SMEs see value of staffing up marketing teams
Small businesses better understand the role that marketing plays in helping take advantage of a post-recession landscape than larger companies, according to the Chartered Institute of Marketing’s Marketing Trends Survey 2010.
The survey reveals that small businesses are more likely to increase the number of marketers they employ in the coming months than larger companies.
According to the survey, 15% of businesses with a turnover of between £1m and £10m plan to increase the size of their marketing department in the next 12 months, compared to just 3% of companies with a turnover of between £50m and £100m.
Smaller companies are also more optimistic about their job security and prospects for growth in the coming 12 months than larger companies.
More than half (54%) of small businesses expect to grow and only 8% predict a decline in the next 12 months, while 20% of large businesses expect to be negatively affected by worsening economic conditions in the next year.
David Thorp (pictured), director of research and professional development at the CIM, says: “It is reassuring to see that small business has fared well in these difficult economic times. Marketing’s role is firmly in place in these organisations, showing that small businesses really dounderstand marketing.”
The results come as the quarterly Bellwether report shows that marketing budgets were revised down in the second quarter of this year.
- Check out Mary-Lou Costa’s opinion ’SMEs should have the smarts in regard to digital’ click here
