FireEdge Ltd prides themselves on being innovative and having the ability to evolve with the continually changing economy.
After opening up their business right as the United Kingdom entered a double dip recession, FireEdge Ltd has been successfully able to adapt to any of the challenges of the tough economy. During the double dip recession in 2010, Britain’s leading companies experienced market turmoil and a credit crunch because of government public spending cuts and a renewed economic downturn across the globe. During this time Britain’s net debt was extremely high at £842.9 billion, causing the government to cut spending and raise taxes. FireEdge Ltd, a Manchester based small business used their size to their advantage, they were able to adapt to the ever-changing economy. The benefits of being a small business allowed FireEdge to use a more hands-on approach and level with their customers. FireEdge Ltd responded to these market changes rapidly due to their knowledge of their customers needs gained personalised face-to-face interactions.
A face-to-face marketing approach assists FireEdge Ltd in gaining feedback from their customers, resulting in their ability to have consistent success during the UK’s economic troubles. ‘We think of our business as creative and innovative. We have worked very hard at keeping up to date with the changes within our market and have implemented strategies that have allowed us to evolve quickly. I credit our success to this. We started the company in the middle of one of the most difficult economy’s in recent history and are very proud of what we have been able to achieve thus far’, states Managing director Mike Adetona.
FireEdge Ltd consistently work on trend-spotting and focus on societal shifts to remain creative with their business strategies. The Managing Director believes recognising up-coming trends helps FireEdge Ltd to keep up on how the world is changing and where their business fits into those changes over time’. Societal shifts in demographics, attitudes, and priorities among customers can dramatically increase or decrease the demand for business, which is the drive behind the company’s success. Through these techniques, FireEdge Ltd is able to figure out what their customers are looking for and continue to come up with new ideas to satisfy them. FireEdge Ltd has found that failing to listen to what the market is telling a business ultimately leads to limited innovation. As well, relying on secondary market research instead of conducting it personally can hinder growth and prosperity. FireEdge Ltd’s is a strong believer in producing their own research through their face-to-face marketing strategy because it is proven that the customer has a strong interest and desire for interaction.
FireEdge Ltd’s believes their experience opening up a business during one of the worst recessions in the UK’s history has been vital in adapting to the perpetually transforming market.