- Criteo’s COVID-19 Impact on Marketing report highlights the impact of COVID-19 on consumer buying behavior.
- Criteo surveyed 1,000 senior marketing executives worldwide, including 105 in India, to learn about their plans for 2021.
- According to the report, 43% of marketers surveyed in India said their business saw sales decline in 2020 due to Covid-19.
- 54% of marketers said Covid-19 resulted in more sales / bookings from websites.
Criteo’s COVID-19 Impact on Marketing report released today found that 8 out of 10 marketers in India have increased their digital marketing spend due to Covid-19.
The report highlights the impact of COVID-19 on consumer buying behavior and has led to more online sales and rapid digital transformation. The survey results show the impact of Covid-19 on businesses, their priorities, challenges and digital marketing spending.
Criteo research found that more than half of marketers say their digital marketing campaigns are going as planned. Criteo surveyed 1,000 senior marketing executives worldwide, including 105 in India, to learn about their plans for 2021. According to the report, 43% of marketers surveyed in India said their business had seen a decline in sales due to Covid-19, but 54% of marketers said Covid-19 resulted in more website sales / bookings, indicating this that promoting online sales and visits will be a big focus for businesses that are moving forward. The budget for social media, content marketing, paid videos, and advertising on websites and apps for retail is also expected to grow in 2021. 4 out of 10 marketers state that Covid-19 has led to a rapid digital transformation of business processes. Another 46% said they were more efficient and 45% said they had higher customer loyalty.
Were there positive results for your company during COVID-19?
Source: Criteo COVID-19 Marketing Survey Impact, India, October 2020, n = 101.
Covid-19 has forced significant changes in sales, marketing and operations. 8 out of 10 marketers in India say the percentage of digital marketing spend in their business has increased due to Covid-19. In today’s environment, 65% of marketers believe that the marketing function in companies has become more important due to increased digital marketing activities. Additionally, 69% believe marketing has become important to attracting new customers, and 58% said it was building and strengthening their brand values.
Why did the marketing function gain importance in your company during COVID-19?
Source: Criteo COVID-19 Marketing Survey Impact, India, October 2020, n = 85. Commenting on the survey, Taranjeet Singh, Managing Director of Criteo Southeast Asia and India, said, “Our survey focuses on marketing as a remote control for everyone’s ladder of success Company, especially during Covid-19. Digital transformation will remain a focus in 2021 as companies realize that we may never return to normal business operations. By staying up to date on new trends, analyzing the market insights and understanding growth
Customer demands and behavioral changes allow marketers to develop a successful marketing campaign to move forward in the future. Agility in all facets of business, especially marketing, will be a key to success. ”
He added, “At this turning point of change, we are committed to transforming the company’s assets into the world’s leading commerce media platform for brands, agencies and retailers to optimize their digital advertising revenue and ROI.”
In terms of digital marketing spending and budget reallocation, almost all marketers in India have made changes to their strategy due to the pandemic. According to the survey, it can be observed that Covid-19 led to more marketing spending through digital channels that will continue in the coming years. 58% of marketers in India say their digital campaigns rely too heavily on walled gardens. Digital marketing budgets have increased, but brand safety and high reliance on Facebook, Google, and Amazon are major concerns (50%). Almost half of marketers in India say their marketing budget commitments and new product / service launches are going as planned. Events and outdoor marketing campaigns were more affected.
The survey shows that 51% of marketers say their budget for advertising on publisher websites and apps is projected to increase in 2021. Here customer loyalty and the expansion to new offers are the most important goals for the future. Marketers in India acknowledge that digitizing business operations is their number one priority (70%).
What are your company’s main goals to recover from COVID-19?
Source: Criteo COVID-19 Marketing Survey Impact, India, October 2020, n = 96.
Which of the following priorities will you set in order to better deal with COVID-19 situations in the future?
Source: Criteo COVID-19 Marketing Survey Impact, India, October 2020, n = 95.