Preparing Financial Firms for Election Uncertainty
It’s Election Day here in the US and voters are hitting the polls across the country. It’s been a close, often contentious race, and it may be a few weeks before we know the final outcome. Both candidates offer different paths forward for the country, with polls showing them in dead heat.
The role of marketing and communications leaders is to provide clear, consistent, and strategic messaging on behalf of your organization, especially during times of uncertainty. Since we can’t predict what will happen this evening or over the course of the next few days and weeks, it’s imperative that marcomms teams across the finance space (and beyond) are prepared to communicate effectively internally and externally no matter what happens.
1. Internal Communication: Preparing Your Team
Align on Key Messages: Before any external communication, ensure that all internal stakeholders are aligned on key messages. Everyone in the firm should understand the potential impacts of the election results, the company’s stance, and the strategy for communicating with clients.
Clear Guidelines for Client Conversations: Provide your teams with talking points and scenario-based responses to ensure that they’re prepared for client inquiries. This is especially important for relationship managers, who will be on the front lines, discussing sensitive issues like market volatility, regulatory changes, or tax policy adjustments.
Crisis Communication Plan: Given that the election could lead to a period of heightened uncertainty or even crisis, ensure that your firm has a crisis communications plan in place. This should include an escalation process, pre-approved messaging, and a clear protocol for addressing any issues that arise from election outcomes (think sudden market downturns, regulatory changes).
Internal Updates: Keep your team informed in real-time with regular internal updates to ensure everyone is not only safe, but on the same page and able to speak with confidence and authority.
2. External Communication: Client Messaging
Proactive Communication with Clients: The key to client confidence post-election is proactivity. Maybe you send out an initial communication (social media post, newsletter) that addresses the election results and reassures clients that the firm is prepared to navigate potential challenges.
Offer Clear, Actionable Advice: After the election, clients may feel anxious or unsure about the impact on their finances. Use your communications to offer clarity and actionable next steps. This could include updating investment strategies, revising financial goals, or reviewing tax strategies.
3. Content Strategy: Navigating Election Outcomes
Be Thoughtful and Transparent: Financial firms need to balance professionalism and transparency when communicating on social media after an election. Keep your messaging neutral, avoid partisanship, and focus on helping clients navigate any potential impacts of the election.
Share Relevant Content & Demonstrate Thought Leadership: Post content that helps clients understand the implications of the election on financial markets. This could include articles, blog posts, infographics, or videos that explain how election results might impact specific sectors, taxes, or investment strategies. Share expert commentary from your firm’s leadership, investment strategists, or economists.
Engage in Real-Time: Social media is a fast-moving space, so engaging with your audience in real-time during the election aftermath is critical. Monitor discussions around the election’s impact on financial markets and be ready to provide informed insights or updates.
Client-Centric Posts: Share posts that show how your firm is prepared to help clients through market uncertainty. Highlight your firm’s expertise and commitment to sound financial advice.
While the aftermath of this election may create uncertainty, it’s also an opportunity for financial firms to demonstrate their expertise, build trust and reassure clients through thoughtful communication. Maintaining transparency, providing clarity and showing that your firm is ready to navigate the potential challenges will help your internal team and clients feel confident moving forward. If you need additional support or would like to work through a crisis communications plan, don’t hesitate to reach out to the Vested team.
