A recent article in Marketing Week highlights that the COVID-19 pandemic has driven a record decline in marketing budgets, with around 64% stating a decrease in spending. Only 13% said they had an increase. Though the UK’s economic outlook remains unpredictable, many companies are being urged to invest more into their marketing to strengthen their brand and long term profitability.
“Ultimately, companies must invest in marketing in a recession in order to profit in a recovery.”
With the constant growth of online marketing through social media platforms such as TikTok, some brands thrive at any opportunity to promote their brand. A great example of this is portrayed through Little Moons and how they took advantage of their product becoming a viral trend on TikTok. Over 15,000 Little Moons themed videos have been created, making their sales skyrocket by 2,000% – constantly selling out in supermarket stores: Tesco and Waitrose.
To read more from Marketing week, visit the link below:
At Trident Marketing, we can offer your business a variety of online and offline Marketing Services to help drive your business’ Marketing efforts in the right direction!