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Why the SME market needs more marketing support

SMEs make up a large portion of the UK’s economy. As a matter of fact, in terms of their quantity they make up almost all of it with government research stating that SMEs accounted for 99.9% of all private sector businesses in the UK in 2015. However, with so many SME businesses springing up around the UK, stats also reveal that over half of these SMEs (55%) don’t survive beyond 5 years.

Some of the most common reasons for small businesses failing have been noted as:

#1 Starting the business for the wrong reasons – being motivated solely by money or having no one to answer to

#2 Poor management – lacking the expertise in other areas of the business such as finance and recruitment

#3 Insufficient capital – decrease in bank lending and unrealistic expectations of revenue

#4 Poor Location – either too competitive or away from prime target market

#5 Lack of planning – not anticipating the demands required to succeed in terms of staff, marketing, sales and more.

While marketing can’t atone for all of the above reasons, it can certainly play its role in better managing certain aspects which are leading to businesses failing. A marketing strategy can help to identify potential issues that a business might face either internally or externally and also provide a solution for them.

What we often find at Opportunity Marketing is that many SMEs are set up by enthusiastic entrepreneurs who have a wealth of knowledge for the field they operate in but not necessarily in other aspects required to grow a business, with one of these being marketing.

Some SMEs don’t really even delve into marketing, and the ones that do are often restricted and guided by either the owner’s own interpretation of marketing or recommendations from agencies who manage to sell products and services which aren’t necessarily required. This often leads to large sums of money being splashed out on fancy websites and ads with little attention focused around what it should actually achieve.

The marketing knowledge gap in many SMEs is leading to money being outlaid on marketing activities in a scattergun fashion without any real focus being placed on tracking results. Frivolous spending like this is holding SMEs back, and while it may make them look good on the surface, the vast majority of these marketing activities are failing to generate the return on investment the company requires. This ultimately adds more pressure to an already reducing cash flow and inevitably the potential downfall of another business.

At Opportunity Marketing we have recognised their need for marketing support. Knowing where and how to spend a marketing budget is crucial today, more so than ever before. Do a Google search on ‘Marketing’ and you’ll find a countless number of marketing agencies offering all kinds of services, many of which specific companies may not even require (although they don’t know this). That’s why we focus on getting the strategy right first, and from this we then distinguish exactly what work needs doing and the return on investment our clients can expect from it.

As we can see, the potential need for marketing support across the UK is huge amongst SMEs and we are currently growing our network of franchisees to meet this demand from a larger number of clients around the UK. If you have a background in marketing and want to start working for yourself, why not join the Opportunity Marketing Franchise. Get in touch today to find out more and see if this is a role which is suited to you.

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Ian Kirk

Founder at Opportunity Marketing

Ian is the founder of Opportunity Marketing marketing, with over 18 years of experience in successfully setting up marketing departments, creating marketing strategies and implementing these strategies across a wide number of SME companies in both the B2B and B2C sectors through a variety of channels.

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LEEDS CHILDREN’S CHARITY


RESULT: 21% UPLIFT IN FUNDRAISING INCOME AND A MUCH WIDER AWARENESS OF THE CHARITY HAS SAFEGUARDED ITS FUTURE.

 

Scenario

The Leeds Children’s Holiday Camp Association was one of the oldest charities is Leeds, but was struggling to generate funds with low awareness and potential funding grants reducing.

Solution

Opportunity Marketing created a marketing strategy for the charity which involved a complete rebrand and a wider income focus on corporate and individual supporters and donators.

“Opportunity Marketing is a highly creative and inventive marketing company that has produced ideas and a strategy to promote and raise the profile of the business in the most effective manner. We have always found them to be friendly and efficient, whilst giving absolute priority to the best interests of the business.”

Verlie McCann
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PRESTIGE COURT

 

RESULT: 70% OCCUPANCY WITHIN 6 MONTHS AND 100% OCCUPANCY WITHIN 12 MONTHS.

 

Scenario

Prestige Court were a newly refurbished office provider on the outskirts of Leeds.  They had failed to fill a single office in 8 months of trading and the financial drain of the empty building on the landlord was reaching a critical stage.

Solution

Opportunity Marketing researched and analysed the marketplace and developed and implemented a marketing strategy to attract and convert a high number of clients to the offices.

“Opportunity Marketing helped us to identify our target market and clearly define our proposition.  I am pleased to say they delivered the results within the promised timescales.”

Pat Gilligan
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STAY SOURCED

 

RESULT: 45% SALES GROWTH OVER THE LAST 3 YEARS.

 

Scenario

Stay Sourced had been trading for three years within very difficult market conditions where many companies had been going out of business.  Stay Sourced were growing at a slow rate (6%) and were relying purely on referrals for new clients.  They needed to be proactive in order to achieve their ambitious growth plans.

Solution

Opportunity Marketing created a marketing plan, which clearly defined how Stay Sourced should be uniquely positioned in the marketplace and how to create a pipeline of new clients in addition to the organic growth it was achieving.

“We are delighted with the results Opportunity Marketing are achieving and, put simply, over the last 3 years, they have become our marketing department.”

Ben Rosenberg
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