Yesterday's budget side-stepped the real issues, the need to radically cut public spending and public sector employment…
Whilst the electorate will eventually take appropriate steps via the polls, NAMs & KAMs need to focus day-job activities on the here & now.
In other words really go back to basics.
Whilst the cliches abound, i.e. cut every cost (we have to assume everything possible has been cut), it is preferable to focus on making every £1 count…this means that if yours is a 10% net profit company, then every £10k spent on the customer needs incremental sales of £100k to justify the expense.
More importantly, it is crucial that your marketing colleagues re-assess your brand's pulling power with the consumer vs other brands and own label alternatives (try our Buying Mix Analysis tool for speed and consistency) and cut out the resulting 'me-toos' and passengers in the product portfolio.
Then apply the same technique to your customer portfolio to re-assess your appeal to each customer, using their latest financials..and form new trade partnerships.
These are radical moves, but yesterday the Chancellor proved that the problems are even more so.
Opportunities abound while others try to recover from shell-shock!!
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