Four takeaways from Brexitland
- 19 January 2017
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Forget the politics and the timescale, marketing is already adapting to the Brexit rollout. Here are four choices made by organisations after the referendum that marketers should take notice of.
1. Sticking to the rules
Until we hear otherwise, the same EU regulations apply to Britain, and may continue to apply after Britain leaves. This is particularly true for marketers working across UK and European markets.
All responsible organisations are still committed to following the directives on, for example, Misleading and Comparative Advertising.
2. Preparing for price changes
Recognising that grocery prices may go up because of the weak pound, supermarkets are turning away from marketing on prices (already made tougher by the advent of Lidl, Aldi et al) and towards brand values. For an example, see Tesco’s new ‘Food Love Stories’ series of adverts.
Focusing only on price has always carried risk for marketers, so finding an alternative could be a clever strategy in the months to come.
3. Relying on history
Britain has plenty of world-famous cultural figures to fall back on – from Sherlock Holmes (and Benedict Cumberbatch) to the Rolling Stones and the Royal Family. Britain’s image as part of Europe may have taken a hit, but Brand Britain and these figures could be a good way for ‘heritage’ British brands to remain popular abroad, as well as at home.
The UK government has been taking the lead on this, using everything from McLaren to Shakespeare as part of the GREAT Britain campaign – which is also about helping British companies sell abroad to sustain a post-Brexit economy. Perhaps this could help your organisation too?
4. Remembering that nobody knows what will happen
Some think it will be the end of the world, others a golden opportunity – whatever happens, we can be sure that Brexit requires British marketers to be flexible. For example, budgets rose to their highest level for two years in the final quarter of 2016, according to the most recent Bellwether Report, as firms seek to find new opportunities – but this could all be reversed if the economic situation worsens. Much will depend on whether there is a so-called soft Brexit or a hard Brexit. Marketers should prepare for either eventuality.Back to all
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