Get ready for recovery
Is it? Isn’t it?
Will it? Won’t it?
Is the worst of the recession over and are we getting ready for the long awaited recovery? Who knows? If I did, I wouldn’t be writing this blog – I would be sitting on a beach in the Bahamas. In these times of uncertainly, if you can be sure of one thing- it’s the businesses that are prepared for the recovery that will most benefit from it. So what can you do to get your company ship shape to take advantage of all the undoubted opportunities that will be coming your way?
Here are our top ten heads up
1. Review – be honest dispassionate; look at where the business is now and where it needs to be in the future.
2. Cut supply cost – look at your whole supply chain: look for new suppliers offering better deals, re-negotiate with existing suppliers, and buy strategically with fewer suppliers rather than add hoc with lots.
3. Cash is king-tighten credit controls, use whatever leverage you can and monitor regularly.
4.Cut OK costs-concentrate on areas with the most savings, get staff ideas (they often are closes to spending waste) and be ruthless with “nice to have” costs.
5. Cut stock-keep your inventory to a minimum-convert old stock to cash, and reduce slow moving lines.
6. Staff-think outside the box regarding job roles and personnel. Keep and reward that add value to your business, and clean out those that don’t.
7. Processes- examine your procedures and invest in more efficient processes. Look for duplication and bottlenecks.
8. Outsource? A great way to make a fixed cost into a flexible one. But make sure it’s right for the business.
9. Location-not a realistic option for some businesses, but huge costs can be sauced by moving departments/functions abroad or even elsewhere in the UK.
10. Look after key customers-get closer to your customers, offer real value, and keep them interested and talking to you. Make judicial use of emailers, direct mail, face to face and sales promotion. The Corporate Gifts Co can supply executive incentives from; sterling silver to clocks and from USB drives to desk accessories. Call today on 0845 430 2902
Posts Tagged ‘sales promotion’
Get ready for recovery
Wednesday, September 2nd, 2009Christmas is coming
Friday, August 28th, 2009Christmas is coming Notebook and pen
Cone wine stopper
Champagne stopper
Carriage clock
Deco clock
City desk set
Puzzle globe
Handbag mirror
5 x7 photo frame
In these very uncertain times, there is still one thing we know for certain; Christmas will be here again on the 25th December! And whilst this has certainly not been a year to write home about, there will be still many companies sending (and receiving) corporate gifts this yuletide. The promotions market is, of course, much more sophisticated than a hamper or bottle of Bells at Christmas, nevertheless, Christmas is still the busiest time of the year with last minute decisions and turnarounds at break-neck speed.
Companies still want to recognise customers and staff at the end of the year by showing their appreciation and loyalty for the past and ushering in hope of prosperity in the New Year. Business gifts at Christmas are also a favourite for winning new customers too.
If chosen carefully, a desirable and appropriate promotional item branded with your logo will stay in the mind and on the desk long into the New Year.
The Corporate Gifts Company specialise in silver plated and leather items perfect for yuletide marketing and sales promotion. Our stock is held on site and carried out in –house so that we can achieve those impossible turn around times needed in the run up to the big day.
Be careful not to buy a cheap “stocking filler” promo give-away that will be discarded with the junk mail (so often a false economy that rarely delivers the desired results) but choose a truly memorable and desirable silver plated or leather gift. We offer some fantastic packaging options to compliment our gift box available as standard. All you need to do now is choose. Here are our ten top selling Christmas executive incentives (in no particular order.)
Fashion and fads in the recession
Wednesday, August 19th, 2009Fashion and fads in the recession.
There are some things that are recession proof such as food – we’ve all got to eat, of course. But for the majority of industries and businesses, the recession will have some adverse effects (some more than others). Right at the sharp end of these effects, however, are things that are subject to fashion, fads and crazes. In a recession, this year’s model is likely to fast become fodder for the scrap heap as quickly as you can say, “Quantitive Easing”.
Think of all the momentum built up behind eco–friendly and ethically sourced products; whilst we all still share the ideals that made this 2008’s hot topic, it’s rather slipped down the pecking order of our concerns as more immediate financial concerns and more pressing. And what about organic food – are huge growth area and a retail star in recent years? According to recent data, sales have taken a battering.
Imagine, then, how real fashion or fad items have fared now consumers are tightening their belts; fashion accessories, high tech gadgets, etc.
Sales promotion, too, has been hit hard. What holds up in recessionary times in sales promotion (as well as other markets) is tried and tested products, especially those with a classic style and high perceived value. Not only does it say; safe, it also feeds the desire and for a little bit luxury (much needed in hard times).
The Corporate Gifts Company specialise in premium incentives, particulary silver plated and sterling silver gifts diamond engraved with your corporate logo or promotional message.
Our products are classic with a timeless style; a reliable corporate gift solution with just the right amount of luxury and wow factor.
Marketing to Niche Markets
Wednesday, August 5th, 2009In today’s difficult economy many companies are seeing their traditional revenue streams shrinking. If there is one challenge to the sales promotion industry it is how to reach minority markets, currently estimated at about £400billion. Conventional marketing and promotional methods are not enough to capture those hard – to – reach minority markets This is made up of a range of markets including ethnic minorities, seniors and the LGBT community. A lot of the organisations have been unsure how to respond to these changes, opting instead for a, “one a size fits all,” generic approach.
During the recession, businesses should be investing in marketing strategies that target these diverse, groups through targeted products and messages.
An advantage of the promotional merchandise industry is that it provides the perfect platform for this short of approach to our increasingly diverse, cultural society. Promotional products and services can reach and engage with hard to reach audiences.
In terms of cost, promotional items and corporate gifts, can reduce wastage and maximise efficiency. According to the Office of National Statistics and Brand Choice;
1) Disposal income in the U.K ethnic minority market is access of £90 billion.
2) 18.7% of the U.K population is 65 and over.
3) 8% of the population in the U.K are ethnic communities.
4) 1/3 of businesses are owned and run by members of ethnic minorities.
A number of major brands already communicate well with ethnic groups in the U.K as part as their marketing, and PR strategies, such as Tesco and HSBC. They, have conducted specific very successful campaigns and built brand loyalty and revenue. Niche products tailored to meet specific needs, are also doing well.
In the good times, when budgets are generous and targets are perhaps less important, sales campaigns often are characterised by a scattergun approach – throwing spaghetti at the wall and hoping enough of it will stick. Obviously in a recession every marketing pounds or dollar needs to count and promotional items and corporate gifts can prove highly targeted and cost effective; different products can be chosen for each and target market with a range of branding techniques; from jewellery to keyings and flash drives .
