What would Brexit mean for tech startup and marketing sector?

A survey conducted by the email marketing firm Mailjet in March 2016 studied the opinions of 278 senior marketers across the UK. Interviews revealed that 41.7 % of the respondents found that the Brexit will not be good for their company, while 31.3% found it would benefit their business.

Another survey, conducted by Deloitte in early April has shown that Brexit tops risk list . Therefore just 18% of CFO’S intend to increase hiring within which is the lowest level since Q4 2012. Chief financial officers at FTSE 350 companies are supporting UK membership of the EU, confirming it helps UK exports, FDI and global influence.  

Martha Lane Fox, Richard Reed, Kelly Hoppen, Jacqueline Gold and over 200 startup entrepreneurs have signed open letter supporting the UK remaining in the European Union. Entrepreneurs believe Brexit would put the ability of businesses to grow at risk, damage the startup business and the UK will get less jobs, trade and opportunities.

Richard Reed, Vice Chair of Britain Stronger In Europe, Co-Founder of Innocent Drinks and Entrepreneurs for In, says: ”The most obvious and simple point that any marketer knows is that when given the choice of being able to sell to 60m people or 500m people you would choose 500m people every time and that is the difference of being in the EU and out of it.”

Another supporter of Britain Stronger In Europe campaign, an English self-made business magnate, investor and philanthropist, Richard Branson says Europe has done “great things for Britain… we’ve already got a very good deal in Europe.”

How Public Relations are adapting to the field of Digital Media

In the 21st century new media disrupted traditional communications. Computer Age have altered public relations and PR practitioners around the globe encountered multiple challenges in managing the evolving new media. According to the State of Profession 2015, a report by CIPR, only 12% of the PR executives with over 20 years of experience were confident in their social media and digital skills.As revealed by the State of Profession 2016 , more then 80% of the respondents focus on content creation rather then  building relations with the media.

New media  is defined as “content available on-demand through the Internet, accessible on any digital device, usually containing interactive user feedback”.

Lets look at the issues that evolved along with the rise of digital media and how the field of public relations is adapting to the digital media landscape.

First of all, the field of public relations is adapting to the digital media by shifting the focus from transmitting the message off company’s needs to the audience’s needs and reciprocal communications. This tendency was initiated by the emerged opportunity for public and stakeholders worldwide to engage in online real-time conversation, influence public opinion and decision making. Organised interest groups, social networks and  online public profiles created massive amounts of human generated content online. Some of the data is restricted by privacy terms and condition, but some is still available to for public search and research.

Platforms like Twitter, Facebook provide opportunity for the organisations to instantly engage with its audience. Naturally it has its good and bad sides. Digital media oblige organisations to be prepared, ready for the emergency cases and develop the crisis management strategies. The price of inappropriate response or miscommunication may be too high in reputational and consequently financial equivalent. For public traded companies it may result in fast and steep drop in share prices. Case studies like Amy’s Baking Company uncover what can raise the number of Facebook fans from 2k to 45k but for another reason.

Its no surprise that existence of a large amount of data online initiated services that provided tools to collect, structure and analyse it. As soon as the niche platforms emerged to serve the needs of different markets, the software tools to analyse the data produced by those platform has followed.

Online reputation management software available for different markets. Subscriptions vary  depending on the choice of the options available. For example, hotel reputation management tools such as Revinate  (Intercontinental,Starwood, Jumeirah, RoccoForte, Banyan Tree) and ReviewPRO (Kempinsky and Iberostar, Loews) are perhaps the oldest and the most widely known. The features of the software are presented as  graphs with key metrics that help to analyse performance in a given period of time. Selection of the options provided include sentiment analysis, monitoring of the online references and links to the organisation, possibility to compare the business towards a a set of competitors, measure and improve the guest satisfaction, receive regular reports.

Many communication agencies become early technology adopters. They closely follow the technology trends to stay update to the business innovations. In September 2015 Ogilvy&Mather, one of the largest communication agencies in the world, partnered with the Brandwatch Vizia  and National Gallery during the Social Media Week in London to organise The Content Atelier event. A real-time interactive multimedia studio was set up to engage with the event attendees and generate creative content online. More details about how the process was organised are in video presentation by Brandwatch.

Following the necessity to satisfy consumer needs, the newspapers that used to be printed, go online. For instance, by the end of 2013 in the UK the printed circulation of The Sun were just above  2.089k copies  and nearly 793k unique online daily visitors were reported by Audit Bureau of Circulations by The Sun in August 2015.

Despite the fact that Sun was struggling to attract the audience online, it was largest selling printed newspaper, selling almost 334k copies larger then Daily Mail.  The online leadership belonged to the Daily Mail that was reaching out to one third of the total UK population at least once a month. Online newspapers are turning into content aggregating platforms with their own contributing writers’ blogs and member access to articles provided by the premium subscription opportunities. The Guardian sales director Mark Finney revealed that his main business focus was on tapping global ad markets by means of building a global audience.

The tendencies for the digital media consumption globalisation, together with instant content translation opportunities provided by  Google Translate create a new type of media consumer and require a new corporate communications strategies and tactics.

Overall, I  welcome the disruption of media market and look forward to watch the field of Public Relations embracing new technologies.