UK firms keen to woo customers
In order to be successful in the world of business, companies have to make an impression on existing and potential customers. To help them do this, many organisations have complex marketing and PR strategies in place. For example, as well as typical advertising campaigns, a considerable number of firms offer corporate hospitality packages. This can prove to be an effective way of wooing new customers and retaining existing ones.
Spending on corporate hospitality events, as well as other forms of promotion, may be up at present. According to the latest IPA Bellwether survey, marketing spend increased during the third quarter of this year.
The report revealed that a net balance of 12.3 per cent of companies registered an increase in budgets over the three-month period. This was up from 7.3 per cent during the second quarter and was the fourth consecutive reading above zero.
Respondents to the IPA poll cited improved economic conditions and business revenues as factors that contributed to their raised marketing investment.
Commenting on the findings, IPA director general Paul Bainsfair said: “This latest Bellwether report will provide a welcome boost to our industry, building on last quarter’s results. It indicates that companies are beginning to move forward away from the recession and that the UK economy is on the rise again. This optimism will send a continued upbeat message to the advertising industry and the wider economy.”
Meanwhile, author of the report Chris Williamson added: “The Bellwether survey adds to the growing flow of upbeat data on the UK economy. Marketing spend looks set to rise sharply as companies boost their budgets to an extent not seen in the 13-year history of the survey. The increased appetite to spend on advertising and marketing is being fuelled by a surge in business optimism, with firms seeing their financial prospects to be the brightest for at least eight years.”
According to Mr Williamson, the findings are not only good news for the marketing industry, but also for the country’s broader economic recovery. He suggested that the fact that firms are spending again “in earnest” and the UK may finally see a “long awaited upturn in investment spending”, which will help to put the nation’s recovery onto a more sustainable footing.
There are many different ways in which firms can appeal to their target market. Whether they are engaging in TV or radio advertising, online marketing, PR initiatives such as sports hospitality events or anything else, the important thing is that they make the best possible impression.
Luckily, it is now simple for bosses to take advantage of top-quality hospitality packages. By heading online, they can access a host of options. As long as they think carefully about what would best suit the individuals they are attempting to impress, they should achieve the results they are after.
This autumn, managers may be especially keen to take advantage of the hospitality available at Twickenham. The Autumn Internationals provide an electrifying backdrop to these events. Meanwhile, the England team have been doing their bit to add to the events, winning their first two games.