Croud’s specialist in-housing division, Serpico by Croud, recently led a report conducted by global research house Censuswide, revealing the effects of the pandemic on businesses’ plans to in-house digital marketing capabilities.
In this study, Croud surveyed 112 senior US digital marketing decision-makers in September 2020, and found that, since the pandemic hit, nearly half (40%) are planning to move digital in-house. Survey reflects growing interest in in-housing across the US despite over a third losing in-house talent due to effects of the pandemic.
Despite this growing propensity for in-housing, 38% of US digital marketers say they have lost in-house talent due to COVID-19; 50% to redundancy and 50% to those quitting their roles, opening up questions as to where talent will be sourced from in future. Areas of data management were the hardest hit with talent reductions (49%), followed by creative and programmatic (both 44%), social (39%) and paid search (37%).
Businesses in the US were also concerned about the potential for more budget cuts in the future (38%) and their ability to scale company culture to an extended team when in-housing (34%) due to the ongoing pandemic.
To mitigate these concerns, a quarter (25%) are planning to in-house with the support of an agency, whilst just 15% said they’d be moving away from agency support altogether. Just 10% are planning on in-housing less and moving towards agency support entirely.
Ben Knight, CEO and Co-Founder of Serpico by Croud said of the results:
The COVID-19 pandemic has accelerated the trend of in-housing in the US further, bringing with it new cultural changes that make the idea of in-housing even more appealing. With the pandemic catapulting digital development five years ahead of schedule, ownership of data has never been more important for brand marketers, as is the need to have in-house experts to make sense of it all. Additionally, a recession acts as a catalyst for change, with brands taking a step back to review activity.
There are, however, unique challenges to in-housing, particularly with regards to keeping up with the latest technology, scaling company culture in a work-from-home world and the uncertainty of future budget cuts. Brands should look to work with partners that can help mitigate risk and scale resources up and down with ease.
To download the full report and analysis of the results, please click here.
About Serpico by Croud
Serpico by Croud is a dedicated in-housing consultancy, giving marketers direct access to Croud’s sophisticated tools, technology, and global network of 2,400 on-demand digital experts.
Croud is an award-winning, global, full-service digital marketing partner, specialising in developing key strategies for sustainable business growth.