Is Your Business Missing Out On A Slice Of £120bn?

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It’s no secret that times are hard for Businesses and have been hard for several years now. But are small and medium sized enterprises hurting themselves through inaction? A New Report From Pitney Bowes Smart Essentials seems to suggest that, revealing that marketing for businesses can be disappointingly lax. In fact, the report revealed that only a third of all planned marketing activities even took place amongst the SMEs questioned. Never mind the fact that 1 in 10 did nothing at all.

Marketing: You Know It’s Important But…

Marketing is sometimes viewed as a mysterious beast, especially when the internet is involved. Do you know SEO? Do you know how to create dozens of social media pages and link them together? Do you know the latest online fad? Well, none of those things are really important if you’re looking to shape a business online. And marketing isn’t just the online stuff, promoting yourself in the real world is just as lucrative as it ever was. With so many opportunities it’s hard to see how businesses are missing out on the boost that marketing could give their business. Indeed, many of those questioned agreed that marketing plays a part in business success so what’s stopping them?

Business Owners And Their Roles

If you own a small or medium sized business then you may feel like you do the work of three employees. According to Pitney Bowes you’d be wrong: You do seven. When questioned, many business owners reported to be in charge of the IT, finance, business management, buying stationary, marketing, office repairs and cleaning. Some of these roles are surprisingly low level for a business owner and explains why businesses state that lack of time gets in the way of their marketing.

So What Can I Do?

If you’re a business owner who still does a range of low level roles then you’re losing time that could be devoted to growing your business. Taking on someone part time or an intern could be the break you need to bring your marketing plans to fruition. Marketing efforts can improve sales, which in turn could give you a slice of the £122bn that PB predicts as lost each year. Managing your time more effectively and giving your brand marketing the attention it deserves could help your business improve at a desirable rate.

Kelly Edwards works for Marler Haley and loves reading up on how to help small businesses grow! She makes crafty things in her spare time.