Thinking of slashing the marketing budget? Think again…

By March 29, 2017 Stories

With the triggering of Article 50 and a world post-Brexit edging nearer, the daunting question business leaders are asking themselves is, ‘How will the EU referendum results affect my business?”

Whilst nobody seems to have a definitive answer to this question, what we do know is that businesses really must continue to position themselves above the competition in order to stay afloat in an uncertain marketplace.

Often viewed by some as an unnecessary expenditure or a ‘luxury’, marketing has long been subjected to unqualified criticism with many marketing professionals working tirelessly to persuade business owners to allocate ample budgets to their department.

Yet marketing has never been more vital. With the post-Brexit era looming, we are yet to feel the full effects of the referendum; all the more reason to put contingency plans in place to prepare for the unknown.

Through the strategic use of marketing, a business can build on brand awareness, grow their customer base and instil loyalty whilst reaping bottom-line benefits.

Slashing marketing budgets is certainly not the answer right now and if this is something you have considered, I would urge you to err on the side of caution and read on.

Have a think about something you want to buy. Why do you want to buy it and who do you want to buy it from? Dig a little deeper and ask yourself why you want to buy it from that particular business. Is it price, quality, or perhaps you’ve personally bought into the brand and its values? So much so that you wouldn’t even consider switching to an alternative brand, product or service.

Little did you know, your buyer behaviour is hugely influenced by an organisation’s dedicated marketing activity. A successful business will pro-actively market their offer and remind you of this through various touchpoints.

Whether in-house or outsourced, a dedicated marketing strategy will provide direction across all departments including branding, operations, advertising, customer service, sales, visual merchandising… the list goes on.

With a little investigation into your personal and professional buying habits, it’s clear that there’s no time like the present to shout louder than your competitors about the products and services you have to offer.

Getting creative with your marketing and finding better ways to reach your audience will deliver real ROI and maximise budgets, enabling your business to combat any EU referendum repercussions in the months and years ahead.

To discover how we can help your business, contact us today.

This article first appeared in Topic