Total Marketing Solutions

Following on from the previous post (Time for marketing to drive growth?) which shows that marketing becomes even more important in difficult times, it’s interesting to see how businesses are reacting in different ways. Marks & Spencer have announced that they’re cutting their marketing spend by 20% following a huge drop in profits. Elsewhere it appears that many companies are shifting the focus of their marketing even if budgets aren’t being cut; according to this report by Gyro International, 83% of Marketing Directors are focusing on their current customers more than ever in the weaker economic climate and 51% are focusing on loyalty marketing.

Now this might seem like common sense - it’s a lots less risky to invest in marketing to customers who have already bought from you that to attempt to acquire new customers - but for many the ‘glamour’ of marketing is in the exciting advertising campaigns that they often generate.

It looks to me that what Marks and Spencer are actually announcing a cut in their advertising spend; we will surely find that the opportunities that Sir Stuart Rose is talking about - such as growing M&S Direct and investing in international business - will lead to increases in marketing in these areas.

One of the never-ending jobs of a marketing consultant is to reassure clients that marketing is more that just advertising. Given that so many marketing directors are investing in customer marketing and loyalty marketing, the message is clearly getting through to business. All that’s left is to get through to the headline writers.

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