Brexit Business Strategy
Nobody really knows what is going to happen on the 29th March 2019. The mainstream media are covering the doom and gloom angle. There is chance that without an agreement imports and exports may be delayed at the boarder. The pound may drop and inflation may rise. Now is the time to develop your Brexit business strategy.
On the other side very little may change. Maybe imports and experts will remain unaffected. Maybe the pound will not drop and maybe everything will be ok?
Your organisation requires reassurance, as do your customers. Now it the time to plan your marketing and prepare for any eventuality. Planning your marketing will give you some reassurance and will hugely benefit your customers.
Know your position
Take your marketing back to basics and apply the good old SWOT analysis to this situation. Just incase you are not sure what a SWOT analysis entails we have summarised the process in a past blog on the same subject. Click the following link to see an example SWOT analysis.
Marketing post Brexit – published in 2016
A SWOT analysis is a great way to explore the main eventualities. How can you adapt your marketing to make sure a strong and stable message is being communicated.
We love the term “Plan for the worst, hope for the best.” Do this and you will weather even the worst scenario. If this “worst case” eventuality does not happen, then you have not lost anything. Think of it as insurance.
Reassure Customers
Your business, customers and suppliers are in the same boat. They may also feel anxiety about what may or may not happen. Once you have completed the SWOT analysis and your plan is developed, let them know.
By showing you have planned for Brexit you signal your preparation, understanding and the fact that you care about their custom. It could be a quick email, social media campaign, a sign or even a letter. Communicating the message of reassurance and keeping everyone updated makes for good marketing.
Planning for the worst
Lets say all the doom and gloom is correct. How badly could it affect your business? What marketing would you need in place to weather such a storm. Putting that in place now will save significant time and huge costs.
Don’t forget, if the worst does happen and many businesses struggle to survive there may be huge demand on the marketing services you need. Put them in place now for your worst case scenario or a least identify what it may look like.
See the potential – Brexit business strategy
There is a flip side to this whole situation. You could capitalise from the chaos to manoeuvre your business or services into new markets or positions.
First look at your competitors and analyse how Brexit may affect them. Do they suffer from any glaring weakness? Are they too busy preparing for scenarios that are likely to never happen? If so they may be tying up their resources in the wrong pursuit.
With change and development there is always opportunity. You just need the ability to move fast and the confidence to pursuit it.
Conclusion
Nobody knows what is going to happen. It may be good or bad in the longterm. In that respect, this whole situation is no different to a regular business day. The main factors that will lead to success or failure will be how you and your business anticipate and respond to the developing situation.
Put plans in place and map out scenarios. Many businesses are talking about Brexit but many will neglect to plan for its outcomes. Just by being one of the few to plan you will have a huge advantage.
