All Greek to You?
There are almost 1,500 miles between London and Athens and it’s easy to believe that such a significant distance puts the two cities worlds apart. But anyone who tries to fool themselves that the huge chunk of Europe and the difference in currency that stands between the two cities will protect the UK from the turmoil in Greece is sadly mistaken. Greece is teetering on the edge of an economic precipice and we are merely a few steps from the edge. Why? Because, while we might still have our own currency, we rely on products, services and customers from within the Eurozone so, if it’s raining over there we will almost certainly catch a cold over here.
We’ve already seen the way the markets react to news of renewed financial crisis in the Eurozone….with sheer panic. For UK businesses who deal with Europe as part a supply chain, like several of CME’s clients, these are testing times and the challenge is to avoid panic and respond with a strategic approach which is considered enough to be effective ….yet flexible enough to adapt to fluctuations in European policy and fortunes.
It’s a tricky business. Currency fluctuations mean that those selling in Europe may need to revise their pricing on a real time basis, or risk pricing themselves out of the market by setting their list in sterling. Those buying in Europe face a similar price uncertainty and in both camps there is the added danger that customers or suppliers may simply go out of business without warning.
At times like this, customer retention is critical. As are spreading the risk by diversifying into new markets and building on your existing customer base. And to achieve any of that your company not only needs to be good at what it does and have excellent leadership, it also needs to make sure that customers and potential customers understand why you are different……better……..right for them.
In short, now is the time to make any investment in marketing count. Make it tailored, targeted, creative and effective. Make it strategic and sustained. And, above all, make it happen before it’s too late.
Throughout May CME Ltd are offering reduced rates on strategic marketing services. Contact Sarah Reay for more details on 0151 343 4820 or email firstname.lastname@example.org.