Brexit has become this summer’s trending topic. Move aside, Euro 2016 and Rio Olympics, Brexit has managed to send the whole of Europe into turmoil in a way that few predicted. You might be wondering what’s up next and what Brexit really means to your business. We are too. Read on and learn what we know about it so far.
Two weeks ago, the UK voted in favour of Brexit and to leave the European Union (EU). At the time of writing this post, we are in a period of uncertainty. We don’t really know what Brexit will mean for the UK, or its businesses and their marketing teams. We don’t even know who are next Prime Minister will be.
Earlier this year we conducted a piece of research, to better understand UK marketers views on the possibility of a Brexit. 31.3% thought it would have a positive impact on their business. So, there is a sizeable proportion of UK marketers that are excited by the possibilities to come.
What do we know about Brexit so far?
Once the British Government triggers Article 50, there will be a 2 year period for the UK to negotiate its leaving terms with the EU. Ensuring that the UK becomes a leader in the digital economy, without the Digital Single Market (DSM), needs to be at the forefront of those negotiations. Individual trade agreements will need to be made with the all the countries within Europe and the rest of the World.
GDPR (the General Data Protection Regulation) will come into place in 2018, while the UK is still a member state of the EU. UK marketers will need to continue to prepare for Privacy Shield, as it is likely our data protection legislation will be in a similar vein when we become an independent state. At the moment we are unsure if the UK will continue to comply with GDPR after Brexit, complying with the regulation will give UK businesses an edge on their US competition.
The opportunity for marketers
Consumers’ confidence and disposable income levels are expected to fall in this period of uncertainty. Now is the perfect time to engage with your customers at key moments, earn their trust by rewarding their actions and make them loyal to your brand. Consumers will be pickier with the brands they spend their hard earned incomes with, so give them a reason to stay with you and not jump on to one of your competitor’s ships.
Simple principles could make all the difference to your bottom line: sending your customers a welcome email, wishing them a happy birthday, rewarding them for being a repeat customer, persuading them to come back to your brand when they’ve been absent for a while… Adopting email marketing automation now can help you reach the right customers, at the right time, with a message that’s relevant to them. If you’re not sure what the right scenario or the right message is, test it!
Whatever happens in the next few weeks, months and years, it is important not to panic and rush into bad marketing decisions. Stick to your current marketing strategy, and make sure you are getting the basics right. Be consistent with your marketing message across your online and offline experiences. And most importantly, be relevant.
We’re eager to know what the future holds. If you are too, subscribe to the Mailjet blog. We’ll be your eyes and ears – giving you relevant digital marketing updates, helpful advice and handy tips to keep your customers coming back for more.
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