Monday 07 April 2008

Get recession marketing ready, SMEs told

Small and medium sized companies are not preparing their marketing strategies for an economic slump, according to a new report.

Following recent research by New Brand Vision Group, the organisation's managing director Ben Harris said that many businesses were not preparing for a recession, despite over two-thirds believing that one would occur this year.

"Many SMEs will not have been in business during the last recession and won't anticipate how they could be affected," he said.

"It's worrying that with so many firms expecting a downturn, so few are actually taking steps to plan for it. This 'wait and see' approach may weaken their position if and when a downturn does take hold."

The report revealed that SMEs felt that search engine optimisation, direct mail and updating their website would be the most effective forms of advertising if an economic slump occurred. However, only half of them were found to have updated their website in the last month.

"Businesses should be armed and ready with their marketing and other business materials prepared, so if the hard times do hit they can immediately become proactive in generating new business," added Mr Harris.

Category: Marketing campaigns

Technorati tags: marketing-campaigns recession marketing ready smes told