High Growth Firms Spend Limited Budgets Differently From Lower Growth Peers

Just read a study that shows that high growth firms in professional services categories invested in marketing activities very differently from their lagging peers. Here’s how it breaks down:

High Growth Firms put more emphasis on:

  • Building awareness through advertising and PR
  • Lead generation through channels such as direct mail, cold calls, trade shows and newsletters
  • Web site upgrades
  • Outside marketing experts and consultants
  • Training and using non-marketing staff to generate business.

Low Growth Firms were more likely to:

  • Have no formal marketing plan
  • Revise their strategy, structure or budget
  • Focus on thought leadership activities such as publishing and workshops

The 2008 study by Hinge  broke down companies by size and industry. The above trends were across the board.


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