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COVID-19 changed the B2C landscape in Q1. Offline experiences transformed or shut down altogether; budgets tightened; the outlook got bleak and impossible to read. Six months later, with a completely unique holiday season approaching fast, the future remains tenuous.
Perhaps it should come as no surprise, then, that B2C CMOs are setting priorities and planning investments to optimize the short-term picture – and limiting their long-term growth opportunities in the process.
In our just-released report, Accept No Limits: B2C Marketing in 2020, 3Q Digital surveyed 500 CMOs in the B2C industry to gauge challenges, priorities, and investment plans in the second half of 2020 and into 2021. Most are focused on the health and well-being of their companies and their employees, which is understandable in the midst of a global pandemic and mass social unrest. In a time when salvaging short-term numbers may save jobs, many CMOs are planning for short-term performance even as they recognize challenges that will persist over the long term.
The upshot: those CMOs who can juggle the present and future have the chance to gain a lot of ground on their competitors – even Amazon and Walmart. Consumers are craving diversity and authenticity, and brands that can build holistic digital experiences designed around customer-centric insights can fill a gap and meet a growing need, especially with online engagement soaring.
In our report, which you can download here, you can read more about the common challenges and emerging opportunities in B2C marketing in Q4 and beyond.