You’ll know that we’ve previously said on this very blog that Brexit won’t dictate our thoughts – and that’s still very much the case.
But with 31st October looming and UK businesses attempting to prepare for all eventualities, we’re always looking into how we can alleviate any concerns for savvy marketers facing an unpredictable economic climate.
And, following such enormous political unrest, it’s no surprise that the pound has weakened as a result, so we want to make sure you’re getting the most value from the marketing services you’re paying for.
With that said, we’ve continued to have our fingers firmly on the pulse to prepare for the next wave of political uncertainty, and – despite the sterling now beginning to claw back some ground – we’ve discovered some fiscal findings that we wanted to share…
The great news is that as a nation, many marketers are still being provided with commercially savvy, high-quality martech during times of economic flux. However, some organisations using US-based marketing automation platforms are paying as much as 30% more than a UK equivalent!
We’ve found that a big reason behind this is because several large email service providers (ESPs) switched to an American-based model years ago. However, with the move they also carried the currency conversion – leading to marketers paying an unfixed rate even as the pound decreased in value against the dollar.
To put that into context, buying a martech product in 2014 for £62.50 ($100) would cost £81.96 in 2019 – a 30% increase! And that’s before any price hikes have been factored in!
As a result, with each year that has since passed, marketing budgets have been considerably damaged and are struggling to recover such extreme losses.
So, can UK marketing teams and their financial resources – many of which are already pushed to their limits – truly afford to keep being shackled by exchange rates beyond their control, especially if there’s a chance that the pound will become weakened further?
If you can’t, there is a solution – and it’s right on your doorstep.
As a proud UK built and managed platform, we have a significant advantage because our fixed price model – billed in £GBP – provides customers with peace of mind knowing they won’t be hit with a surprising invoice at the end of the month.
It’s that level of budget certainty – and having a package that meets your marketing needs during a time of flux – that can aid organisations’ resilience post-31st October.
If you’re looking at switching providers or have any additional support needs for marketing automation, email/SMS marketing or GDPR compliant data capture queries, we can go a long way towards easing your budget worries. Why not start by booking a free demo?