The uncertainty of Brexit
Andrew Scott, CEO of Purplex, discusses why it’s essential to invest in your business’s long-term marketing strategy despite the uncertainty caused by Brexit.
It’s been an uncertain time for many businesses in our sector with Brexit affecting the confidence of some companies to invest for the long-term.
As I write this, the prime minister has headed off a no confidence vote in her leadership.
The Bank of England warned that the UK would be economically poorer under any form of Brexit, compared with staying in the EU. But Mark Carney’s doom-laden forecast is only one scenario; Jacob Rees-Mogg, quoting the pro-Brexit group Economists for Free Trade, says the UK economy could enjoy some £1.1 trillion from a WTO option Brexit (the so-called no-deal scenario).
Whether Britain leaves the EU with or without a deal, those businesses that invest in their marketing for the long-term will be better placed to cope with any uncertainty that Brexit creates.
Some business plans focus on immediate gain but without a longer-term plan, which is a risky approach; we’ve all seen companies enjoy spectacular growth and then disastrously go out of business. But on the other hand, there is no point developing a ‘big picture’ strategic plan that focuses on the long-term, while cashflow dries up from a lack of short-term sales.
Developing a growth plan needs to incorporate both longer-term strategy planning (“Where do we want to be in three or five years?”) with tactical, short-term activity. The two need to operate in tandem.
Working with a marketing agency that understands your business goals and has the industry knowledge and experience, makes all the difference. Purplex sees the bigger picture; it was established in 2004 to provide the window, conservatory and glass industry with a credible solution to business growth.
If your aim is to build a sustainable, profitable business, having a marketing machine that continuously generates sales leads is vital, whether business is quiet or busy. Driving leads to your door can be done in many ways:
online through search engine optimisation (SEO), conversion rate optimisation (CRO), and pay per click (PPC)
direct mail and email marketing – a cost-effective way to target a large audience and generate instant responses (there is a real science to email marketing, so you need to ensure that your hard work doesn’t end up in the spam or junk folders)
social media – with 2.2 billion Facebook users worldwide, 336 million users of Twitter and 457 million users of LinkedIn, social media platforms are now a vital lead source
By driving relevant traffic to your website, we can then create content that helps to convert a lead into a customer.
Purplex has grown by 34% every year since it was founded. Today we employ almost 70 marketing professionals, and our clients range from international conglomerates to small, local installers.
Purplex was founded in 2004 from my kitchen table and just four years later we experienced the 2008 financial crash. I saw many businesses make the mistake of cutting their marketing budgets and sales suffered as a result and it was difficult for them to gain traction afterwards.
It’s important during this period of uncertainty not to put the brakes on investment, and be brave and determined to continue to grow your business.
Even if the worst-case scenario predictions are true, the window and door industry is still a £multi-billion industry and customers will still need to place orders, and those businesses that are brave and invest in the long-term will be more able to weather an economic down-turn.