will return to pre-pandemic levels within 6–12 months.
  • However, the increased value on digital experiences is expected to remain permanently.
  • Trusting relationships and low prices are now more important to customers than before.

• Marketing Performance:

  • Marketers reported significant losses in sales revenue, profits, and customer acquisition during the pandemic.
  • Sales revenue dropped by an average of 17.8%, with B2C companies suffering more than B2B.
  • Profits fell by 14.7%, and customer acquisition dropped by 9.2%.
  • Despite these losses, marketers expect a rebound in performance over the next year, with sales revenue projected to grow by 4.2%, profits by 2.6%, and customer acquisition by 7.1%.

• Marketing Spending:

  • Marketing budgets as a percentage of firm budgets and revenues reached record highs, at 12.6% and 11.4% respectively.
  • 30.3% of marketers reported no change in their marketing budgets, while others experienced gains or losses.
  • Digital marketing budgets saw smaller changes compared to nondigital budgets, with digital budgets expected to return to pre-pandemic levels faster.
  • Spending on customer experience increased by about 10%, while training spending decreased by 24% from its peak in 2019.

Key Information

• Survey Methodology:

  • Conducted from May 5–27, 2020, with email contact and four follow-up reminders.
  • 2654 top marketers from U.S. for-profit companies participated, with a 10.32% response rate.
  • 97% of respondents were at VP level or above.

• Industry and Sector Insights:

  • Economic Sectors:
    • Technology (Software/Biotech): 14.2%
    • Banking: 11.3%
    • Retail: 10.9%
    • Healthcare/Pharmaceuticals: 10.9%
    • Professional Services/Consulting: 10.6%
    • Communications/Media: 9.1%
    • Consumer Packaged Goods: 9.1%
    • Manufacturing: 9.1%
    • Consumer Services: 5.8%
    • Transportation: 4.4%
    • Mining/Construction: 1.8%
    • Energy: 1.5%
    • Education: 1.1%
  • Performance by Sector:
    • B2B Product: 54.0
    • B2B Services: 52.6
    • B2C Product: 47.1
    • B2C Services: 44.7
  • Revenues and Profits:
    • B2C companies experienced greater declines in revenue and profits compared to B2B.
    • Transportation and Consumer Services were the hardest-hit industries.
    • Smaller companies (revenue < $25M) were more negatively impacted than larger ones (revenue > $1B).

• Expected Recovery Timelines:

  • Most marketers expect customer behavior to return to normal within 6–12 months.
  • The increased value on digital experiences is expected to "never return" to pre-pandemic levels.
  • Nondigital marketing budgets are expected to return to pre-pandemic levels within 6–12 months, while digital budgets are expected to recover within one month.

Conclusion

The pandemic has significantly disrupted marketing activities, leading to reduced optimism, performance, and spending in many sectors. However, marketers anticipate a recovery in the next year, with digital experiences playing a lasting role in customer behavior. The CMO Survey highlights the importance of adapting to new market conditions and maintaining brand awareness and customer relationships in the face of economic uncertainty.