Almost 40% of new companies do not have a marketing plan and almost half of new businesses launch without any form of marketing or advertising budget. Most worryingly, almost 1 in 3 new businesses don’t understand what marketing is or what role it plays for new companies.
A recent survey of 3,081 UK business owners shows that almost 40% of start-up companies have no marketing plan and almost 50% of businesses launch without any form of marketing or advertising.
These statistics may explain why almost half of new companies fail within their first year of trade and only 1 in 4 companies will survive beyond year four.
The survey was conducted by www.ProjectWORD.co.uk, an online business directory, which enables companies to purchase key words that can be directly linked to their website and therefore increasing (the ways for them to be found in Google.
The survey they conducted found that a huge percentage of new companies were unaware of the benefits of marketing, and out of the 50% who had or planned no form of marketing to assist with their launch, 36% said they would rely purely on word of mouth to make a success of their company.
Jamie Delo, founder of Project W.O.R.D, comments on the recent findings;
“These statistics establish the downfall of many new companies that just assume consumers will have heard of their website. When, in reality, thousands of companies are failing every year due to lack of marketing.”
www.ProjectWORD.co.uk was created to assist with the success of businesses by providing marketing at an affordable price. For just £1.00 per word, companies can select relevant Keywords and Project W.O.R.D can link their website directly to their chosen word/s; allowing companies with a very small marketing budget to be found easily through Google; a key factor in online business success.
This innovative new site hopes to decrease the number of companies failing due to lack of understanding of marketing and advertising and so far over 4,500 words have been bought by different companies in the first 2 months.
The survey, completed by over 3,080 UK business owners reflects the growing concern for the UK economy and the survival of new companies.
For more information or to arrange an interview with someone from the Project W.O.R.D team, contact Emma, 10 Yetis Public Relations Agency, Emma@10yetis.co.uk, 01452 348211
Project W.O.R.D was launched in May 2008, with a new and updated version launched in August 2008.
Owner Jamie Delo and his business partner Sophia Luisada, both based in Shropshire, have a history of computer science and design management.
Project W.O.R.D is based around a fun and innovative concept of linking keywords to a website
Keywords cost £1.00 per word and exclusive to that buyer. The keyword ‘belongs’ to that buyer for life.
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