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 Grace Golden, head of client growth at full service digital marketing agency Purpose Media.
Without being too pessimistic, as I really hope the hype turns out to be more painful than the bite, I think most businesses will be addressing the threat of recession and reviewing their strategic plans.
As has been proven from past recessions, and indeed during Covid, those that treated their marketing budget as an investment rather than an overhead reaped the benefits – as long as the activity is focused and delivers a return on investment.
Bricks and mortar businesses that are proactive in implementing a digital marketing strategy will continue to lead their competitors, and I see no let-up in the demand for expertise in areas such as website content and SEO, social media, email marketing, video and PR as these are highly targeted activities that can be tracked and tweaked to get the desired results.
As businesses start to reach wider audiences using digital marketing strategies, they shouldn’t dismiss the opportunity for international trading. For those that take up the support and funding available for UK businesses trading overseas they can gain exposure, growth and diversify their business.
By following this constructive attitude these businesses should be able to thrive and not just survive, but I also think this approach sends positive vibes to clients and supply chain partners who will remain confident in their ability to continue to supply products and services.
So, whilst I think things will remain highly volatile, especially for high street businesses and larger businesses that might find it hard to react quickly, perhaps due to restrictive property leases etc, I think as long as most UK businesses continue to market themselves effectively they should be able to make the necessary adjustments to overheads simply because they can be more agile.
Finally, I think the energy crisis will continue to hit hard and we will see many businesses switch towards renewable energy and recycling to save the environment and reduce costs.
