If you’re one of the many in the financial services industry who will be working through the night following federal budget, this one’s for you. Simplifying the entire budget into one engaging, customer-facing communication – is it even possible? We certainly believe so. Here are our top tips to keep you sane – and your customers interested – when it comes to Federal Budget.
1. Get in early
Every morning show, newspaper and social media feed is going to be full of the Federal Budget for days, and by mid-morning on Wednesday, everyone will be completely tuning out. To make sure your message doesn’t get lost in the onslaught, it’s best to get in early – but not too early! Our recommendation? Get an eDM to your customer’s inbox just before they’re likely to wake up (or, if your audience is more likely to have supplied a work email address, just before they’re likely to get to work). It means a late night for you, but it’s certainly true that top of inbox = top of mind.
2. Get to the point
There’s going to be a lot of announcements in the Federal Budget, but the only question that matters to your audience is – what does this actually mean for me? Bombard them with too much information, and they’ll find another source. Don’t bother going into detail in the initial communication. Give your audience relevant headlines with just the essential information, and let them click through for more detail on what interests them. Then, you can track interaction to see what people were interested in and execute a targeted follow up strategy.
3. Segment, segment, segment
With such tight timelines, it’s tempting to just send a mass, one-size-fits-all communication about the Federal Budget. But if you’re not adding value for your customers, and showing them that you know them, will it really be worth doing the communication at all? With a bit of planning, you can anticipate the types of segments that you’ll want to break the messages into even before the specific policy changes are announced. It’s a bit more work, but trust us – it’s worth it.
You know the drill by now. Your twenty-something members aren’t going to care much about changes to the Age Pension; save updates on corporate tax for your B2B audience; and people with low super balances aren’t going to embrace your detailed analysis on SMSF changes.
4. Bring your unique point of view
We’ve already established that the Federal Budget will be widely broadcasted. So to cut through the noise, and establish (or reinforce) your status as a trusted source of valuable information, make sure you’re doing more than parroting back the same information that could be found anywhere. It may be an opinion piece, or an original insight that you are in a unique position to make (much like this article on Simplifying Federal Budget comms!).
Whatever you do, make sure you have a strong, relevant call to action to link your communication back to your business. It could be about a particular product or service, or simple as an invitation to follow you on social media. Federal Budget is a great opportunity to communicate with the people who it will impact, so make the most of it by making the next steps crystal clear.