Ideal Marketing Company Blog

penny wise - pound foolish?

Marketing ways out of recession

I read a YouGov survey recently which showed that small businesses plan to increase their marketing budgets over the next 12 months inspite of the current economic climate.

Marketing is important for SMEs in UK as in a survey of nearly 1,000 small business owners found that 38% plan to invest more in marketing.

SME’s can be shielded from recession by reducing external costs and consolidating suppliers. Further protection can be given by bringing in-house traditionally outsourced speciality tasks, such as production of marketing materials.

The survey by YouGov reveals that only 40% respondents will bring professional quality marketing material production in-house and only a quarter said they’d be unlikely to do so.

“The survey results highlight how businesses are looking to reduce external costs through bringing printing requirements in-house, with the ability to produce professional quality print material themselves, rather than through an external supplier,” said Officejet Brand Manager, HP UK, Beth de Avila.

The survey also reveals that 79% of those businesses that advertise rely on printed and online advertising as their primary means.

Added to the information given by the same survey 40% used print as their primary form of advertising and 7% were with event based advertising.

“These results highlight how UK business owners are not panicking in their attitudes to marketing during the current economic downturn, and are budgeting for the long term as well as the short,” added de Avila.
“Previous recessions have shown that those businesses that market themselves well during fallow periods are significantly better positioned when the good times return.”

It also showed that 13% respondents spend more than 80% of the company’s marketing budget on print advertising and 27% spent more than half.

The research was conducted by YouGov and surveyed 943 micro, small and medium sized business owners from 10th – 12th June 2009.

The end is nigh?

Is the recession almost over?  A Quarterly survey says so…

The the recession is about to end and UK‘s business confidence has risen to its highest level for a long time.
The reports from the Institute of Chartered Accountants in England and Wales (ICAEW) reveal that the economic outlook is improving.
Business Confidence Monitor shows that third-quarter GDP will rise 0.5%, breaking five quarters of declining output.

In a BCM survey of 1,000 senior businessmen on their economic confidence over the next 12 months 41% of them show more economic confidence about their prospects than the last year. BCM has seen its biggest quarterly rise since the third quarter of 2007. The most benefitted sectors include IT, banking, finance and insurance and property.
This suggests that the UK recession is at an end.  I have certainly noticed a marked upturn of both enquiries and results from existing clients. With economic outlook improving and BCM showing a rise in GDP, recession is likely to come to an end soon.

Sales Growth

Direct Marketing simulates Sales: Survey

With majority of recipients making a purchase, Direct Marketing remains one of the best ways of generating sales as figures suggest.

Almost three-quarters of people who received direct mail advertising from a business responded while the success rate for television was ten per cent lower according to ExactTarget’s 2009 Channel Preference Study.
Print media channels such as direct mail is more popular among younger people.

Robert Keitch, chief of membership and brand at the Direct Marketing Association, told the website: “Direct mail has long been the most effective of all direct marketing channels, which explains why the medium still accounts for 25 per cent of all direct marketing spend.”

Also the consumers are more likely to respond to direct mail promotions.

PMDG Marketing Communications is launching a direct mailing campaign to encourage more Mexicans to cross the border to shop in Texas, according to Business Wire.

I still think that direct marketing is the most effective of all marketing channels and is still popular among the youth. This survey shows further proof that it still works for improving sales.

Managers - are they trusted?

I was reading a survey the other day about how employees are loosing confidence in UK management.
According to the Chartered Institute of Management, almost 47% of the workers leave jobs due to bad management and 50% believe that they could do a better job than their current manager. Estimates say about 49% workers are ready to take a pay cut in order to work with better managers.
Ruth Spellman, CMI chief executive, said: “The figures reveal the depth of the crisis of confidence in UK management and leadership and the enormous toll bad management is taking on the UK economy and people’s wellbeing.”

To improve the management and leadership performance the CMI has launched a Manifesto for a Better Managed Britain.
A survey involving 3,000 adults conducted by OnePoll for CMI came out with interesting figures. Around 68% of the managers confessed that they would not like management roles at the start of their career. Only 28% of the managers carried a management qualification and 63% of the managers had no management training. Two in five admitted that they don’t want to be managers at all.

Spellman said: “It’s not surprising bad management is such an issue in the UK.  We invest less in our managers than our global competitors and it shows.  It’s telling that the majority of individuals never set out to manage people, and have not been trained to do so. If we’re going to stay competitive internationally, the government and employers need to address this worrying skills gap.  In what other profession would it be acceptable for only a quarter of practitioners to hold a professional qualification?  The sad truth is that UK managers are no longer regarded as professional, competent or accountable. By signing up to the Manifesto, policy makers, managers and leaders can demonstrate their commitment to raising UK plc’s game.”
The requirement for individual managers to demonstrate professionalism, and be role models has come out as a national priority. Employers are called upon to develop leaders who can work in a competitive, responsible and professional environment. More than 1,500 leaders, managers and organisations like Price Waterhouse Coopers and Interbrand have committed to CMI’s Manifesto.
I’d say that it is time that we gave more importance to training managers. This will go a long way in restoring employee confidence in management”.

Marketing Seminar Southampton

Marketing Seminar – Southampton

Thanks to everybody who came to my marketing seminars in Southampton this morning as part of the Venue Master annual event held in Southampton over a 3 day period.  Hope you found the marketing ideas useful and will take back a few ideas to help attract more new business leads.  Hope the rest of the event goes well and that you enjoy the keynote speech on Friday from Ruth Badger in the morning.  It was a lovely venue and it’s always a pleasure to speak to such a lovely audiance. I really enjoyed running thismarketing seminar in Southampton.