Brexit is a major shock for most of us and is resulting in so many questions from clients and industry leaders about the potential impact that it will have on their organisations. From European clients trying to break into the UK market, UK clients looking to expand into the EU and even US or APAC based companies selling in the UK - what is the likely impact?
It's hard to tell at this stage. Is it worth considering in your marketing planning? I'm not even sure anyone will be brave enough to trigger Article 50 after all the politicians fighting to leave are now dropping like flies. Who will want to have their name down in history as the prime minister to action it? I hope it doesn't happen.
In the meantime, marketing strategies need to be agreed for the short, medium and long term. Given the current uncertainty, it is not an easy task. Until negotiations start, there is nothing concrete to work on.
Not a lot of information is available on how marketing should develop future strategies. I did however come across a post on campaign by a former marketing VP at Unilever that suggests the six questions marketing leaders should be asking (read the full post below):
1. What do I do differently today?
2. What about the mid-term?
3. Should I change brand investment levels?
4. Should I change my capital investment plans?
5. Where should I base my team?
6. How should my brands reflect the mood of the nation?
My advice for now is to hold fire on any major marketing strategy decisions or plans until the dust has settled. Either way, it is business as usual for the next two years, hopefully a lot longer...
What do I do differently today? What about the mid-term? . Should I change brand investment levels? Should I change my capital investment plans? Where should I base my team? How should my brands reflect the mood of the nation?