Turnover is up by 40.38% to £690,769 credited to Source Marketing Direct’s quality leads, according to a source
Outsourced direct marketing firm Source Marketing Direct has reported 40.38 per cent rise in pre-tax profits for the year to December 31, 2012. The London-based company’s managing director, Hector Montalvo announced: “We are thrilled with the progress we made in 2012 and are very excited to see how this year’s increased market reach will contribute to our financial records for 2013.”
Source Marketing Direct was established in London in 2008, and has since expanded into Hampshire, Bedfordshire, the Midlands, the North East, and Scotland. The event marketing and in-store promotions firm, which works with variety of big-name clients, recently announced their expansion into Norfolk and Merseyside. The East Anglian expansion took place last month, due in part to the region’s thriving business community. “We have seen a lot of growth in the five and a half years since we started in the UK and our aim is to have a presence in every major region in the UK before expanding into European markets,” says Hector Montalvo, managing director of Source Marketing Direct.
Source Marketing Direct’s healthy profits are not typical considering that the UK is still recovering from an economic crisis, and the firm was developed in the middle of a recession. Source Marketing Direct is amongst the 95% of firms in the European Union which are small businesses; however research from Silverleaf and Business Link shows that 20% of businesses fail within their first year, and 50% fold by year 3. Source Marketing Direct are interested to report that US-based data compiled from Entrepreneur Weekly and the Small Business Development Centre reveals that the main reasons businesses fail in the first 5 years are due to mismanagement. 46% of business failures were reported as due to ‘Incompetence’, 30% to ‘Lack of Managerial Experience’ and 11% to ‘Lack of Experience with Goods or Services’.
Source Marketing Direct has so far managed to avoid these pitfalls by effective planning, and by placing a premium on service. Managing director Hector Montalvo gained managerial experience in marketing and sales before founding Source Marketing Direct, and credits his business mentors for helping to keep the business on track. The Financial Times Guide to Business Start Ups reports that 20% of failed start-ups would still be in business after 2.5 years if they had sought advice from the beginning. However, Hector Montalvo considers the main reason for Source Marketing Direct’s success lies in the delivery of quality leads. “Our clients come back to us again and again because we provide them with quality, long-term customers. A great service successfully executed is essential to the long-term survival of a business.”
Source Marketing Direct provides business to business and events marketing services for blue-chip clients.