How Marketing Agencies Will Change in 2021

Marketing has changed. Will you embrace it or allow your business to falter and fail by relying on outdated strategies?

With impending market changes, technology advancements occurring daily and the fallout from a global pandemic lurking over us, it is no surprise that the majority of traditional business ventures and marketing firms seem to be suffering. When the world seems to be teetering on the fringe of an economic recession,  it is easy to push your digital marketing budget last on your list of priorities—but that would be a mistake.

In 2020, with more than $28 billion on retail marketing and over $40 billion being spent on social media advertising in the United States alonean increase of more than 10 percent from 2019—industries that have been dragging their feet are now being forced into the new business model.

Small to medium businesses have reported their lowest retail sales have hit their largest revenue drops in decades and the majority of new ventures are being paused or abandoned altogether.

While many marketing agencies stand firmly that revenue loss is simple due to the current social climate, the Colada Marketing team sees the unique business opporunity 2020 has provided. While COVID-19 has caused many Canadians and Americans to be laid off to take a pay cut, a thriving consumer demand still exists—completely online.

Unfortunately, brand names and block chains are the primary beneficiaries due to their established ecommerce business models.

So what happens to small businesses trying to compete with the goliaths of industry? 

In order to survive, small businesses are being forced to double down on their marketing budget to bring their digital strategy up to speed or risk folding altogether.

It is time to change. Time to evolve. Time to accept that traditional marketing can no longer succeed in a marketplace where corporate competitors are oubidding to be the only ones being seen.

As many would argue, it is the stop loss fallacy. Yes, you have poured years and years of passion and effort into realizing your marketing success and that most likely came with a very large price tag. However, you should not let your judgement be clouded by a feeling of surrender. Change is not quitting. Change is evolution, and it is time to embrace it. 

Accepting change is often the only way to succeed, and unfortunately many businesses suffer and fail because of their inability to do so. As a business owner, you realize that with every sales and marketing decision you make, there are pros and cons. Deciding between a marketing firm and bringing marketing in-house in theory should be simple. A marketing firm is seen as advantageous in many ways, because they would promote their “tried and true” approach (see: expendable traditionality) that brings together a diverse range of skills and experiences. Meanwhile a marketing team in-house would mean that you and your business would benefit from the dedicated, personal, and focused effort that having someone streamlined into your business could achieve. Easy decision, right?  

lightbulb idea puzzle piece fitting hand
lightbulb idea puzzle piece fitting hand

Should you choose to accept the traditional, conglomerate style approach of large marketing firms, you surrender the soul of your business. You accept that your brand, your style, and your messaging will be handled by a company that no matter how pretty they package it, is reflective of a standardized approach. A checklist economy that actively works to remove the natural brand development you have worked hard to achieve. The firm will function with their profits in mind, first and foremost. Your success is a symptom of their processes, and be utilized as a means to simply hurd in the rest of similarly styled businesses. At the end of the day, you may realize a short term gain, but then a quick drop of interest as your business becomes another number, resulting in “marketing firm hopping”, where you will continue seeking what you truly want from somewhere else – respect.  

Meanwhile bringing marketing efforts in-house in the form of a marketing manager, marketing specialist, adwords and PPC specialist, content creator, graphic designer, etc., can become cumbersome. B choosing an individual for one perfected marketing skill, you risk letting others fall to the wayside. Not to mention the added pressure on your budget. Hopefully, what you lose in range of skill is made up for in dedication, passion and transparency. While in-house marketing teams can be extremely successful, these often lead to complacency and sacrifice. A recent survey suggests that 55 percent of businesses with in-house marketing feel their marketing strategies and technologies are outdated. Of those 55 percent, 79 percent reported a consistent decline in sales, subscriptions and new customers.

the best marketing plan in 2021 requires a dynamic, versatile yet relatable approach.

Though some negative elements, once an in-house marketing team is established the benefits are clear. of an in-house marketing team is simple. There is no need to constantly revisit projections, struggle to set up meetings and accountability or direction is in your control. It is a worthwhile compromise, that by being selective about your in-house marketing team, you knowingly surrender diversification and comprehensive abilities in exchange for brand control. Unfortunately you also lose out on flexibility, as now you are essentially stuck with a team that may or may not be everything that you hoped. Budgets are defined, skill-sets are limited and any desire to expand your marketing repertoire above and beyond what is known will result in needing the same very marketing firms that you once sought to escape.

2020 2021 hourglass sand time running out 3d

The reality of the situation is that marketing in 2021 requires a dynamic, versatile yet relatable approach. Accepting the oversampled approach of a large firm risks loyalty to your business while migrating marketing efforts in-house is a major fiscal responsibility amongst a pandemic. Luckily the solution is simple. Enter the boutique, personalized marketing agency. Colada Marketing is comprehensive in its abilities yet dynamic in its approach to handling your business. It combines the best elements of a marketing firm (including the range of opportunities, effectiveness, and reliability) with the flexibility and freedom of an in-house marketing team. 

 

The reality of the situation is that marketing in 2021 requires a dynamic, versatile yet relatable approach. Accepting the oversampled approach of a large firm risks loyalty to your business while migrating marketing efforts in-house is a major fiscal responsibility amongst a pandemic. Luckily the solution is simple. Enter the boutique, personalized marketing agency. Colada Marketing is comprehensive in its abilities yet dynamic in its approach to handling your business. It combines the best elements of a marketing firm (including the range of opportunities, effectiveness, and reliability) with the flexibility and freedom of an in-house marketing team. 

 

When you choose Colada,  9-5 hours do not exist. We work with and for you to provide an experience that matches your in-house team, while delivering results that exceed expectations at a fraction of the cost. 

With a boutique marketing agency, your hard work and dedication is not forgotten, neither is your vision. Colada Marketing cares about your business because we are also a small business. We understand the trials and tribulations of the past year and have a passion for getting local businesses back in the green.

We have a small team mentality with big campaign experience. You get the dedication of a staff with countless hours of marketing experience behind them and with the passion for your business’ success. 

To learn more about how we can position your small business successfully in 2021, contact our team.

 

Let’s Make It Happen