In this interview, we chat to Patricia Killoran, managing director at The Mission Control Communications about the impact of Brexit on an agency that is best known for its work overseas.
“I don’t think anyone really expected the outcome of the referendum to be what it was, not even those leading it. In an interview with the Sunday Telegraph, Sir Martin Sorrell summed it up: ‘the fact that the Brexiteers, having not expected to win, don’t even have a Plan A, let alone Plan B, hardly helps to boost market confidence.’
However – with the majority of our work originating from brands in the United States, the collapse in the value of the pound against the US dollar post Brexit has proved to be a blessing in disguise. The drop in the value of sterling means US companies are now saving as much as 20cents on the pound. In layman terms – a US company can now save up to $2,000 against every £10,000 billed.
This sudden and unexpected windfall means that US brands are finding their marketing dollar buys them a lot more than it did a few short weeks ago in the UK. Likewise, we’re seeing a similar trend in work coming from South Korea and Japan where the value of a weak pound is also being felt.
Whist the real impact of Brexit is yet to be felt on the ground, this initial short-term benefit is helping to lift my post-referendum depression and putting a smile on the faces of US clients.”