Thursday, 28 March 2013

Spring forward?

The clocks go forward this weekend, it’s Easter and spring is here…..despite the depressing weather!

I love the time of year when everything starts to grow again after winter, the days get longer and (said with fingers firmly crossed) we start to feel the sun on our faces.  I wonder if the economy will revive itself as spring and summer arrives?

Today sees the release of a report from the Organisation for Economic Co-operation and Development (OECD), stating that Britain should avoid a triple-dip recession and that the global economy is looking more positive in general.  The Office for National Statistics (ONC) reported that the services sector grew by 0.3% month on month and 0.8% when compared against the same month in 2012. 

Peter Jones, of Dragons’ Den fame, must be feeling optimistic as he’s purchased Jessops from the administrator.  He says that he’ll streamline operations, reduce the number of shops and cut overheads.  Well, he’s the expert, but it’s a bit difficult to see how High Street shops can compete against cut price internet retailers in the camera and related technology sector.  Let’s hope he’s right and I’m wrong!  As a camera and photography addict myself I know that little compares with the hands on experience and advice you can get in a shop, so maybe that’s where the secret lies.

As we head – hopefully – towards greater and brighter things, we’ll all need to think about how we do our marketing and what we spend on it.  The question of how much money to dedicate to marketing is something Mr Jones will have firm views on I’m sure, but the average across all industries seems to come out around 4% of revenue (although in technology it can top 10%). 

An end to recession doesn’t necessarily mean an upturn in business.  If you want to be ahead of your competition and make the most of opportunities, think about how you communicate with your existing and potential customers.

Happy Easter!

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