While all industries face worrying times, it is more important than ever for those in the marketing industry, fighting for their share of voice, to remain at the top of their game.
There has been significant industry debate about the importance of spending marketing budgets wisely, and not cutting costs at a time when competition is at its most fierce. However, to a certain extent, marketing agencies remain at the mercy of their clients, as it is they who will have the final say on budget allocation.
Every day sees press reports of a worsening economic climate, and a gloomy view of business and consumer spend over the coming months -- how can marketing agencies protect themselves from financial uncertainty?
While general opinion is that maintaining marketing activity is necessary in order to stay afloat in a volatile environment, there is no guarantee that businesses will take this advice and continue to invest.
It is up to the marketing agencies themselves to fight off possible competition through delivering strong levels of client service, and proving that the direct marketing medium is a strong asset to clients. This involves performing well in terms of quality and innovation, and ensuring that all campaigns are accurately targeted, reaching a relevant and valuable customer base.
Another important offering is to help clients to understand their customers through accurate, clean data and data analysis, ensuring that the right message is delivered at the right time.
By streamlining operations and only targeting relevant customers, we can minimise wastage, improve response rates and maximise ROI. This can be supported by strict techniques and business solutions such as Lean and Six Sigma which introduce a solid structure to the business and maintain excellent levels of delivery and service, and cost effective solutions.
Direct marketing agencies can also create more opportunities for themselves and strengthen their market position by building up being green credentials and CSR policies. Cutting carbon emissions and running efficient processes will not only ensure that campaigns run smoothly on an operational basis, but will also raise the agency's profile, positioning them as pioneers within the industry.
Just as UK businesses should continue to invest in marketing to remain at the top of their game, so direct marketing agencies need to invest in innovation in order to remain competitive. New media should not be seen as a threat, but rather printers and DM providers should work with other suppliers to deliver the integrated communication solutions.
Being able to provide a fully integrated offering, working with different mediums, using accurate data to target the right customers, and delivering effective analysis of campaign results, will give companies a competitive edge in a crowded market.
While we can't control our clients' budgets and their investment in marketing, we can provide them with high levels of client service, value for money through clean, accurate data solutions, and an integrated offering.
Proving that the direct marketing medium works and is a valuable addition to any business is our strongest weapon against the unpredictable times ahead.
Lucy Edwards is Assistant Managing Director of Howard Hunt Group