Marketing shouldn't be a Luxury; it's not just about New Sales

A topic very true to my own heart having recently acquired the post as Marketing Coordinator for IIS and with a well established fascination and interest in all things marketing, I truly appreciate and advocate SMEs investing in marketing continuously and recognise it as a way they can turn the downturn into new business opportunities.

Bill Gates famously said that, if he was down to his last dollar, he would spend it on marketing. But, with the UK still stuck in a deep economic crisis, many companies are setting aside strategies for growth altogether and are intent solely on survival.

Global consultancy McKinsey & Co found companies that remained or emerged in the top quartile of their sample overspent their less successful peers by almost 10 per cent during recessions, while other studies have found that companies that increase their marketing spend in a recession recover three times faster when economic conditions normalise.

Marketing is not solely concerned with supporting sales objectives, it's about building and maintaining relationships and ensuring that your company and brand message remains consistent.

According to CIM there are six key reasons why committing to a marketing plan pays off in a downturn.
1.The alternative of heavy discounting could damage your company or brand reputation

2.Customers don’t stop buying, they just contemplate their purchases more than they might have and just need a little extra reassurance

3.Communication is vital, “out of sight” is potentially “out of mind”

4.Innovation is key; in order to survive shifting circumstances businesses need to adapt

5.Empathy is valued; incentivise and create loyalty schemes that demonstrate your understanding or your customers positions

6.Why not utilise the internet and the many free services and social networking platforms that are continually seeing rapid growth in their membership; gain insight, interact and promote your business on a large scale

Though it is claimed we are coming out of the recession, this advice stands whatever the weather. For the time being make the most of the quietness, retain your position and potentially gain competitive advantage!

Could Social Networking Really Be Bad for Business?

Could Social Networking Really Be Bad for Business?

My initial reaction when I saw this title was one of panic. Having just entered into the world of social media, and still feeling very much a novice in the field though excited by the prospects and marketing opportunities that are forthcoming the thought that it could potentially be bad for business was disquieting!

The whitepaper was brought to my attention via Messagelabs.com. Having had a read my initial worries where settled. The issues being highlighted were around control, security, potential web risks and taking employees with you. Not too make light of the issues but I decided to view them more as principal factors that should be considered, advice and tips when entering in to the world of social media for businesses.

View the full whitepaper at www.messagelabs.co.uk

Issues can be overcome when given due consideration and my own opinion is that the benefits far out way the risks.
The business opportunities are unprecedented. The use of blogs, forums and media portals have become important business tools and businesses are continually investing in and making use of the various social media sites which now exist. Benefits have been reaped including more innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business and higher revenues.

The challenge for businesses is how to embrace the new technologies while protecting their company’s reputation and defining a level of monitoring that fits in with the existing company ethos. Within an innovative, creative and flexible organisation, where core values and culture are deeply embedded and widely appreciated this really shouldn’t be an issue.

We need to be aware of the issues, as do all employees within the organisation. Advice and tips are continually being made available; we need to hasten and make use of it, or as much as we can assimilate!