Yougov data shows 31% of small and medium business leaders “agreed” when asked if they would be investing more in marketing, while 7% “strongly agreed”.
However, more than half said they would not be increasing their investment.
Despite low interest rates reducing costs for small and medium-sized businesses, falling demand has forced many to reduce prices, lowering margins and putting pressure on marketing budgets.
However, Beth de Avila, brand manager at Hewlett-Packard UK, which commissioned the research says the results show that a significant number of small and medium-sized businesses are not “panicking” in their attitudes to marketing.
“Previous recessions have shown that those businesses that market themselves well during fallow periods are significantly better positioned when the good times return,” she says.
YouGov polled 943 micro, small and medium-sized business owners between 10-12 June.
Source: http://www.marketingweek.co.uk
www.ukba.co.uk
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To get an effective impact for any marketing activity it is vital that you have a good understanding of your customers. This is an area where many SME's fal down, having never taken the time to sit down and work out who their customers really are and what it is that they really value in the offer. As a result marketing activities are poorly thought out and ineffective, leading to disappointing results. This really is an area where taking outside help can be a boon to the business
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