Marketers struggling to reach target

Marketers face an uphill battle this year to reach sales targets, even those that have been revised, according to a survey from the Chartered Institute of Marketing (CIM).

CIM’s quarterly marketing trends report shows UK companies are planning for slower growth in sales, predicting a rise of 6.3 per cent this year, compared with the 8.3 per cent growth achieved in 2000.

This less-positive mood is reflected in a drop in marketers’ confidence. The CIM confidence index has fallen by 2.5 points to 89.3. This contrasts with last October, when the index hit 91.8, its highest level for five years – a sign that the UK economy had bounced back from the “post-millennium hangover” earlier in the year.

While CIM says the index remains above the levels associated with recession, almost half the marketers surveyed (46 per cent) describe their sales plans as “very challenging”. More than 50 per cent of marketers in larger organisations – those with an annual turnover of &£50m and above – also report their plans to be very challenging.

Prices look set to rise faster, by 0.8 per cent compared with 0.3 per cent in the last sales year, according to the CIM survey.