- Primary research from IBA International details how B2B organizations have already adjusted and are actively planning their recovery
- 86% of organizations are taking steps to adjust their product roadmap during COVID-19
- One third of U.S. companies would export goods/services to the UK if favorable trade deals are signed
- On-the-ground findings differ vastly from much of the business, political and academic commentary around COVID-19 and Brexit
November 12, 2020 – IBA International, a leading B2B marketing communications consultancy, today announced the findings of a primary research report on how B2B organizations are proactively adjusting to implement new ways to do business following the Covid-19 emergency and Brexit trading changes. The research which covered a weighted sample of over 1,000 B2B organizations found that many businesses have developed new solutions and switched their industry or product focus during lockdown and have an appetite to penetrate new international markets post-Brexit.
The vast majority (86%) of those surveyed have altered their product roadmap due to COVID-19, while just under a third are considering expanding into new geographies or industries. When asked about their reaction to Brexit, one in three (32%) of U.S. respondents said favorable trade deals with the UK would encourage them to do business there, with nearly a quarter (23%) citing low tariffs as another strong pull factor for exporting to the UK.
Data for the study was collected through Cint, the market research technology company that operates the world’s largest sample exchange. The study spanned hundreds of B2B organizations in various major industries across the UK, U.S., Australia and New Zealand between August and September 2020. A full copy of the report can be downloaded here: https://www.iba-international.com/b2bresearchreport1.shtml
“This data spotlights the adaptability and resilience of B2B organizations across the globe, as they react to the shock of COVID-19 and the impending uncertainty around Brexit,” said Judith Ingleton-Beer, CEO, IBA International. “Contrary to the predictions of some industry commentators, this research report shows B2B organizations are reacting to the current setback by unlocking new revenue streams through their product lines, industry focus and geographic targets.”
IBA International is the long-established strategic market communications consultancy division of Special Interest Publications Limited which was originally founded in 1966 as a pioneering publisher of leading technology and management publications. IBA’s experienced writing and engagement team offers clients a complete strategic consultancy for all aspects of international public relations. Working from a unique central delivery hub its own global database of 180,000 media and influencers, IBA has developed a unique capability to conduct highly effective communications campaigns at a fraction of the cost of traditional ‘bricks and mortar’ PR organizations. IBA clients range from leading communications and network organizations, global enterprise software vendors to advanced fintech and agritech organizations.