Should you be worried about marketing in the lead up to Brexit?
For marketers, Brexit is both an opportunity and strategic risk. The potential issues continue to be conflict-ridden, as there is little to no agreement on how it will affect Britain or its economy.
For some, marketing budgets have risen and for others they have plummeted. Many businesses are reducing marketing budgets due to fears surrounding Brexit, particularly how it could affect inflation, trading across the European Union and the amount of business investment available.
However, if you want to continue to grow your business despite Brexit, decreasing or stopping your marketing activity is not a route we would recommend. Stay ahead of competitors by remaining consistently active and you can do this by following our top tips for successful marketing in the lead up to Brexit.
Look at your network of clients
Use them as ways to create referrals, simply ask them to think about your business and the services/products you offer, then spread the word to those you feel would benefit this, is one easy way to advertise without having to break your bank. Remember, if you do this for them they are likely to reciprocate – business is a two-way street.
Continue to network, but think outside of the office
By putting yourself out there and networking in person at events, it will raise your profile and lead to dazzling new opportunities. People like to put a face to a name, so research local events and seminars and book your place!
Interact with your existing customers as well as those you may have lost
Find a way to engage with them and discuss their needs as well as updating them in general. This way you can improve your services by identifying areas where you could improve, and you can potentially recover previous customers by informing them of what you can now offer them.
Expect an impact on consumer spending
Brexit will leave many customers with a smaller disposable income, so brace yourself for a decrease in sales. However, there are ways to combat this, you could include a promotion to draw customers in like offering a seasonal discount to loyal customers or a free consultation to new customers.
Look at how you interact with your clients, suppliers and potential customers
Each aspect of communication is a marketing opportunity, so check that you are selling yourself in the best way possible. For example, in your email footer, invoicing and how your telephone is answered.
Solidify trust with your customers
Engage with your customers and reassure them that despite political and economic changes, your relationship with them will remain the same. This will provide comfort and encouragement for the customer, which in turn will build trust.
Examine the cost of your suppliers
Search around for cheaper alternatives and if you are willing to pay up front, some suppliers could even offer you a discount.
Assess the past and present of your business
Note the positives and negatives, what has worked and what hasn’t and continue with what works. If it ain’t broke, don’t fix it!
Increase your value with the customer
Brexit can try to send you in a panic but try not to cut back so much that you lose money over an incredibly discounted service. Keep it together, your new objective is to provide a service of enhanced quality to attract new customers and satisfy those that you currently have.
Explore what makes you different to competitors
Keep your tone updated and fresh and use your USP to stand out and creatively sell your brand.
Communicate productively with staff
Focus on raising their spirits, not worrying them about Brexit. Express your appreciation for them, remain optimistic and your staff will use this positivity and gratitude in how they represent the business.