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NEWS: SMEs plan to invest in marketing

UK SMEs across various sectors plan to invest time and money into marketing in 2014, according to a new survey conducted by Branded3 and Conference Genie.

Twenty-one per cent of SME’s within the finance sector said marketing and promotions were their top priority for 2014; dedicating he greatest amount of time improving their knowledge on this section of the business.

Twenty-six per cent of technology SMEs said they would be investing the greatest amount of money into marketing and promotions throughout 2014, with the biggest challenge within the technology sector retaining and boosting competitive USP’s.

SME’s within the travel sector also identified marketing and promotions as the area they are investing the greatest amount of time and money into in 2014.

Simon Prince, marketing manager at Conference Genie, said: “One of the most important things to consider when investing money into marketing and promotional strategies is to ensure that what you choose is right for your business.

“Marketing budgets for SMEs are no doubt limited, which is why it’s all the more important to spend the money wisely and invest in a marketing or promotional strategy that’s going to work for your particular business. With this in mind, it’s important to set out with an end goal, an objective and consider what you want your marketing strategy to achieve.”