There is ample evidence that customer behavior has changed due to the COVID-19 pandemic. But what changes are CMOs seeing and when do they anticipate these behaviors to return to what they once were, if at all? A special edition of The CMO Survey [pdf] takes a look at these and other timely questions.
The May 2020 survey of more than 270 top U.S. marketers shows that customer behavior has changed in several ways. Without a doubt, the most noticeable change for nearly all respondents (97 percent) has been lower in-person marketing engagement, whether that be in sales or store visits, or at tradeshows. Much of this is due to stay-at-home initiatives in the U.S., as well as the cancellation of events, with a dramatic impact on the events industry.
Along with the reduction of in-person engagement, 85 percent of CMOs report seeing an increased openness to new digital offerings introduced during the pandemic, while 84 percent have witnessed increased value being placed on digital experiences.