Cutting your marketing services and budget to save costs? You may as well stop your watch to save time.
While the writing had arguably been on the wall for some time, the collapse of retail giant Safestyle has been a shock to us all in the fenestration industry – not least to those 700 staff who have now lost their jobs. And this just a month after the same fate befell UKWDG, who were forced to shed almost 500 employees.
Various reasons have been ascribed to the collapse of these previously prosperous firms – inflation and the impact on raw materials prices, the cost of living crisis and poor consumer confidence among them. There is no doubt that we are all experiencing tough times, and when one of our own is suffering, we all feel that chill.
However, it is true that in business, crisis often leads to opportunity. A dip in sales affects the bigger players more acutely than it does the smaller ones. Safestyle and UKWD might have been manufacturing thousands of frames per week, but when times are tough economies of scale kick in and it can be very difficult for larger firms to meet overheads.
This is where smaller firms now find themselves at an advantage. Because they’re leaner and nimbler, they’re much better positioned to move into the vacuum created by a market that is contacting, especially for the bigger players. Smaller companies equal smaller overheads and better, quicker adaptation to fluctuating trends. It may well be that we’re witnessing a new era within our industry which will see newer, smaller firms consistently outflank larger and increasingly unwieldy rivals.
Whichever way the wind blows, one aspect really should remain consistent: investment in marketing. “Well, you would say that, wouldn’t you?” you might think. And we agree that these are tough times that bring to the surfaces many questions about where your budget should be spent. But if the temptation is to cut marketing….don’t. Why? Because if you do, you’ll lose your visibility in the marketplace, and if you do that you’ll be left on the touchline – or relegated altogether – while others barrel on ahead.
Marketing is a cornerstone of business growth. You might make the greatest product in the world but if no-one knows about it you may as well not be making it at all. In times of downturn – especially in times of downturn – it is vital to keep brand awareness up to retain your reputation. We know that there will be better times ahead and when they arrive you want to be in pole position to pick up those customers who’ve decided to go out and spend again.
That said, don’t throw money willy-nilly at a marketing campaign in the hope that something will stick. Marketing isn’t about shouting and screaming as loudly as possible until someone takes notice. It is a carefully calculated and steady approach that brings in customers and, more importantly, keeps them aboard. This approach helps to avoid what we call the ‘marketing wave’; those efforts that don’t follow a clear plan or a structure and only respond to market fluctuations.
Here at Purplex, we’re expert marketeers in the fenestration and glazing industry. During our lifetime we’ve seen large and small firms both thrive and decline, and we’ve gained unrivalled knowledge of how successful marketing should work when trading conditions are choppy.
We’ve worked with hundreds of companies to overcome turbulent times by utilising our 30 years’ industry experience to support those across the trade, retail and commercial sectors.
From offering expertise in digital marketing, PR, social media, video, web design and graphic design, our team of specialists focus on implementing strategies that will achieve the best results for any business, including boosting leads and increasing brand awareness to drive real growth.
It may seem like a daunting time but it’s not all doom and gloom. With the right marketing and business growth support in place, companies can get ahead to overcome these challenging times.
Get in touch today to find out how we can help to raise your business’ profile and generate a steady stream of new leads.