We enjoyed an informative session in Gateshead on Friday morning from the North East Chamber of Commerce. Below you’ll find the top takeaways from the event and our thoughts on how this affects marketing.
1. It’s taking longer for North East businesses to fill vacancies and finding individuals with the right skills can be difficult, which can also lead to higher wage demands from candidates. (From a recent survey from the British Chambers of Commerce and the North East Chamber of Commerce)
This is incredibly significant for employer branding and candidate engagement and demonstrates why recruitment needs to be supported with the right marketing to attract the talent required. In the words of Sam Wall, managing director of SEAO Talent Partners, “It’s not about break out areas and ball pools anymore, you need a robust and satisfying talent proposition to attract and retain the people you want.” (spoken at the event)
2. In the North East, we currently have a very similar proportion of working age population (16-65) to the national average (excluding London), but we have more older and fewer younger people.
Marketers need to bear in mind when planning activity for their target markets that the North East follows some national data, but our population is different in many ways. Any good marketer knows that location affects the consumption of marketing, its messaging, and its effectiveness. With more people over 65 than the national average, North East marketers must also remember to not only target ‘millennials’, as the older market which has high levels disposable income and more free time than those under 65 is often overlooked.
3. Our GVA per head is £20,338 vs £24,181 in England (excluding London) – which reflects productivity and proportion in employment in the North East.
Economists agree that the fundamental cause of lack of productivity growth can be found in innovation, both technological and organisational (Productivity whitepaper, We are IVE). Innovation can involve making existing products more efficient with new processes or technology, or creating new high-value products for markets.
And the way to create value for your market? Marketers need to do their research. Find out what the target market’s challenges are, what their routines or habits are, where they are and how they use your product or service or your competitors’ products or services. Then, you must innovate to solve their issues, or the issues they didn’t even know they had!
We have been members of the North East Chamber of Commerce for over five years and we highly recommend membership. If you’d like more details about what you can expect as a member visit neechamber.co.ukThis post was created on 15th July 2019