2021 is here. It is appropriate to celebrate the end of a particularly difficult year, but also, to prepare for another dry one as more businesses try to navigate the desert that is the marketing industry.

Previously, I mentioned that 2021 won't solve 2020. This post is about embracing the slowdown to making some predictions / plans for the unknown in marketing / advertising / PR.

Prediction 1: Businesses will still be gun shy in adspend

With the pandemic still raging in 3rd waves around the world, there is still uncertainty. Instead of resuming spending on marketing, businesses will be still holding on to their funds in case of yet another lockdown.

Of course, not spending at all is not sustainable so the plan for most is to do the bare minimum to keep up outreach and visibility. In this case, the best way forward in 2021 is to seek government help - in Singapore at least, there are always grants that companies can tap into.

Many government grants will help companies with branding and strategy, perhaps it is the best time to refresh your logo or work out your content strategy. While these usually doesn't give upfront funds for expenditure on social media ads and may take a while to be processed, a few drops of water can last you till an oasis.

2021 Plan A: Be proactive and apply for grants

Prediction 2: Retainer models will die out in favour of gig economy

With what remains of the rapidly evaporating budgets, businesses have less to spend after a lean year so it is to be expected that they will be less likely to continue long-term retainers to external agencies to do the work. Many will opt to rely on internal resources and only look out for consultants when absolutely needed.

Yet, there will be those who can pivot and survive this barren wilderness. Before CoVid-19, there were many who already pointed out the inherent problems with retainers. Now with a cash crunch, the gig economy is the way forward. Basically, one-off success-based campaigns.

Each campaign is project-based and will end (possible to renew but dependant on meeting deliverables). Marketeers will have to pitch for every campaign like it is their last and will have to make it work or they will be replaced. Yes, those that do not (camel) toe the line, will be cut but it makes the industry better as a whole.

2021 Plan B: Agencies to evolve or die as businesses seek more options and ROI.

Prediction 3: Resurgence of non-traditional payment

Barter trading is the oldest form of commerce and it is making a come back. Even agencies need services so why not strike a win-win with your suppliers? Both parties strengthen their relationship to perhaps reseller deals and mergers, if interests align. If your current suppliers do not want to work this way, well, find another one with suitable quality who will. Times like this, no one can be too picky.

Another consideration is payment via cryptocurrency. At the time of writing, with Bitcoin hovering at $27k USD, getting paid with an asset of fluctuating value sounds awesome right now.

Recently heard a first-hand story about a video producer in 2016 who was owed money for work delivered. The client wasn't able to make the payment by the deadline and offered to use a bitcoin (valued at around $8k USD) to make instant settlement. The producer turned it down and insisted on fiat for his work. Now in 2020 hindsight, he is kicking himself.

Is accepting non-traditional payment that crazy an idea? There is of course upside and downside. This is not a call for everyone to only deal in barter or coins. Just a call to get over the uncomfortable hump - to diversify and take reasonable risks - the goal is to live to fight another day.

2021 Plan C: Be open to alternative arrangements

Prediction 4: Targeted networking will be the way forward

No more in-person meetings or industry drinks night. Multiple user Zoom sessions doesn't work. Virtual conferences aren't helpful. Until herd immunity and/or mass vaccinations happen, nobody is meeting anybody new with any meaningful business purpose.

While our current interactions are futuristic, the basis is traditional. All contacts will have to be verified through online checks or introduced by a mutual contact. Credibility is paramount so those with a strong peer network will succeed. The easiest way to showcase this is through LinkedIn marketing.

Need intros? Check mutual contacts. Need validation? Check recommendations. Need to find their supervisor? Check company profile. You can send messages to almost any key decision maker to set up a meeting. Need to make your time worthwhile? Use Zoom basic for calls - only 40 mins free (which is all you need for any initial meeting to spit it out on why you should work together).

2021 Plan D: Up your LinkedIn game and leverage your networks

Prediction 5: Over saturation of influencer market

The influencer game is not easy - too many influencers with nothing to say, with too low a following to count, with too low engagement to actually influence any action. On the other spectrum, the bigger influencers with a following and engagement to be reckoned with are too expensive.

So instead of relying on others, why not take the effort to build an organic following. It is not building sand-castles in the sky, with sufficient time and relevant content, every business can be their own influencer.

Plus point is that you are in control of your marketing and not need to worry about competing brands or a scandal to plague the influencer.

2021 Plan E: Build your own following organically around content

In summary, my hope is that together may we be able to weather the sandstorms ahead. Farewell 2020 and Happy 2021 to you.