2021 CEO Survey

Mid-Market Companies

Mid-market CEOs Remain Laser-focused on Growth

2020 will not go down in the books as a stellar year of growth for the mid-market. Almost all of our reporting CEOs adjusted their growth expectations and over half reported declines in revenue. Of the third who did experience growth, the majority are technology companies, an industry that, perhaps not surprisingly, has been a growth outlier during the pandemic.

96%

of CEOs adjusted their revenue goals and targets due to COVID

Revenue Growth

58%

DECLINED

33%

INCREASE

MORE THAN 1/3

of companies surveyed took multiple actions in adjusting their sales and marketing functions, and as a result they outperformed other companies.

Top Priorities

for CEOs during COVID was Revenue Growth, followed by Customer Experience; Employee Wellness; Human Capital; and Virtual Teams.

Newport Insight

Who Grew in 2020 and How?

While middle market CEOs face economic uncertainty from the disruption brought about by the COVID-19 crisis, they are clearly focused on top-line growth.  Successful revenue growth will depend on how quickly organizations are capable of raising their game in order to provide a superb customer experience, from first prospect interaction through loyal repeat customer, both digital and physical.  Customer experience encompasses not only the marketing and sales functions, but depends heavily on product, product informational components, as well as organizational support and communications strategies.

Eric Jepsky
Partner, San Jose, CA

How Newport can help

Newport is a strategic business advisory firm, working with founders and CEOs of privately held, growth-stage companies to accelerate growth, improve performance, and successfully exit their businesses.

Men At Desk

© 2021 Newport, LLC | All rights reserved.

Who Grew in 2020 and How?

While middle market CEOs face economic uncertainty from the disruption brought about by the COVID-19 crisis, they are clearly focused on top-line growth.  Successful revenue growth will depend on how quickly organizations are capable of raising their game in order to provide a superb customer experience, from first prospect interaction through loyal repeat customer, both digital and physical.  Customer experience encompasses not only the marketing and sales functions, but depends heavily on product, product informational components, as well as organizational support and communications strategies.

Providing an integrated and seamless digital and physical marketing and sales face to prospects will become mandatory; those who are faster to adapt to this new reality will outperform, as supported by our survey data.  Leadership that is open to change and can deploy agile teams to deliver better customer experience will win.  While marketing and sales are in the midst of a digital transformation, it’s clear that focus is required on tighter integration between the two functions to more efficiently reach target segments, engage, and optimally support the customer journey.

Learn more about Newport’s approach to growth.

Eric Jepsky
Partner, San Jose, CA