At the time of writing, it looks as if the UK has been given another six months to find its way out of the Brexit conundrum that has been handed to our politicians. Let’s hope that an acceptable arrangement can be found in that time. Because even when a political exit strategy has been found, there’s still years of negotiation ahead to settle new trading terms with Europe and all of our other key trading partners.
And that means the uncertainty that businesses have been increasingly facing up to since 2016 is only going to continue. We’re not in anything near as bad as a recession situation as yet, but certainly there is a dip in business sentiment now and for a while yet that we’re going to have to contend with.
I think that calls for B2B marketers to go back to basics. We should be seeking insight from our customers at all times, but times of uncertainty are times to double down on that mandate. I’ve even been able to use the uncertainty to encourage businesses that have been traditionally reluctant to check in with their customers to do so to a greater extent. Every cloud has a silver lining! It’s essential that you find out how your customers are reacting to the uncertainty in the economy and look for ways of helping them to reduce their risks. Get a conversation started that can strengthen the customer relationships that you have.
Uncertain times are also times to check in on your marketing strategy and tactics. Are you capitalising on your most effective messages and pushing them through your most efficient channels? Can you focus your marketing in on the best routes to market for you? That means measure, measure, measure!
All things that B2B marketers should be doing all of the time. But uncertain economic times call for this behaviour on a far greater scale.
Dave is an experienced global B2B Chief Marketing Officer / Marketing Director with an established reputation for delivering commercial results in start-up, mid-tier, and blue-chip businesses across technology, and business services and professional services sectors.
Dave has worked for major brands such as Telefonica O2, EY, and Barclays and held posts from Chief Marketing Officer to Director of Online, has run his own business, and managed a P&L for a major corporate. He is chair and co-founder of the Business Marketing Club (www.businessmarketingclub.org.uk) - a network of B2B marketers. In 2019, he was named one of the top 100 B2B European marketing leaders (https://www.hottopics.ht/34199/top-100-b2b-european-marketing-leaders-2019/). He is a graduate of Cambridge University, a Chartered Institute of Marketing (CIM) Chartered Marketer and holds a MBA with Imperial College, London. Dave is a keen cyclist and adventure traveller, is married, and lives in Buckinghamshire. You can read his blogs at www.DaveStevensNow.com.