Presentation slides from the CIM event Think Big, Act Small where Steve Woolley presented the institutes findings on their research into: Business performance and confidence Attitudes and motivations of entrepreneurs and business owners Approaches to marketing – resourcing & skills Key challenges internally and externally Finding advice and support.

1. Think big, act small
Date 20 May 2015
Location Warwick University

2. Welcome and introductions
Dr Paul Connor
Chair CIM Midlands Region

3. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Housekeeping
Please set phones and tablets
on silent
Join in! This is an interactive
event, so speak up
Share your thoughts on Twitter
using #CIMSmallBiz15

4. SME insights – a CIM
perspective
Steve Woolly
External Affairs Manager CIM

5. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
What I’d like to share today
Why CIM is looking into the role of
marketing amongst entrepreneurs
and business owners
Some of the early findings from
our major research study
amongst this community
Some context for our
interactive panel discussion!

6. The role of marketing in
SMEs

7. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
 The UK Government recently published its 2014 small business survey results.
 It showed increased confidence since 2012: 73% are looking to grow, more have increased
turnover, and more are hiring staff.
 Most feel they're good at business strategy, yet only 28% say they are good at entering new
markets and just 44% think they are good at developing and introducing new or improved
products and services. Which is a bit of a worry when nearly 60% see competition as a major
barrier to success.
 It looks like marketing is needed to deliver those growth ambitions – yet only 7% are seeking
help.
Why we’re interested in these issues

8. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
 UK-based respondents
 Survey conducted by YouGov and ResearchNow
 More than 2,400 professionals surveyed over approximately six weeks
 2,000 are client-side professionals across a range of functions
 400 are marketing agencies and consultancies
Our research explored…
 Business performance and confidence
 Attitudes and motivations of entrepreneurs and business owners
 Approaches to marketing – resourcing & skills
 Key challenges internally and externally
 Finding advice and support
A little about our research

9. Early findings from the
research study

10. HEADLINE
WE’RE SEEING GROWING OPTIMISM AND
CONFIDENCE IN BUSINESS PERFORMANCE AND
TRADING CONDITIONS

11. More than half report
improved business
performance over the
last 12 months, and
over a third report a
stable trading
environment.
Newer businesses,
those with a B2B
focus and exporters
stand out as
strongest.

12. Looking ahead to the
next 12 months there
is even more
optimism, with
almost two thirds
predicting growth in
top-line performance.
This is particularly
positive as the
research was
conducted before the
General Election, with
all of the uncertainty
that can bring.

13. Looking over three
years, the positive
sentiment continues,
with seven out of ten
SMEs predicting
continued
improvement in
trading conditions.
Overall we see a
strong and growing
sense of optimism
about future
prospects

14. HEADLINE
THE MAJORITY OF SMEs ARE IN IT FOR THE LONG
TERM, FOCUSING ON STABILITY AND BUILDING A
SUSTAINABLE ENTERPRISE FOR THE FUTURE

15. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Sell-strategies and blue-chip ambitions don’t appeal
 Few organisations are looking for quick
routes to growth through exit plans or
sell-strategies.
 Equally, building the next big blue-chip
business lacks appeal.

16. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
SMEs are in it for the long-term
 Instead, stability and long-term
success is a major motivator.
 This is an important commitment to
economic and employment growth.
 A longer-term perspective is also
where marketing – done well by
professionals – can help to build
sustainable competitive advantage
through customer relationships and
brand development.

17. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Innovation and ethics are taken seriously
 It’s great news to see SMEs
recognising the importance of values
and responsible business behaviour.
 Positively, more than half of SMEs see
innovation as critical – and this is
where customer-centricity, insight and
professional marketing can both add
value and de-risk investments for
entrepreneurs and business owners.

18. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Stability doesn’t necessarily inhibit investment
 Half of our research participants value
maintaining current performance over
significant growth.
 Positively this doesn’t inhibit their
willingness to reinvest profits back into
the business to ensure a stable future.

19. HEADLINE
AGENCY USE TENDS TO BE AD HOC RATHER THAN
A PARTNERSHIP APPROACH, THOUGH SMEs ARE
CONFIDENT IN THEIR AGENCY CHOICES.

20. Price, a responsive approach to briefing and aligning with client needs, expertise and ‘chemistry’ are
the top five drivers of agency selection for SMEs.
“Ability to articulate ideas and plans in plain English without using buzzwords.”
“Easy to get on with, not trendy annoying types.”
“Ability to give us the right person.”
“Able to listen.”

21. Most SMEs avoid
retainers or on-going
fixed costs, preferring
to use agencies and
third parties on an ad
hoc, tactical basis.
Whilst potentially
more cost effective in
the short-term, this
loses the potential
benefits of a longer-
term partnership
approach with
agencies.

22. That being said, most
SMEs are confident in
their ability to find
and appoint the right
partner for a project.

23. HEADLINE
SMEs UNDERTAKE MOST ‘MARKETING’ ACTIVITIES
IN-HOUSE, LEAVING OUTSOURCING FOR COMMS
AND EXECUTION – BUT THERE’S A QUESTION OF
RISK OVER A LACK OF TRAINED AND QUALIFIED
PROFESSIONALS.

24. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Strategic marketing activities are largely done in-house

25. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Specialist and execution focused activities are more likely
to be outsourced to third parties

26. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
Reassuringly, SMEs take data compliance and CRM
seriously and largely retain this in-house

27. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
But the in-house resources undertaking these activities
lack experience, training and qualifications

28. CIM | BRILLIANT MARKETING IDEAS FOR AGILE BUSINESSES | MAY 2015
3-Month trial membership
Includes:
Access to Marketing Expert
Small business marketing online resources
Register Today
https://www.cim.co.uk/tbas/

29. Thank you for joining us!
Continue the conversation on Twitter with
@CIMinfo and #CIMSmallBiz15