Marketing is critical for your business to succeed in meeting growth targets in a post-Brexit world. In looking to cut rising costs from Brexit, it may be tempting to cut back on investment in this area. However, in an increasingly competitive environment, a strong brand and marketing strategy will be essential to stand out and generate new business.
Understanding your market and customers will be key for businesses, requiring them to focus more on market research to identify new markets and market segment opportunities. Build your strategy around strong market intelligence and customer data. Expanding into new markets will spread your risk by reducing overall dependency on the EU or a single market segment.
During the period of uncertainty whilst the Brexit terms are finalised, it will be more important than ever to increase the trust and confidence of your customers, suppliers and distributors to sustain growth, as well as winning repeat business and gaining referrals for new sales.
Possible Opportunities and Challenges
Sales and Marketing Plan
From a sales and marketing perspective, an important potential impact of Brexit is how it will impact on your customers. Buying decisions are complex and often based on reasons that companies do not realise. Brexit may result in a fall in sales for your company because of the challenges you face, but equally, it could result in increased revenues as you embrace new opportunities. Relationships are key for your sales. Take time to invest and strengthen these now during this interim period, meeting your clients regularly to also gather intelligence. Simultaneously, deepen your understanding of market segments and geographical markets to mitigate any potential changes in your customers position and to identify new customers.
Brexit could bring increased and new competition from international markets and much larger players with greater resources. To compete and grow, companies will need to examine their product or service portfolio and determine what their unique selling points are in all of their target markets. Review the necessary sales and marketing skills required to exploit new markets and generate new sales to assess gaps and create a plan to mitigate these. For example, it may be that new language skills become a priority after Brexit.
Regulations and standards after Brexit
When the UK leaves the EU there may be changes to the requirements for placing certain products on both the UK and EU markets. Businesses should prepare for potential changes that may affect their area of work by considering guidance documents and technical notices that UK Government has produced relating to changes to regulations and standards when the UK leaves the EU. These can be viewed here.
Sector-specific and country specific information across the different areas of goods regulation have been created to help businesses to understand the impacts of Brexit for their products and supply chains. Please note that these guidance documents do not cover customs requirements and there may be changes at UK borders that affect your business’ ability to place certain products on both the UK and the EU markets.
A brand that works in the UK and Europe may not necessarily be effective or appropriate in other, new markets. Businesses may need to rethink their branding to be ready for new international or emerging markets through investing in a carefully researched re-branding strategy. Consider local customs, cultural sensitivities and language differences, along with location logistics and appropriate marketing channels to develop an enhanced brand, and investigate appropriate local Trade Mark protection.
UK Government have released a series of technical notices which are available on the GOV.UK website including:
- Accessing public sector contracts if there’s no Brexit deal
- Appointing nominated persons to your business if there’s no Brexit deal
- Bringing merchandise from or to the UK in baggage if the UK leaves the EU without a deal
- Changes to design and trade mark law if the UK leaves the EU without a deal
- Changes to trade mark law if the UK leaves the EU without a deal
- Classifying your goods in the UK Trade Tariff if there’s no Brexit deal
- Consumer rights if there's no Brexit deal
- Data protection if there’s no Brexit deal
- Driving in the EU if there's no Brexit deal
- eCommerce EU Exit Guidance
- Guidance on .eu top level domain name registrations in the event of a ‘no deal’ EU exit
- Guidance on new provisions for traditional herbal medicinal products and homoeopathic medicinal products in a no deal scenario
- Health and Safety Executive information if the UK leaves the EU without a deal
- How renewals of Marketing Authorisations will be handled in a no deal scenario
- Implications for business and trade of a no deal exit on 29 March 2019
- Manufactured goods: regulatory requirements if the UK leaves the EU without a deal
- Regulations and standards after Brexit
- Promoting competition and ensuring markets work well after Brexit
- Placing manufactured goods on the EU internal market if there's no deal
- Placing manufactured goods on the UK market if there’s no Brexit deal
- Status of conformity assessment bodies after Brexit
- Statutory Instruments relating to EU Exit
- Trading goods regulated under the ‘New Approach’ if there’s no Brexit deal
- Trading under the mutual recognition principle if there’s no Brexit deal
Sales and Marketing Events
See all events