As many as 71% of marketers believe that the COVID-19 pandemic has positively affected perceptions of their brands, according to a new report from the Chartered Institute of Marketing (CIM).
The CMO 50 explored the views of 50 of the UK’s top marketers with regard to the long-term future of the marketing industry, finding that the vast majority of CMOs and directors are optimistic but call for stricter government regulations moving forward.
Overall, spirits seemed high amongst the marketing elite, with 52% arguing that the sector is stronger than it was five years ago, compared to only 20% saying it was weaker.
Despite confidence for the future, only 26% of respondents believe the current regulatory system in place for alcohol, gambling, HFSS products, and environmentally damaging goods is suitable, and most would like to see rules mirroring those for cigarettes introduced.
Alcohol was the least popular in terms of a desire for further restrictions with only a third supporting this, whereas more than half hoped for a tightening on unhealthy HFSS products and three quarters want gambling and environmentally damaging products to be more controlled.
CIM charts this demand for greater regulations to the uncertainty of COVID-19, stating that marketers believe regulatory consistency would help ease the journey to recovery.
Chris Daly, chief executive of the CIM, said: “Marketing leaders calling for restrictions on marketing may seem counterintuitive, but it reflects a clear shift in our society towards purpose driven marketing.
“Marketers have been at the forefront of helping the nation adapt to the strictures of lockdown, and in doing so have built stronger relationships with consumers. That hard-won reputational boost has the potential to accelerate economic growth as we emerge from lockdown, and professional marketers are rightly wary of loose regulatory controls allowing a few bad apples to sour the trust of consumers.”
Whilst the report found that only 62% of those surveyed were optimistic for the economy in comparison to 71 for the marketing sector and 81 for respondents’ own firm, it is important to bear in mind the nature of the industry could be pushing CMOs towards such responses.