Brexit: The Challenges & Opportunities on Your Digital Activity

While Downing Street and the city struggle with the massive implications of Brexit, every industry wonders “What does this mean for us?” – and the stark reality is nobody fully knows.

The digital marketing industry is no different. So, what does it mean to us? Well, frankly not as much as it means to our clients and that’s where we should be focusing.

The International Opportunity – Expanding Reach

However brief or long-term the weakness of the pound might be, this represents an opportunity to increase sales in international markets for many retailers.

For retailers that already have an international presence, this is just a case of increasing campaign budgets and making sure that your now more competitive price-points are a major feature in your ads targeting markets that benefit from a weak pound.

But for retailers who have no or limited international presence then the opportunity is even bigger, providing the exchange rate hasn’t completely sapped their profits. It doesn’t have to be too difficult or too expensive: just duplicate your current English language campaigns and target English-language users in markets you have the ability to ship your products to.

With that simple step you’ve vastly expanded your potential customer-base without the expense of having to translate your website. Whilst this is likely to have the biggest impact on English speaking countries, there are people around the world searching in English and looking for English products. With the exchange rate now in their favour, there is a higher likelihood that they will purchase.

The Internal Opportunity – Focusing on the Positives

As importing from abroad becomes less desirable, UK-based retailers may be able to capture market share that was once held by foreign imports.

Consumers will quickly become savvy to the extra cost of ordering products abroad, so include keyword modifiers such as “made in England” that will help attract them. Also, consider highlighting these relevant aspects in any of your other ad formats including, display banners or social advertising.

Value-based searches will also likely increase such as “cheap tan walking boots.” Brands who do not wish to be associated with the term “cheap” could still benefit from appearing against these searches in instances where there products are now comparably cheaper to international products. And of course, competitive price points should always be highlighted in any ad format.

The Big-Ticket Delay – The Importance of Data

While there is doubt about the future of the economy, many customers will hold off on buying big-ticket items. But they will still be browsing. So collecting audience data on your websites is more crucial than ever.

Make sure that you are capturing info via retargeting pixels, and be smart with how you categorise these audiences in terms of pages viewed, items added to baskets etc.

Also, while the uncertainty lasts, consider extending the duration of your audiences. What might have worked previously on a 30-day audience might now be applicable to a 45 or even 60-day audience as the research phase lengthens due to a reduction in consumer confidence.

The Housing Market – Make Do and Mend

If, as expected, the housing market weakens, then existing home-owners will be less likely to sell or move.

This in itself represents an opportunity for all brands concerned with home-improvement – from bathrooms and double-glazing to home accessories and white goods. But the considerations about big-ticket items and exchange rates still apply.

The Basics – CPC Efficiency

If consumer-confidence is dented then we will likely be forced to push for efficiency across the board. Therefore it will become more important than ever to make sure that CPCs are kept as minimal as possible. The cumulative effect of competing brands all seeking to lower CPCs may result in overall CPC deflation.

If this can be maintained once the economy stabilizes this may lead to more long-term CPC efficiency.

What the Future Holds?

Ultimately, we won’t know a lot about what the future holds for a post-Brexit Britain until it’s upon us. But if the digital marketing industry holds true to its core concepts of flexibility, efficiency and transparency then we can ride out any storm and continue to drive success.

Want to know more about 2016’s trends? Download our mid-year review

NMPi Recognised in Econsultancy’s Top 100 Digital Agencies 2016 List

Econsultancy has released its annual Top 100 Digital Agencies List. The report focuses on the current state of digital and provides useful information for brands who are looking for the right agency to help them achieve their goals.

NMPi is honoured to have been recognised in the top media agencies, holding the number seven spot, our highest ranking ever. With over twelve years of experience in digital advertising, we look forward to bringing our current and prospective clients our exceptional levels of customer service, technical support and intelligent advertising insights.

The digital landscape has changed. Massive strides have been made in the past year across digital, from the ‘Internet of Things’, to wearables, video, virtual reality and advances in AI. It’s more important than ever for agencies to hone their skills, and move forward with these changes.

The Impact of GTINs on Google Shopping

In February, Google announced its latest PLA requirement would become mandatory on Google Shopping: the implementation of GTINs across products sold by multiple sellers. As of May 16, they formally enforced the rule across the board. Google first broke the news last August when it initially issued the requirement to only fifty brands. Now Google is expanding this to include all brand name products or services.

What are GTINs?
GTINs are the barcode of google shopping. Every product has one, but not every customer looks at them. However, they are a unique code that identifies and provides important details about every product in the Google Shopping catalogue; and now they play a vital role in Google Shopping.

Why Implement GTINs?
Google implemented this regulation to keep tabs on what retailers and service providers are selling on its platform, saying that by knowing what’s being sold, they can help merchants boost their ad performance. The addition of the GTIN has allowed Google Shopping merchants to serve their ads in more places, and with Google’s partners, thereby bringing conversation rates up by 20%. A successful test conducted in September 2015 determined that GTINs improved CTR by up to 40%. As a result, Google has required all brand name products within Google Shopping feeds to have a GTIN.

Who is Affected?
Merchants targeting Australia, Brazil, the Czech Republic, France, Germany, Italy, Japan, the Netherlands, Spain, Switzerland, the UK or the US, must affix a corresponding GTIN on all new, in-stock, and branded products in order to comply with Google’s requirement for Google Shopping. Merchants advertising pre-order, used, handmade, custom made, or vintage items will not be impacted because these products are unique, and only being sold in one place.

What has been the impact?
This has been time consuming for advertisers who don’t already have this data within their feed. It required sourcing potentially 100s of GTINs. Regarding overall performance, GTINs have only been a requirement from May so there hasn’t been enough time to see any significant change.

Want to know more about 2016’s trends? Download our mid-year review

NMPi Nominated for Best Programmatic Campaign at First European Performance Marketing Awards

In just under two weeks, NMPi will be attending PerformanceIn’s first annual European Performance Marketing Awards, and we are excited to announce that we have been nominated for two awards: Best Publisher, and Best Programmatic Campaign for our success on the 2015 Black Friday campaign with renowned outdoor retail company, Cotswold Outdoor.

NMPi was asked to maximise sales and ROI for Cotswold Outdoor through programmatic display. The NMPi Black Friday display campaign set out to combat high eCPM banner rates that are typical for campaigns run during this period and deliver cost efficient, yet lucrative results for Cotswold Outdoor.

UK Performance marketing Awards 2016 1

The Best Publisher prize is given to publishers who exemplify the best-in-class performance campaigns. The winner must demonstrate integrity, excellence and innovation, and be an organization advertisers are excited to work with across their campaigns. The Best Programmatic Campaign is awarded to organizations who demonstrate the best use of Programmatic buy, across any channel, with efficient ad spend, innovative technology, and intelligent ad placement.

The Performance Marketing Awards (PMAs) were launched in 2007 to recognize marketing excellence across the UK. The PMAs branched out to the continent for the first time after noticing the excellent work being done on an international level.

They wanted to acknowledge the perseverance, and inroads brands have been making over the past ten years not just in the UK, but globally. This year marks the tenth annual Performance marketing Awards and the first ever European Marketing Perforce Awards.

It has been an exciting year for with seven nominations including, The Drum Marketing Awards for best use of technology, European Search Awards for best young search professional, and The Drum Digital Trading Awards for best use of performance. NMPi is honoured to have been nominated for this award and would like to extend congratulations to everyone who has been nominated for their hard work, and marketing efforts over the past year.