IDM issues 10-point formula for marketing firms

The Institute of Direct Marketing has issued a 10-point formula to help firms thrive in the recession, which will be discussed at the 2009 IDM B2B Marketing Conference on 31 March in London.

Neil Morris, deputy managing director of Institute of Direct Marketing (IDM), said: 'In order to sustain - and, more importantly, improve - marketing performance in 2009, businesses must ensure their marketers continue to have access to the knowledge and skills they need to deploy the latest techniques and up-to-date practices.

'They must draw on the latest innovations, underpinned by sound marketing principles that deliver optimised, measurable programmes.

'Our 10-point formula was devised while planning the 2009 IDM B2B Marketing Conference, and conference delegates will hear B2B experts examine the formula's recommendations in depth.

The IDM 10-point formula to survive and thrive during a recession: Make full use of today's ecosystem of influencers: optimise your marketing and communications by adapting them to all the influences and influencers that impact results.

Reinforce your brand values: focus on your core brand and service values, and build aggressively on them to sustain your brand's pre-eminence.

Stay on top of buyer-led markets: develop unrivalled intelligence and insight to ensure you remain best-placed to meet your customers' changing needs, behaviours and buying strategies.

Keep your eye on the long term: don't abandon your strategic marketing goals for the sake of short-term sales imperatives.

Arm yourself to protect your budgets: equip yourself with the ammunition to demonstrate and defend the contribution your marketing plans and programmes make to the long-term success of the business.

Embrace new ideas: don't squeeze out innovation - continue to experiment with and invest in new media, channels and modes of business.

Seek out new opportunities from existing programmes: look within your existing marketing and communications for new up-sell and cross-sell opportunities.

Review your metrics dashboard: ensure you have identified the relevant indicators and critical metrics that are fit for monitoring your marketing's performance in today's turbulent and dynamic marketplace.

Stay positive and plan offensively: commit your marketing and your team to a positive 'survive and thrive' attitude - and to coming out of recession ahead of the competition.

Make time for yourself: remember the importance and necessity of your own continuing professional development - don't get left behind while looking after the house.

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