83% of Local Businesses Have Revamped Their Marketing Strategy in Light of Pandemic, Viamedia Study Finds
Despite the economic downturn wrought by COVID-19, over 75% of local US businesses have remained open during the pandemic — with many looking to adopt effective, fresh marketing and advertising strategies, according to a recent study by Viamedia, the television industry’s largest independent local cross media management company.
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Viamedia’s research revealed 83% of local US businesses have revamped their marketing strategy, which confirms that despite the economic downturn of #COVID19 a strong need for advertising remains.
Based off US responses of Viamedia small business customers and local agencies nationwide, the results indicate a clear drive by businesses to adapt rather than settle:
- 83% of companies have changed their marketing tactics in response to the pandemic;
- 46% are offering incentives and promotions to drive sales and continue operations during this time.
Viamedia’s in-depth research study, ‘How Can We Help Through the Pandemic,’ received survey results from a statistically relevant sample of business owners across the US, with 59% of responses coming from local business owners and 29% from advertising agencies on behalf of businesses. The survey was conducted between May 15 and May 27, 2020, as a means of investigating challenges facing businesses and producing data that could provide a critical roadmap of demand by local advertisers.
“Local businesses are the backbone of the American economy, so it was important that we had deep insight into their struggles, hopes and concerns,” said Becky Jones, Chief Marketing and People Officer at Viamedia. “During this pivotal time, Viamedia can help utilize its digital and cable TV advertising pathways by leveraging the critical data from this survey to help businesses connect with their local communities—now and beyond the crisis. Hopefully the insights provided by the findings can help businesses and agencies alike in formulating actionable strategies for a post-pandemic environment.”
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