This survey was conducted to gather information on how UK businesses have reacted to the Covid-19 crisis, how well prepared were they, how have they adapted their business for this unexpected period, where have they invested during the crisis, and do they think this will change how they do business in the future.
The Tech sector appears to have been well prepared for the COVID-19 crisis and is also positive about its ability to survive its economic effects. Notably, it still considers there to be possible improvements and is investing in online sales and marketing. As many would expect it to be at the forefront of any advancement in online activities, it demonstrates that no industry has reached a state of saturation with the advantages still available through digital channels.
The survey was conducted between 6th-9th May via the Google Survey online panel which is a Google business product that facilitates customised market research.
The survey collected data from 1660 participants in the UK, aged 25-64, out of which 694 were eligible for participation in the actual survey conducted. The gender breakdown was 51.4% male and 48.6% female.
Eligibility was determined via a question on the role of participants in business life and only those fulfilling the role of owner, partner, director, senior management or employees were allowed to participate in the survey.
In questions 5-8 the participants were shown a scale from 1-7, 1=Disagree 100%, 7=Agree 100%. In the analysis, those answering 1-2 were categorised as “Disagree”, 3-5 as “Indecisive” and 6-7 as “Agree”. These percentages were then aggregated at the bottom of each graph. These graphs are presented below.
The survey found that Owners/Partners are less satisfied with the actions taken by their company in order to survive the crisis. They also considered their business to be less prepared for the crisis than previously thought.
The data shows small companies being less proactive in adapting to the crisis and not viewing it as a catalyst for any significant change in their online operations, with medium and larger companies biasing to the alternate position.
The results of this question offer a remarkably interesting comparison. The Tech sector clearly outstrips other industries in their positive response to their investment in online sales and marketing. The difference between Tech at 59% and the next highest positive response rate, that of Financial Services (43%), is very significant (16%). When coupled with the results of the previous question, where the Tech sector was less in agreement about digitalisation, it would indicate a focused effort among those surveyed to concentrate resources in sales and marketing. Maybe the industry recognises an area for improvement, or perhaps it sees an opportunity to accelerate its growth as other industries also look to position themselves more strongly in an increasingly digital marketplace?
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