According to CMOs, COVID-19 has increased the importance of branding

New survey of of 432 marketing executives in North America, the U.K.,France and Germany at companies with $500 million to $20 billion or more annual revenue by Gartner. The study outlines the immediate impact on marketing strategies and spending as a result of the COVID-19 crisis and CMOs’ expectations of the future — how budgets, spending and strategic priorities will evolve heading into 2021.

Key highlights:

  • 33% cited brand strategy as their most vital strategic capability (the #1 capability, significantly higher vs. 2019)
  • Brand health and competitive benchmarking ranked as the top 2 metrics
  • 44% are facing mid-year budget cuts as a direct result of COVID-19, 11% facing major cuts of more than 15% of budget
  • 73% expect COVID-19 near-term negative impact to be short-lived
  • Top positive reactions to COVID-19:
    1. Launched special COVID-19 communications to customers
    2. Deployed listening tools to monitor customer COVID-19 sentiment or trends
    3. Developed scenarios for planning purposes
  • Top negative reactions to COVID-19:
    1. Canceled or postponed customer-facing marketing events
    2. Delayed a campaign launch
    3. Reduced permanent, temporary and contractor head count

Download the full report here: