The world has changed. Employees are working from home, video conferencing has replaced face-to-face meetings, and webinars are the new corporate events.
The pandemic has completely transformed the way people work and play, and companies which want to be successful have to follow these trends.
There are now less people on the roads, cinemas are empty, and newspaper and magazine sales plummeted.
Instead, people are spending far more time online for work, entertainment, and education.
It is no surprise that companies slashed their marketing budgets for print, outdoor, cinema, and radio, and put a lot of that money into digital.
The Trend Score 2020 report, which analysed the change in marketing spend, showed the best-performing marketing medium during the lockdown was digital.
The chart below shows the change in marketing spend for different mediums over the past six months.
Big opportunities remain in the IT and telecoms field
While many sectors are struggling because of the lockdown restrictions and economic downturn, the IT and telecoms fields are awash with opportunities.
Increased cloud adoption, accelerated digital transformation, better cyber security, and the demand for fast broadband access continue to fuel the IT market.
IT companies which decided to invest in online marketing campaigns, instead of waiting for the pandemic to pass, saw exceptional results.
These businesses recorded record performances in 2020, and this trend is expected to continue this year.
The continued lockdown is presenting a unique opportunity for IT and telecoms companies to grow their businesses at a rate which was not possible before.
This raises the question: Which online marketing products produced the best results during the lockdown?
MyBroadband marketing director Cara Muller said the following products showed the best results in 2020:
- Sponsored Content
- Banner Advertising
- Section sponsorships and HPTOs
- Social Media Promotions
- Online Videos
- Newsletter Promos
- Online Events
“Sponsored content bundled with social media promotions outperformed all other online campaigns this year,” she said.
Muller advised companies looking to optimise their marketing spend to invest in online content marketing, social media, video, and display advertising.
“The combination of these online mediums will ensure a company gets excellent exposure and the best possible return on investment,” she said.