While the media paints a post-apocalyptic picture of the UK’s business landscape - portraying the economic outlook as a barren grey vista with only downward red arrows to punctuate the gloom – there are in fact some fantastic business opportunities available, and with just a little digital marketing know-how, you will be able to take advantage of them.
Opportunity number 1: The insulation industry
Did you know that the average energy efficiency rating for a residential dwelling in the UK is D?[1] As we have all seen first-hand our energy bills rocket - and as the media has been truly diligent in reporting on the current cost of living crisis - it stands to reason that the insulation industry is going to experience huge demand in the coming weeks and months. And what do the firms that provide insulation need? Well, all the things that any business needs! Premises and vehicles, tea and coffee machines, toilet rolls, printers, pens, chairs, desks … if your business supplies a product or service that a business might need, you can supply to insulation companies.
That is all well and good we hear you say, but how can we reach these companies and won’t they be too busy to talk to us?
That is where a skilful approach to digital marketing is needed. Companies experiencing a boom are too busy to talk, and there is nothing a harassed office manager likes less than a cold call. But if the right chord is struck online … that is where the magic happens!
Opportunity number 2: It is going to be a calm and uplifting year
Before anyone bites our head off about the nationwide strikes currently strangling public services, or the cost of living, or the war in Ukraine or the record-breaking temperatures across Europe, or… or… hold on. What we were saying? Ah yes, a calming and reassuring year...
2023 is going to be great for business – markets will be buoyant, especially in the UK and EU, spending will rise and businesses will have increased need of your products and services. That may seem unlikely when looking through the murky prism that is the January blues but the outlook is great. Prices seem to have peaked[2], the war in Ukraine is likely to end[3], there is a tangible desire among businesses and consumers to be less reliant on China[4], and – apart from the local elections this May – there is little chance of political upheaval. 2023, more than any of the years in this decade so far, is going to be plain sailing for business.
Of course, a lack of stormy weather on the high seas of commerce does not necessarily equate to an untroubled voyage to the land of plenty – businesses need to catch a breeze. Without the tailwind of demand, no progress can be made. This again is where digital marketing comes into its own. Allow us to hoist for you a sail that will see your business horizons expanding as surely as if Magellan himself were at the helm.
Opportunity number 3: The booming EV market
Between a fifth and a quarter of all new car sales in the UK in each month are electric vehicles (EV)[5] . The EV revolution is here and there is no turning back. And, what is more, if you are an EV-sceptic then you should be better placed than any kale-munching, compost-toileting, eco-warrior to spot the business opportunities that this new-fangled technology brings; there are not enough charging stations and, when one can be found, it is likely that the chargers will be broken. We have all heard enough horror stories to know that the infrastructure is just not there to support EV owners. But what does that mean? It means there are businesses out there rushing to fill the new demand, busting a gut to produce the components for home chargers, the charging cables, the charging stations… there are engineering companies growing faster than a festive waistline, and their supply chains are being stretched more than the links can stand. As with the insulation industry, the EV world is a marketplace bursting with potential. If your business supplies products or services that other businesses use, then it is time to supercharge your reach and plug into the EV market.
Opportunity number 4: Fertiliser mining
Much like the plants that will soon be nourished by UK-produced potash, the fertiliser mining industry in the UK is set for huge growth in 2023. Population increase equals a need for more food, and without an expansion of farm land, the existing acreage needs to become more efficient. Massive mines like the Woodsmith Project in North Yorkshire[6] are producing the fertiliser that is needed to boost yields on farms not only in the UK but right across the world. The fertiliser industry is nothing to be sniffed at and your company can be a supplier to it, if your digital marketing is aligned correctly. If you are unsure where to sow the seeds of a digital campaign, please get in touch.
Opportunity number 5: The markets have started the year with a BIG BANG!
While 2022 saw global stocks and shares stutter – with markets seemingly reluctant to shake off their COVID-induced cautionary outlook – 2023 has started with a buoyant rush of devil-may-care fervour![7] The FTSE closed at the end of January 3rd a full 1.5% up, with some of the household names rising even further – Shell and BP both increased by 1.7%.
The business opportunity presented by an optimistic stock market might not be immediately apparent and that is because it might more accurately be termed a good omen (rather than an opportunity per se). This is far from some old Wall Street wives’ tale based on hunches and anecdotal evidence, there is a proven track record of the ‘first five days’ indicator predicting the economic outcome of the year ahead. This phenomenon can be dated back to 1950 - with the correlation rate between a successful first five days for the stock market and a successful year for business - an extremely consistent 80 per cent[8].
Conclusion
The outlook for 2023 is rosier than the doom-mongering press would have us believe. Whether you see the business opportunities ahead as requiring a precisely-targeted approach – if you plan to add your own link to the fertiliser industry supply chain for example; or if you see them as wider positives – a more bullish market and a greater sense of optimism in the national mood – the way you align your digital marketing now will have a crucial bearing on your success.
For help configuring a marketing budget to deliver the best possible success in 2023, contact us.
Sources
[1] Energey efficiency of housing (ONS)
[2] Signs that inflation has peaked (Spectator)
[3] Ukraine war will be over by spring (Sky)
[4] Bicycle manufacturer to move production
[5] EV market statistics (Zap Map).
[6] AngloAmerican
[7] First five days record of predicting year