Business insurance holders who invest in marketing are more likely to survive the recession, a source reveals.
Richard Warrington, chief executive officer of First Protocol, claims his firm has been concentrating their spending on this area.
He warns that many boardrooms are not sufficiently focused on marketing due to concerns with lowering costs.
Business insurance holders are frequently too inward-focusing and are too worried about immediate survival to plan ahead, he suggests.
Mr Warrington states: "Companies that spend money on marketing in the downturn are likely to survive and we need to do that ourselves as well as getting our clients to do it."
He also suggests that business insurance holders should spend on their sales teams, continuing to send operatives to meet potential buyers face-to-face.
Recent research by Eventia shows that clients are increasingly scrutinising the financial stabilities of their agencies and there is a rising demand for added value.
