It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Mark Jennison, Director of Marketing and Business Development at Cosy Garden Rooms. At the end of 2022, moving towards 2023, we were predicting a business target to survive what we thought was going to be a volatile year. There was little talk of growth, what with the economic climate due to the continuing conflict that had already driven fuel prices up and consequently increased interest rates. Those predictions were correct and 2023 saw many companies fall by the wayside, a consequence of the consumer feeling the pinch and tightening their belts. And here we are again, making predictions for 2024 and, on the whole, it is much the same but with increased optimism. In 2023, at Cosy Garden Rooms, we used our business agility to keep running costs low to combat the higher raw material prices and still offer great value to our customers. There are signs that as we enter the new year, those material prices will start to return to where we would expect them to be. There are also more companies offering a range of new products on the market and this competition is good for those in construction and for the consumer who is looking for innovative and sustainable designs for their garden rooms. It was also notable that towards the end 2023, more consumers were asking about finance in order to enable them to either purchase their garden room or maybe get something a little better than they would otherwise be able to afford. This is a great sign that the market is feeling more confident in the future and looking to invest in their property. This trend of investing in what you have has been buoyed by the falling house prices and a reluctance to move. This includes people asking about and building small garden room annexes for a relative to live in or a garden office, to free up that much needed spare room in the house. This is where a good quality garden room that can be used all year round really matters. We also predict that 2024 will see an increase in alternative markets such as schools and universities that find the demands on their existing spaces easily solved by the addition of outbuilding built on site. Adding a bespoke building is quick, affordable and designed to meet the needs of the establishment, including accessibility for all. In general, the feeling for 2024 is that business will grow and we will see that companies such as Cosy Garden Rooms, that offer innovative quality products and services, will not just survive, but thrive. 2023 was a wake up call for many, and the end for others. 2024 will see those that have adapted start to benefit from their hard work.

Derby Museums is making significant updates to one of its cherished sites, Pickford’s House. A Grade I listed building erected in 1770 by prominent architect Joseph Pickford, the museum has been a living testament to Georgian life and fashion since 1988. With thanks to funding awarded by the Department for Culture, Media & Sport (DCMS) and The Wolfson Foundation through the DCMS/Wolfson Museums and Galleries Improvement Fund, Pickford’s House will undergo a comprehensive facelift from spring 2024, with each room receiving new interpretation, displays, and more immersive layout exhibits. These enhancements aim to elevate the visitor experience and offer a fresh perspective on the rich history encapsulated within the walls of this architectural gem. Among the notable updates to the project, Glowfrog Video Production (www.glowfrogvideo.com) have offered their services pro-bono to create a captivating welcome video for the museum. This video will provide an engaging overview of the house’s history and cater to disabled visitors who may face accessibility challenges, ensuring an inclusive experience for all. Matt Middleton, Director at Glowfrog Video Production, expressed his enthusiasm for the project, stating: “Offering our services pro-bono for Pickford’s House aligns with our core values of supporting local community, and I’m particularly excited about this project given that Pickford’s is a site I’ve visited countless times over the last thirty years or so. “It will be fantastic to provide a welcome video for all visitors to the museum, offering a deeper insight into its history and local significance.” Jennifer Cuadrado, Director of Development at Derby Museums, emphasised the importance of these updates, saying: “These updates represent a significant stride in our mission to make history come alive for our diverse audience. “These enhancements, including the welcome video offered by Glowfrog, not only preserve the architectural and cultural legacy of Pickford’s House but also align with our broader mission of making history accessible to diverse audiences.” Laura Phillips, Head of Interpretation and Display at Derby Museums, added: “The meticulous curation of each room at Pickford’s House reflects our commitment to preserving and presenting history in an engaging manner. “Glowfrog’s offer to create an inclusive experience through the welcome video resonates with our vision of making the museum accessible to all.” As a gesture of appreciation and recognition, Derby Museums encourages local businesses to explore Glowfrog Video Production’s website at www.glowfrogvideo.com for more information about their award-winning video production services. About Glowfrog Video Production: Glowfrog Video Production is a leading video production company based in Derby, known for its innovative and high-quality services. With a commitment to community involvement, Glowfrog takes pride in supporting local initiatives and contributing to the cultural enrichment of the region. If your business is looking for award-winning videography services, visit www.glowfrogvideo.com.  About Derby Museums: Founded in 2012, Derby Museums is an independent charitable trust that manages three museums in the city, the Museum and Art Gallery, Pickford’s House and the new Museum of Making at Derby Silk Mill and holds and curates all the art and collections within them, including the world’s largest collection of paintings by Joseph Wright of Derby. Derby Museums inspires all generations to be makers, artists and thinkers. It aims to bring as many of the objects and treasures in the collections into the public domain as possible and to present them in ways that delight and inspire via education and learning programmes, events and exhibitions, in order to share knowledge and inspire creativity and making amongst the people of Derby. As a charitable trust, Derby Museums relies on funding and grants from organisations, as well as donations from businesses and the general public, all of which is gratefully received in order to ensure that admission to the museums remains free for all. It is also a National Portfolio Organisation supported by Arts Council England. Last year, Derby Museums’ Museum of Making was selected as one of five finalists for Art Fund Museum of the Year Award 2022, the world’s largest museum prize. www.artfund.org/museum-of-the-year   derbymuseums.org About the DCMS/Wolfson Museums and Galleries Improvement Fund: The DCMS/Wolfson Museums and Galleries Improvement Fund provides capital funding for museums and galleries across England to improve displays, protect collections and make exhibitions more accessible to visitors. In 2022-24, DCMS and the Wolfson Foundation each contribute £2 million to the Fund, which has benefitted more than 400 projects in its 20-year history.   About the Wolfson Foundation: The Wolfson Foundation is an independent charity with a focus on research and education. Its aim is to support civil society by investing in excellent projects in science, health, heritage, humanities and the arts. Since it was established in 1955, some £1 billion (£2 billion in real terms) has been awarded to more than 12,000 projects throughout the UK, all on the basis of expert review.

Mansfield is to receive £20m in levelling up funding to improve the town centre and its connectivity, support residents in the most deprived areas and to support businesses to grow all regions of our economy. The investment is made up of:

• £7.4m to remodel the Bellamy and Oak Tree estates and improve housing quality and access to services
• £5m to Mansfield Connect as an exemplar low carbon construction project and for hands-on skills training for retrofit and modern methods of construction in partnership with Vision West Nottinghamshire College and Nottingham Trent University
• £3.2m for a youth centre on the Bellamy estate to help divert young people from crime and anti-social behaviour.
• £2m for streetscaping and public realm improvements in the centre of Mansfield to make the town centre more appealing.
• £2m for improvements to Sainsbury’s junction, a local traffic pinch-point affecting connectivity into the town centre
• £300,000 for the refurbishment of South Mansfield Family Hubs to make them more appropriate for family and youth support
• £250,000 for a school readiness pilot run by Nottingham Trent University in some of Mansfield’s most deprived neighbourhoods
• £250,000 of capacity funding for Mansfield District Council to identity its unique economic and cultural opportunities in preparation for the establishment of the new devolution deal in the East Midlands.

Andrew Abrahams, Executive Mayor of Mansfield District Council, said: “Mansfield is set to receive investment that will make a huge difference to communities and help to deliver some of our place-shaping aspirations for the district.  Through Levelling Up we are investing in people and places to make a brighter future for the residents of Mansfield. These projects will bring life-changing opportunities that will make a real difference in some of our most deprived areas. “We’re pleased to be able to finally announce the full funding package for Mansfield, coupled with the Town’s Fund and Long-Term deal for Towns, the district is set to benefit from substantial amounts of much-needed funding to help build thriving communities, grow a more vibrant economy and a place where people are supported to be happy and healthy.”

It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Larraine Boorman, Chief Executive of Leicester-headquartered Optima UK, the recruitment, training, and business advisory firm. For some, 2023 was a year of getting back to normal after economic turmoil largely down to the COVID pandemic. But, we have also seen a year that has been impacted by the war in Ukraine. Next year we will have a general election and no doubt that too will play its part. That said, business deals are still being done, companies are still moving forward, people are being innovative and new revenue streams are being opened up. The future is bright for sectors such as manufacturing, engineering, and professional services. There are a number of exciting things happening in the East Midlands and beyond, so we firmly believe that 2024 will be a year of growth for businesses. Because of this, getting talented people on board will be a high priority but will continue to be one of the biggest challenges. High-calibre candidates are in great demand, so an organisation needs to be able to offer a competitive salary and suitable benefits that attract the right people. It’s not always easy to get this absolutely right, particularly if, like many businesses of course, you have a million and one things to do on a daily basis, but looking internally and externally will be key. Training, and wellbeing programmes, will be paramount in 2024 as more and more people recognise that getting these elements right will help them to achieve their goals. People who are experts in their field, like our recruitment and training consultants, will be worth their weight in gold more than ever before.

With video now being the most popular digital marketing tool, your company’s video content needs to be as professional as you want to appear – not only to impress customers and create sales, but also to keep up with your competitors.

There is a direct correlation between the quality of your video marketing and how well customers perceive your business. Video marketing is becoming more and more essential, so it’s important to do it well in 2024. Here are some big reasons why you should consider hiring a professional video production company to promote your company effectively.

Staying relevant

Over the last few years, there has been a 63% increase in the number of businesses that use video as their primary form of promotion.[1] If you aren’t keeping up with your competitors and staying relevant by posting slick, well-produced videos, your company is at a serious disadvantage.

Video is not only a great means to inform people about why they should buy your products or services, but you now actually need to be posting great videos to even get noticed amongst the competition. Don’t get left behind. To achieve the necessary level of high quality, you should really consider hiring a production company.

Cost benefit

It’s easy to assume that it isn’t worth the money to hire a professional video company, when you consider that filming on a phone doesn’t cost you anything. But it actually costs a lot more than you think.

Your ‘homemade’ looking videos are damaging your company’s image and reputation, ultimately affecting your bottom line when potential customers look elsewhere and buy from a competitor who seem more professional in their videos. Conversely, investing in high quality video marketing could be the trigger for big growth in your company this year.

Great return on investment

Your ROI for this form of marketing will be determined by the quality of your videos and how effectively your message is conveyed. In a survey, 86% of marketing professionals reported that they used video as a marketing tool – 78% of which considered videos to be responsible for a direct increase in sales.[2]

Let’s look at a representative example to illustrate the ROI you might achieve.

If the promoted product retails at £30 and the promotional video is seen by 50,000 potential customers, just a 1% conversion rate would create sales of £15,000.

Assuming that a professionally-produced marketing video might cost around £2,000 to create and promote, and you gross £8,000 on the £15,000 of sales, that leaves you with £6,000 that you wouldn’t otherwise have had.

Extrapolate this over a range of products/services, with higher retail prices, more video views, and/or a higher conversion rate, and this explains why so many marketers are hiring professional video production companies.

Boost your sales

Seeing your product in action, or a video about how your service works, makes potential customers much more likely to buy.

Video is naturally much more enticing and engaging for a viewer, as compared with still images.

Unsurprisingly, around 8 in every 10 professional marketing videos have a positive impact on conversion rates and sales figures.[3]

In fact, your website visitors are 85% more likely to buy after watching a high-quality sales video.[4]

Professional brand image

If you want your company to appear professional and win more sales through video marketing, there is absolutely no reason why you should be filming on a phone. Attempting to film on a phone leads to a ‘homemade’ and amateur look, especially if the person filming has little to no knowledge of professional videography. This in turn presents your company as amateur, small or unprofessional.

Even the greatest phone camera will struggle to compete with professional filming equipment. Unsteady shots, badly faked shallow depth, wrong frame rates, visual noise, uncontrolled focus shifting, terrible lighting, poor quality audio. These are just some of the many issues that top gear and knowledge can overcome – meaning your videos will be more effective and pleasing for customers to watch.

Another often underestimated factor in producing professional videos is the amount of time and expertise required for editing. Post production often takes a lot longer than the filming itself and requires years of practice to become highly skilled at. The video is ultimately a representation of your company, so the editing needs to be superb. You can see, therefore, how hiring a video company is a must if you want to achieve more sales and the correct brand image.

Effective time management

We’ve only covered a few aspects in this article but you can already get the sense that a lot of time goes into producing great video marketing content.

With time at such a premium in our fast moving business world, just the fact that you can save so much of it is a fundamental reason why you should hire a video production company. You can free yourself to focus on other aspects of your business, while professionals deal with your video marketing.

Which video production company should I choose?

There are many to choose from, but it’s wise to hire a video production company that specialises in video marketing and corporate videography, such as Glowfrog. This way, you know they have the skills necessary to do an effective job for your business.

Sources: 1. WyzOwl.com 2. TheSocialShepherd.com 3. G2.com 4. Wix.com

A fall in consumer numbers and spending remains a top concern for Midlands businesses, as companies brace themselves for a challenging first quarter of 2024, according to accountancy and business advisory firm, BDO.

BDO LLP’s latest bi-monthly Economic Engine survey of 500 mid-market businesses, revealed that 44% of regional businesses rank dwindling customer numbers and a reduction in spending as one of the biggest challenges facing their business over the next six months, as inflation and the high cost of living continue to hit customer pockets.

The regional trend is also mirrored in the retail sector, with more than a third (37%) of retailers placing this as their number one concern.

It follows the latest BDO High Street Tracker that shows total like-for-like retail sales were negative in the last three months of 2023, the so-called ‘Golden Quarter’, pulled down by poor store and non-store fashion sales, as customers held back on their discretionary spend.

The survey of mid-sized businesses also showed that supply chain pressure, exacerbated by geopolitical events and staff and skills shortages, is still proving to be a thorn in the side of Midlands businesses, with more than half of regional companies (54%) admitting it will be their biggest challenge in the first half of 2024.

A quarter (25%) ranked difficulty accessing capital, such as bank loans and venture capital, as one of their top concerns.

Kyla Bellingall, regional managing partner of BDO in the Midlands, said: “There are a number of enduring themes that continue to blight Midlands businesses, centring predominantly reduced customer spending, supply chains, and the cost of doing business.

“While these will remain a cause for concern in the coming months, in the longer-term it is the crippling costs of borrowing that will significantly hamper growth. Unsurprisingly, high monthly loan repayments are proving to be a significant concern for Midlands businesses, with many calling on the Government for greater support.

“The Government should ensure it focuses on regulatory changes to tackle difficulty accessing capital, as well as providing greater financial incentives that are specifically targeted at mid-sized businesses, whose growth will play a key role in the overall economic recovery of the UK.”

Despite the ongoing pressures facing Midlands businesses, almost all (84%) of regional companies said they had achieved forecasted growth in 2023. When asked what steps they intended to take to help drive growth in 2024, more than a quarter (28%) of regional businesses said they plan to reduce the physical footprint of their business, with 26% intending to seek new funding to refinance or pay down debt. A quarter (25%) have set their sights on investing in retraining or reskilling employees.

Bellingall added: “While the outlook is beginning to improve, with inflation heading in the right direction, there is still a huge amount of uncertainty on the horizon. 2024 will throw up its own challenges, in the form of potential political change and more economic volatility.

“As such, businesses in the region must clearly define their priorities in the coming months, while continuing to address ongoing challenges.”