What Does The Business and Marketing Landscape Look Like 2 Years On?
2 Year on and we are all aware that the final nail in the coffin for traditional marketing was when the pandemic arrived back in March 2020 and with it many businesses have died since.
Surprisingly it was businesses that had been around for decades and centuries that have perished, as they simply weren’t as future proof or prepared as we thought they might be.
Many new businesses dwarfed those once well established brands and made them redundant almost overnight, like Gymshark who went from £0 to £1.4 Billion within 6 years, Boohoo who grew 45% financially during the pandemic, Amazon who’s profits soared by 84% hitting $386 Billion in 2020, Tesla who saw a 787% increase in profits, Slack Technologies at a staggering £24bn market value and Spotify who saw a 123% increase in market value.
However all of the unsuccessful companies had one thing in common, they did the same thing that they always did, they never adapted to the world and the market around them and relied on traditional marketing strategies even though the results every year were failing.