DSG

The Business Owners Club, hosted by accountancy practice Duncan Sheard Glass (DSG), met again this month and speaker, Martyn Best of Paver Smith, urged guests not to give in to the fear factor and reduce marketing spend - but instead to market smarter.

The Club meets on a quarterly basis to share experiences and get advice from leading business advisors about different elements of business management - from finance to marketing and HR to payroll.

Speaking at the event, Martyn said: "Research has shown that increasing your marketing during a tough economic climate puts you in a much stronger position once it's over.

"With customer spending slowing down, sales are much harder to convert. Now is certainly not the time to reduce or stop your marketing efforts. Instead companies should be finding innovative and cost-effective ways to reach their audiences.

"Customers will actively seek out those businesses which are still engaging with them and delivering messages that are relevant to their changing needs. It's vital to stay in tune with what your customers want.

"Some companies will batten down the hatches but smart operators will capitalise on the reduced competition as an opportunity for their messages to be heard louder and clearer than ever."

He concluded: "Planning ahead now is the key to success. Conducting a thorough review of your marketing strategy will stand a business in good stead through the downturn."

DSG's next Business Owners Club meeting will take place in May.