Small and medium-sized businesses are becoming more serious about promoting their companies, the Chartered Institute of Marketing has claimed.
Smaller firms that have previously done little marketing are now realising its importance, according to the Institute, with marketing and communications workshops becoming increasingly popular.
“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,” said Geoff Hurst, the Institute’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.”
Companies are also keen to get a better understanding of how e-marketing can develop their business and profitability, the research suggested.
“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,” continued Hurst.
“But many companies and organisations are unsure how best to exploit this medium to get real value from their marketing investment.”
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