The global pandemic has affected each and every industry. Which has in-turn affected the hiring trends that exist. And the marketing industry is no exception. According to the Bureau of Labor Statistics, the most significant decrease in the number of full time Marketing jobs available was of nearly 40% since February 2020. The pandemic has had a particularly negative impact on the Marketing industry. Same study states that in 2019, the industry saw a decline of 12.5% in job openings compared to 2018. This trend continued into 2020, with a further decline of 15.8%. However, in 2021, the Marketing industry began to recover, increasing by 6.9% compared to 2020. In fact, the pandemic has had a significant impact on the way businesses market their products and services. This is because more people are spending time online, and businesses need to find ways to reach them where they are.
With so much uncertainty in the world, businesses need Marketers who are able to quickly adjust their strategies and tactics as the situation changes. Finally, the pandemic has also led to an increase in the need for Marketers with data analysis skills. Marketers who are able to collect and analyze data will be in high demand in the coming years. In this post, we will see how the pandemic affected the Marketing industry and hiring trends in Marketing.
Read more about – Hiring Trends 2022: Before vs After Pandemic
Top 5+ Hiring Trends in Marketing in 2022
The job market in 2022 is constantly changing and evolving, and this is especially true in the field of Marketing. As businesses increasingly focus on Digital Marketing and data-driven decision-making, the skills that Marketing professionals need to succeed are also changing. Here are some of the top hiring trends in Marketing in 2022:
1. Rise in Content Marketing
As businesses look to create more and more engaging content, Content Marketing will continue to grow in popularity. This means that marketers will need to be skilled in creating compelling, interesting, and informative content because it will require them to capture attention and drive conversions.
2. Growth of Social Media Marketing
Social media platforms will continue to grow in popularity and usage, and this means that marketers will need to be skilled in using these platforms because they will have to reach their target audiences. This includes creating engaging content, using effective targeting and advertising, and monitoring and responding to social media activity.
3. Importance of Data
Data will continue to be a critical part of Marketing because businesses will look to use it to better understand their target audiences and create more targeted and effective campaigns. Marketers will need to be skilled in collecting, analyzing, and interpreting data.
4. Growth of Mobile Marketing
With more and more people using mobile devices to access the internet, businesses will need to make sure that their marketing campaigns are optimized for mobiles. This includes creating responsive websites and mobile apps, as well as developing targeted mobile advertising campaigns.
5. Importance of Branding
In a highly competitive marketplace, businesses will need to make sure that their brand is strong and differentiated. Marketers will need to focus on creating and maintaining a strong brand identity, as well as ensuring that all marketing communications are consistent with the brand.
6. A Focus on Digital Marketing
As businesses increasingly move their marketing efforts online, the demand for Digital Marketing skills will continue to grow. Marketers who are skilled in SEO, Social Media Marketing, and Email Marketing will be in high demand.
Effects of Pandemic on the Marketing Industry: Before vs After
The pandemic has had a severe impact on the global economy and has disrupted supply chains. Because of which the Indian economy contracted by about 5% in fiscal year 2020-21.
Before the pandemic, the Indian Marketing industry was worth an estimated Rs.13,200 crores and was growing at a rate of 10-12%. However, the pandemic has changed all of this, thus affecting hiring trends. The lockdown imposed by the government has led to a decline in demand and has forced businesses to curtail their marketing activities. The pandemic has also resulted in a decline in advertising revenues. Because of this, the marketing and advertising industry was expected to lose crores in 2020, as per a report by the Confederation of Indian Industry (CII),
The pandemic has also forced businesses to change their Marketing strategies and hiring trends. Businesses are investing more in Content Marketing and Influencer Marketing. The following are some of the ways in which the pandemic has affected the Marketing industry in India:
- Decline in Demand:
The lockdown has led to a decline in demand for products and services. Because of this, businesses are force to cut down on their marketing activities.
- Decline in Advertising Revenues:
The pandemic has resulted in a decline in advertising revenues. The marketing and advertising industry was expected to lose Rs.12,000 crores in 2020, according to a report by the Confederation of Indian Industry (CII),
- Increase in Influencer Marketing:
Influencer Marketing has become more popular in the wake of the pandemic because it is an effective way to reach potential customers.
The impact of the pandemic has been widespread and far-reaching. With businesses making substantial changes to the way they operate, the marketing industry in India has been one of the hardest hit. Below is the affect of pandemic on the marketing industry:
- The number of Marketing jobs has decreased by 13% since the pandemic began
- The average salary for Marketing professionals has decreased by 5%
- Number of Marketing agencies has decreased by 20%
- Marketing campaigns decreased by 30%
- Television commercials decreased by 40%
- Print advertisements decreased by 50%
- Digital Marketing campaigns increased by 60%
- The number of social media marketing campaigns has increased by 70% since the pandemic
(The data for this comparison was gathered from a variety of sources, including the Marketing Association of India, the National Association of Software and Services Companies, and the Reserve Bank of India.)
Indian Marketing Industry:
According to several research and reports from different sites, the Marketing industry in India was worth Rs.13,200 crores in 2019 and was expected to grow at a CAGR of 10.1% to reach Rs.21,400 crores by 2025. The industry has been impacted by the COVID-19 pandemic with a decline in growth of 7.4% in 2020. However, it is expected to recover in 2021, 2022 and grow at a CAGR of 12.4% over the next five years to reach Rs.30,700 crores by 2025.
Related Articles: Decoding Marketing Trends Post Pandemic
4 Effects of Pandemic on Marketing Strategies
The outbreak of the pandemic has had a profound effect on Marketing strategies and hiring trends employed by businesses all over the globe. The pandemic has made it difficult for businesses to meet face-to-face with potential customers, so they have had to find new ways to connect with them, such as through webinars and virtual events. Here, we will discuss four ways in which the pandemic has affected Marketing strategies:
1. Operating Methods
The first way in which the pandemic has affected marketing strategies is by forcing businesses to change the way they operate. The pandemic has caused a lot of businesses to shut down due to the restrictions placed on them by the government. This has forced businesses to change their working models and has had a significant impact on their marketing strategies.
2. Consumer Behavior
The second way in which the pandemic has affected marketing strategies is by changing consumer behavior. The pandemic has caused a lot of people to change the way they shop and consume products and services. This has changed the way businesses market their products and services. Businesses have had to change the way they target their consumers because of this, and have had to find new ways to reach them.
3. Online Presence
The pandemic has affected marketing strategies by causing a lot of businesses to go digital. Pandemic has forced businesses to move their operations online and has had a significant impact on their marketing strategies. Nowadays everyone has understood the importance of advertising and promoting their brand because people prefer things that they notice every day.
4. Advertising Methods
The pandemic has forced businesses to change the way they advertise their products and services. Many businesses have had to move to e-commerce platforms to reach their customers. Others have had to change their marketing strategies to focus on local customers and markets.
4 Challenges of Post-Pandemic World for Marketing Professionals
The COVID-19 pandemic turned the world upside down, leaving many marketing professionals scrambling to adapt their strategies to the “new normal”. The challenges they face are numerous because of changes in consumer behavior and budget cuts and supply chain disruptions. Here are five of the biggest challenges marketing professionals face in the post-pandemic world.
1. Budget Cuts
As businesses grapple with the economic fallout from the pandemic, many are making cuts to their marketing budgets. This can make it difficult for Marketing professionals to do their job effectively, especially if they are working with limited resources.
2. Supply Chain Disruptions
The pandemic has also caused disruptions to supply chains, making it difficult for marketing professionals to obtain the products they need to promote. This is particularly challenging for businesses that sell products that are in high demand but have low availability.
3. Increased Competition
The pandemic has led to an increase in competition, because businesses fought for market share in a shrinking economy. This makes it difficult for marketing professionals to make their products and services stand out from the crowd.
4. Uncertain Future
The pandemic has created a great deal of uncertainty about the future, both for businesses and consumers. This makes it difficult for marketing professionals to plan long-term strategies, because they don’t know what the world will look like in the months and years to come.
The pandemic has caused many changes in the world of Marketing. Some of these changes are temporary, while others are likely to be permanent. One of the most significant changes is the way that companies are connecting with their customers. In the past, marketing was all about creating ads and getting them in front of as many people as possible. Today, companies are focused on creating connections with their customers through digital channels. This shift has been driven by the fact that people are spending more time online than ever before. They are also interacting with brands in new ways, such as through social media and online reviews. As a result, companies need to make sure that their Marketing strategies are aligned with how people are interacting with brands today.
1. What are the most in-demand marketing skills in 2022?
Some of the most in-demand Marketing skills in 2022 include:
- SEO (Search Engine Optimization)
- Social Media Marketing
- Content Marketing
- Email Marketing
- Data Analysis and Reporting
2. How can the Marketing industry evolve in the next two decades in India?
The marketing industry is constantly evolving and changing. However, some possible ways it could evolve in the next two decades in India include:
- Personalized Marketing
With the rise of big data and analytics, businesses will be able to gather more information about their customers and use it to create more personalized marketing campaigns.
- Greater use of Artificial Intelligence (AI) and Machine Learning (ML)
Artificial Intelligence (AI) and Machine Learning (ML) will increasingly be used to automate Marketing tasks and to create more personalized and targeted campaigns.
- Increased use of Augmented Reality (AR) and Virtual Reality (VR)
Augmented Reality (AR) and Virtual Reality (VR) will become more common in Marketing campaigns, especially as the technology becomes more affordable and accessible.
3. What are the biggest opportunities for marketing professionals in 2022?
The biggest opportunities for marketing professionals in 2022 will be in the Digital Marketing space, as this is an area that is growing rapidly. Additionally, there will be opportunities for those who are able to work effectively in a remote environment and have strong writing and communication skills.