What does Brexit mean for marketing budgets?

There is still much uncertainty about what Britain’s vote to leave the European Union will mean in the long term but here marketers from Microsoft, Eat and Taylors of Harrogate predict how it might impact their business.

It’s less than a month since Britain’s decision to leave the EU was revealed. Here three of this year’s Vision 100 inductees share their first thoughts on what it might mean for marketers.

Microsoft’s UK CMO Paul Davies thinks it will make marketers more risk averse in the short to medium term, but warns against this and instead urges marketers to “be more adventurous”.

As it will be difficult to get budget increases signed off, Kevin Sinfield, head of brand marketing at Taylors of Harrogate, believes marketers will need to pay even closer to changing consumer trends.

Eat’s brand director Sarah Doyle is more positive, however, as she says it’s “impossible to know what impact the Brexit vote will have” at this stage so she is optimistic it won’t be as bad as some people think it might be.

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Though there is still much uncertainty around what the ‘Leave vote in the EU referendum will actually mean for business and the economy, there are indicators that brands in sectors such as luxury, discounting and alcohol could see benefits from Brexit.

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