“Uncertain” seems like an understatement when describing the economic and political turmoil of the last few months. Naturally, clients may be worried about what it means for them and their long-term plans, so how you communicate is more important than ever.
Since the start of 2022, the UK has had three prime ministers and four chancellors. The disastrous mini-Budget in September, delivered by former chancellor Kwasi Kwarteng, led to investment market volatility and uncertainty around changes that would affect personal finances, such as Income Tax allowances.
While new chancellor Jeremy Hunt reversed many of the announcements, it’s understandable that people are still concerned.
With Rishi Sunak now at the helm of the Conservative Party, uncertainty remains around potential policy changes and the effect they’ll have on the economy.
How you communicate with clients matters. It can ease their concerns and help ensure they make decisions that are right for them. Here are seven tips to keep in mind when you’re communicating with clients about political and economic updates.
1. Send timely information
Just as important as what you say in communications is when you say it.
If you don’t make sending out your message after an update a priority, your clients may have already read about the updates in the news, see numerous social media posts, and more. There’s no guarantee that the information they consume is accurate or that it makes sense to them.
Sending out your updates promptly can be beneficial to your clients and give them peace of mind. It can also establish you as someone clients can turn to for reliable, up-to-date information.
2. Make sure your updates are clear and concise
After an announcement, there’s often a lot of information that can be difficult to process. Focusing on the key points and making them simple to understand can help your clients tune out some of the noise. Cut out the jargon and focus on making your message as clear as possible.
Remember, your clients may not have your knowledge. Read Katie’s blog for tips on how to write content that your clients will understand and connect with.
3. Make your content easy to read
A block of text can be difficult to digest. Make your updates as easy to read as possible, even if clients skim-read.
Gareth has previously written about three simple ways you can break up your content – using subheadings, bullet points, and listicles. Keep this in mind when you consider how to set out your update and format it. Even small changes, like making key points bold, can help engage readers.
4. Focus on what the changes mean for your clients
Make it simple for your readers to understand what any changes mean for them.
A chancellor making changes to the pension Annual Allowance may talk about filling a black hole or supporting public spending. It can be difficult for clients to interpret what that means for their retirement. So, put them at the centre of all your communications and focus on the effect changes will have on their financial plan.
5. Remind clients of the importance of long-term planning
You might tell your clients all the time to tune out short-term market volatility and focus on their long-term goals. But that doesn’t mean you shouldn’t say it again.
While clients may know this, will they put it into practice? It’s at times of uncertainty that people are more likely to make snap decisions that aren’t right for them. A reminder not to act impulsively can be valuable, and provide the encouragement they need to stick to their plan.
6. Send regular updates
Recognise that during times of uncertainty, your clients may worry and need more reassurance than usual. Regular updates can help calm their fears and remind them that you are working on their behalf to help them reach their goals.
7. Let them know you’re there to help
Finally, make it clear to clients that you’re there to offer them support. Add your contact details to communications to reassure clients that if they have any questions or want to review their financial plan, you’re there for them.
It can help clients understand the value of your service and prevent them from making knee-jerk decisions without consulting you.
Do you want help communicating with your clients?
From sending out a one-off communication after a government announcement to regular newsletters, we can help keep your clients informed.
Get in touch with our talented team by emailing email@example.com or calling 0115 8965 300 to talk about your marketing needs.