Marketing after Brexit

marketing brexit

Marketing after Brexit

As I woke on the 24th June to the news that my country had voted for a brave new unknown world, rather than staying within a union that had brought challenges, but mostly prosperity and security to our little island, the first thing a business friend of mine did was put his PR and marketing agency on hold. Ouch. Like him, many Managing Directors are now forced into deciding on immediate changes to their businesses, while making provision for the uncertain economic times ahead.

When there is fear of a recession we see companies try and manage more themselves to reduce bottom line costs. Marketing spend is often the first thing to go, along with familiar comments such as “we can do without it for a while as we’re not sure it works anyway!” hovering around the networking circles.

So what now? Are we, the marketers, worried? Not at all. Smart businesses know that now is the time to take their marketing up a gear.

With consumers holding on tighter to their purse strings, brands will have to fight even harder to convince them to part with their cash, so your marketing should be the first thing to get some love and attention. That doesn’t necessarily mean you need to spend more, but certainly spending less will only help to slow your business. Look at where you are getting the best results and concentrate more on that. Be brutally honest about your marketing collateral – is it really up to the job or are you just using things up from an over order so it’s not ‘wasted’. Or was an opportunity wasted because your marketing is out of date or out of touch? An ‘it will do for now’ mentality is most definitely not going to get you any further forward, it will just mean in a few years you’ll be in the same place with your competitors way out front.

So my advice would be not to waste money on mediocre marketing or just stop doing it, but make sure every penny you do spend works as hard as it can.

Jo Downie – Director.