The Big Opportunities and Challenges for Marketers in 2021

Finally, 2020 is in the rearview mirror, bringing welcomed sighs of relief for many but also conflicting sentiments of uncertainty as strategies and budgets are put in place for the new year. Adweek Intelligence conducted a Pulse Survey of 433 readers to help bring clarity from the ground level—what marketers are anticipating as their top challenges and growth areas in 2021, and their predictions for the influence of marketing. Adweek CEO Jeff Litvack presented the findings at our Outlook 2021 virtual event this week. A bigger seat at the table As the marketing landscape evolves, businesses continue to face unprecedented challenges to find ways of being culturally relevant in an authentic way. Sixty-one percent of readers say the influence of marketing is expanding at their company. More specifically, they emphasize the primary role of marketing today is driving measurable business impact (50%). As one reader called out, “Brands shift more budgets to performance, specifically cost per action, to [demonstrate ROI].” Other readers, however, predicted that marketers will continue to push for attention metrics beyond impressions. Aside from driving impact, readers say the primary function of marketing at the organization is brand positioning (30%) and serving as the voice of the customer (20%). For many brands, this means walking a “tightrope,” to use the words of one reader, to stand up for causes that align with their mission without alienating large swaths of their customers. Said another reader, “Purposeful brands [will] grow, the rest will just slide.” Another trend our readers are watching: the growing importance of community and platforms like Clubhouse that facilitate virtual engagement and new definitions of “experience.” Said one respondent: “I think the concept of community will accelerate and evolve based on the pent-up demand for in-person interaction.” Getting technical Consumer privacy has thrust the future of the third-party cookie into question. Despite this, a good portion of respondents (53%) feel optimistic that a cookieless future could bring new opportunities. As one said reader, “Technology will be the biggest issue and accomplishment for the year of 2021.” Readers also expect their clients to keep investing in their tech stacks: 78% predict spending will be the same or higher in 2021. This isn’t surprising, given digital commerce has been such a driver these past few months, and the need for those solutions will undoubtedly grow as we look ahead. Let’s talk money When we asked readers about the status of their budgets, 56% said their plan is already in place, 22% say it will be locked in February or March, and more than one-fifth aren’t sure when the budget will be set. In the same vein of fighting for budgets, 41% of agency readers said new business development is their single biggest challenge for 2021. This was also consistent with the 32% of agency readers who expect most growth will come from new business in 2021 versus expanded business from existing partners. Looking to growth in 2021, readers predict digital will be the biggest channel (53%), followed by events (13%) and direct-to-customer subscriptions (11%). Looking ahead Readers are anxious for a change of pace. Nearly half (46%) were looking forward to new political leadership in the U.S. A close second was seeing the end of the pandemic in sight, with 36% optimistically looking forward to seeing family and friends (eventually) in 2021. With this change, some readers cautioned that the New Year won’t signal the flip of a switch, and some of the challenges that dominated 2020—political divide, social injustice and global health concerns—won’t immediately disappear. Some readers predicted 2021 will continue to spotlight the importance of work-life balance and the accommodation of remote work styles. “Overall, the wellbeing and the right mix of diversity and inclusion inside companies will play a key role in 2021,” said one reader. “Better employees, better results.” In fact, from a business perspective, 47% of readers predict “more of the same” in 2021 while 14% percent predict things will get tougher. This combined 61% is perhaps indicative of a lingering pressure to be agile in responding to the ongoing uncertainty in the industry. On the flip side, 39% percent of readers are more optimistic, saying that 2021 will be markedly better than 2020. “The only thing predictable is that we’ve learned to deal with unpredictability,” reiterated a reader. “My sense is that 2021 will still surprise us, but nothing will shock us the way 2020 did.” See more of Adweek’s 2021 Outlook coverage, including deep dives from our editors into the future of marketing. Consumers Want Brands to Make Shopping Fun and Reflect Their Values

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The Big Opportunities and Challenges for Marketers in 2021

Adweek Intelligence survey reveals optimism and a need for new ways to interact

A bigger seat at the table

Erica Perry

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Erica Perry