The forward-looking bunch at Fundamentally Children have taken a pro-active approach to Brexit. They are expanding internationally (outside of Europe) to make the most of new opportunities and reduce their reliance on European and UK companies, whilst staying true to their roots and supporting their existing clients.
Dr Amanda Gummer, founder and CEO, explains their strategy:
The UK continues to make up the majority of our business, but we’ve noticed that the weaker pound, manufacturers are struggling and, unfortunately (and we’d argue misguidedly) R and D and marketing budgets are the first to go. We’re all for turning a challenge into an opportunity and, with the support of the DIT we’re focussing our growth strategy on markets such as the USA and MENA regions.
(The Team working together to build new strategies to help propel the business forward at a recent company event)
It works for the company on two levels, first with a weaker pound, our research and consultancy services are much more competitive so we’re able to attract new international, and often global clients. These tend to be clients who want to understand their global target audience better, and/or who want to break into the UK and European markets. We’ve productised our services to make it easier for international clients to see what they’re getting – with language and cultural barriers it’s really important that clients understand the deliverables and ROI – the Licensing Framework that we launched in Vegas is a good example of this.
The second level benefits our existing clients as we increase the exposure of the Good Toy Guide and Good App Guide internationally. Through initiative such as the Family Academy in the UAE, we are talking to parents and professionals about Good Toys and play, and are able to shout about the products in the Guides and add value to those companies with products that we’ve endorsed.
With discussions ongoing to license the Good Toy Guide in the USA and both the Good Toy and Good App Guides in the UAE, we are hoping to be able to weather any storms that Brexit might generate and continue to provide valuable exposure for UK and European clients.
We’re also keen to continue our involvement with policy on children’s issues and make sure that the government doesn’t neglect this generation of children whilst they are wrestling over Brexit – We’re supporting two All Party Parliamentary Groups on children’s issues and will continue to fight for children’s right to have a healthy, playful childhood.