Before we were in a global pandemic, many organizations prioritized short-term digital projects instead of an investment in digital transformation. However, the pandemic revealed how important it is to have long-term strategies and why business leaders need to invest in the future. With what is going on today, organizations need to establish a digital foundation to quickly turn when needed.
Investments in marketing technology continue to be a priority for all types of businesses as they strive to meet increased demands in personalization. Marketing Land’s article says marketing budgets dipped slightly to 10.5% of company revenue in 2019 as compared to 2018. With that being said, optimism for 2020 was high at the time of the survey with 88% of CMOs stating they believed the future impact of the global economic environment would be positive.
At the time of the survey COVID-19 wasn’t foreseen, however it has already made a significant economic impact globally. With that being said, it remains to be seen how long the impact of the coronavirus will dominate headlines and bring down levels. At Bold Media we are here to help businesses with marketing during this time to keep you connected with your customers. To learn please contact us at 248-477-5994 or online.