SMEs Get Serious About Marketing
| Date Added: Wed March 14 2007 |
Smaller businesses are taking marketing seriously, according to the Chartered Institute of Marketing. SMEs that have not invested in marketing in the past are recognising its value, according to the CIM, as marketing and communications workshops have hit a new high.
~Many small businesses and organisations are realising that there is a need to get serious when it comes to marketing their products or services, or in developing relationships with stakeholders and clients,~ says Geoff Hurst, the CIM's marketing director.
~As budgets remain tight, utilising existing staff is a sensible option for many of them, but very often they have little or no marketing training. All markets are so competitive now that organisations realise accurate segmentation and targeting are vital to give a better return for their investment, but they don't have the practical knowledge of how to put this into practice to achieve results.~
The advantages of e-marketing to the smaller business can result in a more cost-effective solution, a faster response and improved target market reach.
~This is a key development area in marketing as it is seen as cost-effective and faster, with the opportunity to reach a wider and more diverse audience but many companies and organisations are unsure how best to exploit this medium to get real value from their marketing investment,~ he continued. |
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