After COVID-19, Marketing Has a New Meaning in the Business World: Here's Why

Small Businesses Have Experienced Their Darkest Days, yet More and More Revenue is Allotted To Marketing

CMO surveys and industry data shows that marketing spend over the past year has reached the highest levels in the past decade. From small businesses to public companies, there has been an increased reliance on technology that has created a broad shift in marketing heading into the second half of the year.

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Benzinga

Jul 21, 2021, 14:30 ET

DETROIT, July 21, 2021 /PRNewswire/ -- Benzinga, a fintech media company providing news and data to retail investors and business lovers, publishes its latest data study: Marketing Spend and Statistics for Small Businesses, Industry-by-Industry and Sector-by-Sector

CMOs from companies big and small reported that their digital marketing efforts are at an all time high. Realistically, this makes sense. The rapid acceleration to a more digitized world has bolstered online ads and e-commerce, though in-person touchpoints are slowly being vanquished.

However, public companies are embracing this digital transformation more than small businesses, which is intuitive. This can be easily perceived by looking at the variance in marketing spend as a percentage of revenue between public companies and small businesses of the same industry. This variance is only set to grow.

Economic optimism from marketers is nearing all-time highs with a sharp increase from the start of the pandemic. This is just the beginning of a revolution. As the economy expands, so will marketing - digital and traditional.

Benzinga regularly conducts data studies and publishes its findings. Read Benzinga Reports: Stay-at-Home Orders and Economic Effects for more data like this.

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SOURCE Benzinga