The Growth Amid Uncertainty Survey was completed by 135 entrepreneurs – and provides a snapshot of both short and medium term responses to Covid and the economic environment.
Whilst respondents were split between events, publishing and subscriptions models, there were consistent themes, says Collingwood Advisory.
- Audience focus has a high priority for respondents
- 75% of respondents have cut 2020 budgets
- However 92% of respondents have managed to avoid founder/director investment, partly due to uptake of government grants and loans
- 42% are planning new product launches in 2020
- Maximising sales and increasing audience focus are number 1 on the list of priorities
- Ultimate goal in 2020 is to maintain revenues and not lose money VS growth
Piers Bearne, founder and CEO of Collingwood Advisory, said: “The Growth Amid Uncertainty Survey has shown us how agile media entrepreneurs can be. We expected a certain level of pivot and product development intention, but not the high percentages we saw here.”
“Clearly our community is ready to look for new opportunities,” according to Bearne. “Our advice to independent media companies is to commit to change, but ensure that audience insights, planning and decision-making are undertaken in a rigorous and structured way. What’s most encouraging is the level of engagement we had with a growth-oriented survey - and the amount of positive feedback we’ve had from its readers.”
A summary pdf can be downloaded here.