marketing communication strategies

Effective marketing communication strategies for firms in highly regulated industries

In the world of professional services—such as law, finance, and healthcare—clear and effective communication is key, and also highly regulated. Professionals in these fields operate within a complex regulatory landscape, and they must be vigilant about the communications they release publicly. Staying compliant while effectively marketing and communicating with clients and stakeholders is a significant challenge.

The following is a closer look at marketing communication strategies for professional services providers that are governed by rules and regulations unique to their professions. We’re taking a look at the roles of various marketing channels, as well as how to handle changing compliance requirements.

Understanding the regulatory landscape

Before diving into marketing communication strategies, it’s essential to understand the regulatory environment specific to your profession. Licensed professionals must learn to navigate various requirements, including professional conduct standards, data privacy laws, and industry-specific compliance requirements. Changes in legislation and ongoing legal challenges can impact the ways firms communicate both internally and externally.

We see businesses under significant regulation making three common mistakes in their marketing communication strategies:

  1. Choosing to communicate minimally, or not at all—essentially coasting on referrals and networking.
  2. Assigning content creation to experts within the field—a surefire way to burn out anyone who doesn’t like writing.
  3. Relying on a content farm that provides the same compliance-approved content to multiple firms—the fastest way to look like everybody else while killing your SEO.

In all cases, ineffective marketing communication will hamper business growth, and not only by restricting the flow of inbound leads. Existing clients who pay you for your expertise will be frustrated by the lack of communication, especially at high-need moments (such as sweeping legislative changes or new legal precedents).

While it can feel like regulatory bodies make it impossible for a professional services provider to communicate like other businesses, we’ve yet to find an industry where that’s truly the case. It’s a matter of understanding what’s allowed, what isn’t, and working with a marketing team that can work within the regulatory framework.

Keys to an effective marketing communication strategy

Effective communication is the backbone of any successful professional services firm, especially in regulated industries where clarity and compliance are paramount.

Navigating the landscape of regulations while ensuring that your message is clear and engaging can be challenging. The following strategies will help your firm communicate effectively with clients and stakeholders, build trust, and maintain a strong reputation in a competitive market.

Let’s explore these essential communication strategies in detail.

Develop a comprehensive content strategy

A well-defined content strategy ensures your firm’s messaging is consistent, compliant, and engaging. Content should address the unique needs of your target audience while adhering to regulatory requirements.

Types of content to include:

  • Educational content: Create blog posts, whitepapers, and webinars that address common client concerns, recent legal or financial changes, and industry best practices. For example, an accounting firm posts about the FTC’s ban on noncompetes on their blog. Later, due to a lawsuit, it’s unclear whether or not the ban will be upheld. Updating the blog to reflect the new development is equally important—the news will be all over the headlines, but there are critical details that most people will miss (in this case, the lawsuit’s temporary block of the ban only applied to the parties in the suit). Timely and accurate content builds trust and keeps clients informed via a reliable, non-sensationalized source.
  • Case studies and success stories: Showcase your expertise and successes without violating confidentiality agreements. Focus on the process and outcomes, and keep the sensitive client information out of the story. For instance, a law firm might share a case study on how they successfully navigated a complex compliance issue for a client, emphasizing their problem-solving skills and thorough understanding of regulatory requirements.
  • Regulatory updates: Regularly update your audience on relevant legislative changes and their implications. You can use blog posts, newsletters, social media posts, and/or a dedicated section on your website. For example, an HR consulting firm could write about updates in laws related to the classification of full-time, part-time, and contract workers, and how these changes could impact their clients’ outsourcing and hiring strategies.

Practical Tips:

  • Editorial calendar: Maintain an editorial calendar to plan and schedule your content, which will help ensure consistency and timely updates. That said, be flexible so you can accommodate relevant new developments as they break.
  • Collaborate with experts: Work with legal and financial experts within your firm to create in-depth, authoritative content. If they don’t like writing, pair them with a ghostwriter to make the task more doable within their workloads.
  • Client questions and feedback: Use clients’ queries to identify common questions and concerns that can be addressed through your content.

Utilize multiple marketing channels

Diversifying your marketing efforts across various channels helps ensure your message reaches a broad audience. Each channel has its strengths, and leveraging them effectively can enhance your firm’s visibility and credibility.

Key marketing channels:

  • Website: Your firm’s website should be a comprehensive resource hub. Include detailed service descriptions, informative blog posts, client resources, and contact information.
  • Email marketing: Use email newsletters to keep clients informed about industry news, regulatory updates, and firm announcements. Ensure compliance with email marketing regulations.
  • Social media: Platforms like LinkedIn and Facebook are valuable for sharing thought leadership content, industry news, and firm updates. Keep in mind that people want to interact with other people (as opposed to brands or company pages) on social media. Get your partners, leaders, and other key client-facing colleagues involved—it’s another way a good ghostwriter can support professionals who are less-than-enthusiastic about coming up with social media content.
  • Webinars and virtual events: Host webinars on relevant topics to educate clients and prospects. These events position your firm as a thought leader and provide opportunities for direct engagement.
  • Press releases: Use press releases to announce major firm milestones, new hires, or significant case victories. Ensure that all information shared is accurate and compliant with professional standards.

You may also be interested in: 30 days of LinkedIn content for service-based businesses

Handle changing legislation proactively

Keeping up with legislative changes is a continuous task for many types of professional services providers. Clients will get information from the mainstream media, and often it’s embellished or incomplete. Proactive communication about hot topics helps build trust and keeps your clients informed—and may even save you a lot of questioning phone calls.

How to implement:

  • Regular monitoring: Stay updated on legislative changes through reliable sources, such as industry journals, government websites, and professional associations.
  • Client alerts: Send timely alerts to clients about significant legislative changes that affect them.
  • In-depth analysis: Provide a detailed explanation, in laymen’s terms, of new laws and regulations through blog posts, whitepapers, or webinars. Explain how these changes impact clients and what steps they should take. Be careful to avoid industry jargon or unfamiliar language—your goal is to ensure your clients understand what’s going on.

Manage crisis communication

In regulated industries, lawsuits or regulatory actions can impact your firm’s reputation. Having a robust crisis communication plan is essential to manage these situations effectively.

How to implement:

  • Prepared statements: Develop templates for press releases and client communications that can be quickly adapted during a crisis.
  • Media training: Ensure that key spokespeople are trained to handle media inquiries and public statements professionally.
  • Transparent communication: Be honest and transparent with clients and stakeholders about the situation and your firm’s response. Timely and clear communication helps maintain trust.

Leverage thought leadership

Positioning your firm as a thought leader in the industry can enhance your reputation and attract new clients and staff. Thought leadership involves sharing your expertise and insights on relevant topics.

How to implement:

  • Guest articles and columns: Write articles for industry publications and websites. Share your knowledge on emerging trends, regulatory changes, and best practices.
  • Speaking engagements: Participate in industry conferences, webinars, and podcasts. Each of these types of engagements enhance your visibility and credibility. They also provide additional content that can be repurposed into blogs or social media posts.
  • Collaborations: Partner with other industry experts for joint content, such as co-authored articles, podcasts, or webinars. Collaborations can expand your reach and help build a valuable referral network.

Outsource content production

Finding the time to produce high-quality content can be challenging at best—and impossible during busy seasons. Hiring a marketing firm to help with content creation or ghostwriting can ensure that your communication remains consistent, professional, and compliant.

How to implement:

  • Select the right firm: Choose a marketing firm with experience in regulated industries. Look for firms that understand your field and can produce content that meets regulatory standards.
  • Collaborate on strategy: Work closely with the marketing firm to develop a content strategy that aligns with your business goals and compliance requirements.
  • Maintain oversight: While the marketing firm handles content production, ensure you review and approve all content to maintain accuracy and compliance.

Examples:

  • Ghostwriting: An attorney might use a marketing firm to ghostwrite articles on recent changes in employment law, ensuring the content is both informative and adheres to professional standards.
  • Content production: An accounting firm might collaborate with a marketing agency to produce a series of educational videos on tax planning strategies, leveraging the agency’s expertise in video production and content marketing.
  • Social media management: A healthcare practice could hire a marketing firm to manage their social media presence, ensuring that their posts are consistent, engaging, and compliant with advertising regulations.

If you’re ready to take your marketing communication strategies to the next level, but aren’t sure you have the time or resources available, we can help. Our professional ghostwriting services allow you to focus on what you do best while we elevate your business, brand, and message. Our team of skilled writers specialize in crafting high-quality content that resonates with your audience and keeps you in compliance with all applicable regulations. Schedule a free consultation to learn more.

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