- 67% of SMEs have no marketing action plan
- More than half of businesses don’t have a business plan
- Only 25% of businesses have clearly defined marketing performance measures
A new study has revealed that a startling two-thirds of small and medium-sized enterprises (SMEs) in the UK lack a comprehensive marketing action plan. The research, conducted by Tofido, a marketing consultancy firm, highlights a concerning trend among SMEs in the country.
The study found that many SMEs are struggling to develop and implement effective marketing strategies, with 67% of businesses admitting to not having a clear action plan in place. This lack of direction and focus could be hindering the growth and success of these businesses in an increasingly competitive market.
Tofido’s research also identified a number of key areas where SMEs are falling short in their marketing efforts. These include a lack of understanding of their target audience, ineffective use of digital marketing channels, and a failure to measure the success of their marketing campaigns.
The findings from this study demonstrate the need for SMEs to prioritize and invest in their marketing efforts. With strong competition and ever-changing consumer behavior, having a solid marketing action plan is crucial for the success of any business, regardless of its size.
Tofido is urging SMEs to take action and seek the help of marketing professionals to develop and implement effective marketing strategies. By doing so, these businesses can position themselves for growth and success in the long term.
The study’s results should serve as a wake-up call for SMEs across the UK to reevaluate their marketing efforts and take steps to develop a comprehensive action plan that will help them stand out in a crowded marketplace.