Many companies are cutting back on their marketing budgets in these difficult times. Although this may seem like a good idea, history shows us that in times like this ‘fortune favours the brave’ and now is not the time to curb your marketing efforts. (See the research findings at the bottom of this page for more details.)
At K&H we are planning to grow in the next three years and, always keen to practise what we preach, we are investing in marketing in order to achieve our goals. Our investment focuses on our new website, the aim of which is to attract like-minded, ambitious owner managers – people who, like us, see opportunity in the current economic downturn.
We have encapsulated our philosophy in the phrase ‘Accountants for life’. This has two meanings of course: ‘for life’ means both for the long term and for all aspects of life. In a nutshell:
“We want lifelong relationships with our clients to help them grow and develop their businesses and their lives.”
One of the key features of the new website is that it is built using WordPress. WordPress is a fully functional Web 2.0 platform, originally developed as a blogging application, which allows full interactivity for users, e.g. the ability to post comments on as much of the website as we want. This allows users to drive the content to a certain extent to keep it current and topical.
Please post a comment giving me feedback on these ideas and the site in general. As ever, I promise to get back to you within one working day.
Our thanks go to our client Julian Sharples of S-Group for working with us to develop the new website.
Facts from past three recessions:
- 1974-1975 recession years: “Companies which did not cut marketing expenditures experienced higher sales and net income during those two years and the two years following than those companies which cut in either or both recession years.” (ABP/Meldurm & Fewsmith 1979 study)
- 1981-1982 recession years: “Business-to-business firms that maintained or increased their marketing expenditures during the 1981-1982 recession averaged significantly higher sales growth both during the recession and for the following three years than those which eliminated or decreased marketing.” (McGraw-Hill Research’s Laboratory of Advertising Performance)
- 1990-1991 recession years: “Firms that increased their budgets and took on new people were twice as likely to pick up market share.” (Management Review research of AMA member firms)