As industries continue to recover from the disruption posed by the ongoing coronavirus pandemic, many are struggling to stay ahead of competition in what has become an extremely hypercompetitive marketplace. Pundits continue to trumpet the value of digital marketing, noting how digital strategies can be used effectively to target specific markets and increase the personalization of your marketing efforts.
Last year, the coronavirus pandemic caused worldwide economic hardships. Businesses shut down for long periods — or were permanently shuttered — and the repercussions are continuing to show up in the way people do business. Many companies had to rethink their dependence on outside suppliers for important day-to-day supplies such as signage and marketing collateral, since many print shops were forced to close.
The coronavirus pandemic has taken a bite out of the American economy. Over 800,000 U.S. businesses permanently closed during the first year of the virus, a 200,000 increase over previous years. Moving forward, many companies still struggle to stay afloat in the ever-changing environment of post-pandemic uncertainty. And, with more businesses cutting budgets, marketing firms are seeking to stand out from the crowd to continue to earn business from the survivors.