by Greentarget
Contemporary political rhetoric is rife with false binaries that make it difficult for executive leaders to know when to speak out and what to say. And in 2024, as most of the world’s population participates in elections, this challenge will only continue to grow.
According to the Financial Times, the outcomes of more than 70 global elections, including those in eight of the top 10 most populous countries and many of the world’s oldest democracies, will play a pivotal role in framing the future of democracy as we know it. The U.S. election is particularly critical due to the position we hold in the world. Given the nature of politics in America — and the heightened tension that accompanies our collective fear around democracy’s decline — we all know just how divisive the coming months are likely to become.
The inflated rhetoric of the U.S. election will surely create moments when leaders are called upon to affirm or reject controversial positions. We know these are difficult situations, as we’ve all seen leaders caught off guard in the recent past. With the repeal of Roe v. Wade and the start of the war in Gaza, many leaders discovered that they risked alienating some segment of their core audience regardless of what they said — or whether they said anything at all.
Mindful of these recent experiences, there is no excuse for being caught off guard again. Stakeholders will demand a clear response and point-of-view from your organization. The time to decide how you will respond to the next social or political controversy is not when it lands on your doorstep. We know that it is coming, whether it’s tomorrow or in six months. The time to prepare is now.
Why Do You Need to Think About the Election Now?
We’ve all seen unprepared leaders lose control of difficult conversations. But if you can’t skillfully and adeptly navigate these pivotal moments as a leader, you risk undermining your own authority and harming your organization’s reputation. To participate skillfully in the conversations that matter most, you can’t afford to be reactive. Foresight, forethought, and careful preparation are key.
Think back to the summer of 2022 and the conversation around Dobbs vs. Jackson Women’s Health. Despite knowing a landmark decision was coming for over six weeks, many leaders scrambled to figure out how to respond once the news broke.
One notable exception was Ropes & Gray Chairwoman Julie Jones, who released a powerful, heartfelt and thoughtful statement just moments after the Supreme Court announced its decision. Her readiness to communicate her position set her apart.
Immigration, reproductive rights and the growing conflict in the Mideast are just a few of the issues that will take center stage in 2024. These topics are far too important to ignore — and their complexity deserves your advance consideration.
Three Steps to Establish Your Firm’s Communication Platform
Navigating difficult communication challenges is not for the faint of heart — and you shouldn’t go it alone. Engaging PR counsel to develop authoritative points of view before it’s time to release a statement is wise and prudent. When you get ahead of the news cycle, you’ll be able to communicate with confidence, knowing your messaging lines up with your firm’s priorities and reinforces your position as an authority worth heeding.
A good PR partner will know how to guide you in positioning your firm for the executive communications challenges that lie ahead. At a minimum, the positioning process should involve these three steps.
1. Assemble a Representative Selection of Stakeholders
You need a representative cross-section of stakeholders at the table to ensure your decisions reflect the values and spectrum of diversity of your firm.
The process you follow to frame a response to controversy is just as important as the response itself. After all, it will be impossible for you to please your entire audience no matter what you say. But by demonstrating that you followed a reasoned, logical process — and by communicating about it openly and transparently — you can minimize blowback and prevent the informational leaks that cause reputational harm.
The Kalven Committee at the University of Chicago
The University of Chicago provides an instructive example of what a collaborative decision-making process can look like — and shines light on the value of thoughtful, open communication.
In 1967, then-University president George W. Beadle convened a multidisciplinary faculty committee to examine the role the University should play in social and political action. The resulting Kalven Committee report includes the following statements:
- “The university is the home and sponsor of critics; it is not itself the critic. It is…a community of scholars. To perform its mission in the society, a university must sustain an extraordinary environment of freedom of inquiry and maintain an independence from political fashions, passions, and pressures.”
- “The neutrality of the university as an institution arises then not from a lack of courage nor out of indifference and insensitivity. It arises out of respect for free inquiry and the obligation to cherish a diversity of viewpoints.”
- “From time-to-time instances will arise in which the society, or segments of it, threaten the very mission of the university and its values of free inquiry. In such a crisis, it becomes the obligation of the university as an institution to oppose such measures and actively to defend its interests and its values.”
In the span of a few pages, the Kalven Committee articulated the values the University holds dear, argued why maintaining neutrality is the best reflection of those values, and laid out the exceptions that would lead the University to set neutrality aside and take a stand.
Did some University stakeholders disagree with the outcome of the Kalven Committee’s work? Undoubtedly. But the report remains in place today and continues to prove useful in guiding the University’s actions.
2. Align Your Positions With Your Firm’s Values
What are your firm’s values? What do you stand for? And how do your values connect you to your audience?
It’s unlikely that your firm needs to participate in every conversation or respond to every news headline. Part of communicating with authority is knowing which issues matter most to your audience and focusing your energies there.
As illustrated in the Kalven Committee example, your values and your audience’s needs should guide your communications strategy. Therefore, to decide how and when to speak out on social issues, bring the stakeholders you recruited in Step 1 together to explore questions like:
- Who is our audience, and what do they value? Are there factions and opposing viewpoints we need to consider?
- What issues impact our audience most acutely? Will they expect us to respond when those issues enter the headlines?
- Which issues intersect with our mission as an organization?
- Given the multiple constituencies we serve, what do we think is the proper role of the firm in the social and political sphere?
- What are our core values, and how have we expressed those values in the past?
- What is our history of social and political engagement?
Sometimes the more you think about an issue, the more challenging it will be to articulate a position. That’s normal. Again, outside counsel can help you wrestle with these complexities and arrive at the best course of action for your firm.
3. Make Your Firm’s Positions Public (and Communicate Your “Why”)
Reasonable decisions made with strong rationales will still be met with pushback. That’s especially true if they’re made behind closed doors and without transparency.
That’s why it’s so important to craft a statement about how your firm will respond when public discourse is fraught. Then publish that for your internal and external audiences to see and refer to as needed throughout the election cycle and beyond. This is your foundation – it should be set in stone.
Your goal should be to communicate openly and remove the element of surprise. No matter what position you take, some portions of your audience may not like what you have to say. But removing the uncertainty goes a long way in reducing disappointment and outrage.
Your audience will want to know:
- Who you invited into the decision-making process
- The questions you asked and the nuances you considered
- How you arrived at your conclusions
- Why you believe your position aligns with your firm’s mission and values
- What your position means to stakeholders
Don’t forget to ask for feedback. Welcoming the opinions and ideas of your internal and external stakeholders — and responding to their questions and concerns — is an effective way to build trust. Furthermore, inviting your audience to critique and iterate on your ideas is a defining characteristic of true authority.
Meet the 2024 Election Cycle Head-On
Savvy executives scan the horizon for looming threats and proactively put strategies in place to mitigate them. There’s no question that the 2024 election will bring plenty of communication challenges for your firm to overcome.
You might not know exactly what will precipitate the need for your firm to engage in a high-stakes conversation. But with the election news cycle ramping up, you can’t afford to wait for that moment to come. Let’s work together to figure it out now.
About the Executive Positioning Practice
Exemplifying Greentarget’s commitment to being a trusted advisor to clients, our Executive Positioning team provides C-suite executives (managing partners, CEOs, executive committees, and boards) with insights to anticipate, understand and respond to important global and social developments, analyzing key issues that can impact reputation and compel leaders to communicate.
As industry leaders and senior professionals look for sophisticated guidance on influential and complex topics, they are increasingly turning to podcasts as a quick way to absorb timely information. In fact, 43% of U.S. decision-makers regularly listen to podcasts for business-related news and thought leadership. Yet few are leveraging this growing medium to reach them.
Only a third of B2B content marketers have used podcasts within the last year, for example. And, according to Greentarget’s 2022 State of Digital & Content Marketing Report, C-Suite executives and in-house counsel rank podcasts at the bottom of the content they prefer to consume, indicating a significant lack of elevated and engaging content.
This should be a wake-up call for professional service firm marketers, especially as the influence of podcasts can often be stronger than other media channels. According to the Pew Research Center, 36% of podcast listeners have tried a lifestyle change because of a podcast they listened to, and more than half have followed the social media account of a podcast or its host. At Greentarget we’ve seen this firsthand, spearheading podcast campaigns that have reached thousands of executives and sparked impressive engagement across LinkedIn and Twitter.
As the number of podcast listeners grows, it’s critical that professional service organizations seize the opportunity. When used in tandem with a solid digital media strategy, podcasts can spur conversations between key decision-makers, drive up the number of visitors to companies’ owned channels, and generate new business development.
Below, we outline a few benefits—and how marketers can achieve them.
Drive Organic Traffic to Owned Media Channels
To some extent, podcasts are self-selecting. By choosing to play your podcast, listeners have already raised their hands to say that your content’s subject matter is what they are interested in. It should come as no surprise then that 80% percent of people who start a podcast listen to most or all of the episode.
That increased focus gives professional service organizations the opportunity to steer listeners to other relevant owned content on their website. For instance, Greentarget has been able to craft bylines and owned blog content based on several conversations that podcast hosts have had with their guests.
And because that content is more likely to coincide with their interests, it can be valuable tool in driving newsletter subscriptions, report downloads and organic traffic. Once you have drawn listeners into your marketing pipeline, they are more likely to reach out and enlist your services.
Reach an Audience That Matches Your Target Demographic
Research shows that most podcast listeners are educated, tech-savvy, affluent and diverse, and the medium is known for reaching on-the-go professionals of all ages. While the majority of monthly podcast listeners are between the ages of 12 and 34, 43% of monthly podcast listeners are aged 35-54—an increase from 39% in 2021. These segments of the U.S. population largely align with the demographics of professional services organizations, meaning a podcast has greater potential to reach them over traditional media channels.
What’s more, podcasting is quickly becoming a global medium. Monthly downloads for podcasts around the world ballooned by millions in the first quarter of 2023, and experts anticipate the number of podcast listeners will reach over 500 million by 2024. As reaching a global audience becomes increasingly important for growing professional service organizations that work across borders, podcasting can help overcome the regional limits of traditional news outlets.
Position Authorities as Authentic and Trustworthy
According to the Edelman Trust Barometer, consumers trust business more than any other institution globally. Listeners trust industry leaders who weigh in on important issues. As organizations face increased scrutiny around the credibility of the information they produce, podcasts offer a way to deliver those perspectives in an authentic, believable way. The nature of the medium enables thought leaders to showcase not only their knowledge but their personalities and unique voices.
Generate Networking Opportunities
Authorities also stand to make personal connections with the wide variety of industry experts featured on their show. This can open up better networking opportunities, and in some cases, lead to a beneficial partnership between organizations.
Take our podcast partnership with Berkeley Research Group (BRG) , for instance. Through the firm’s Insights from the Top podcast, host Dr. David Teece was able to build strong relationships with law firm leaders in the U.K. and as far as South Africa. Other podcast hosts at the firm have appeared as guests on podcasts hosted by close acquaintances, and vice versa.
A Small Investment Can Yield Big Rewards
Creating a podcast takes little in the way of capital investment. Nowadays, a hundred-dollar microphone, earbuds, a quiet room and simple software are enough to produce a high-quality listening experience for your podcast audience. And now that the pandemic has habituated listeners to the audio quality you might expect in a Zoom call, the bar to entry is lower than ever.
Best Podcasting Practices
If you’re convinced that podcasting might work for your professional services organization, here are a few rules of thumb that will guide you on your journey to launching your very own podcast series.
- Stay the course: Since anyone can throw their hat into the podcasting ring, it can take more than a few one-off episodes to rise above the noise and gain a diverse and dedicated following. This is often why more than three in four podcasters give up on a show within 12 months of launch. So, it’s important that professional service organizations make a long-term commitment to a podcast with the expectation that they are unlikely to garner a substantial following in the first few months. The most influential professional services podcasts out there today—The McKinsey Podcast, Deloitte’s Global Insights, you name it—invested significant time and resources before gaining traction.
- Integrate podcasting into a holistic communications plan: Podcasts can be repurposed in the creation of other content that can be shared across different platforms, such as infographics, blogs and newsletters. Conversely, podcast episodes can center around insights and findings outlined in other forms of content, e.g., research reports, whitepapers, etc. Professional services firms should use these strategies to extend the shelf-lifeand expand the reachof existing content.
- Be candid: Podcasts bridge the gap between informal, authentic communication and measured thought leadership. Since a podcast can always be edited after a recording session takes place, authorities and their guests can—and should—speak frankly about today’s most pressing issues. They can rest assured that they will always get the right message across to their audience—even if it’s in the editing room.
There Has Never Been a Better Time to Dive into This Growing Medium
As stakeholders continue to shift from traditional to owned media channels for their information, it’s crucial that professional services firms evolve alongside them. In our hyper-saturated media landscape, people are often bombarded with opinion-based content—from the moment they sit down at their work desks to when they nod off to sleep, phone in hand.
Podcasts offer an unusual respite from this barrage of information. They are played in the car, at the gym, or on an evening walk. And because a listener gets to decide what they listen to, they are more open to the views expressed on a podcast than say, an algorithmically curated TikTok video or an op-ed shared by a colleague on Facebook.
With over three million active podcasts out there and counting, professional service organizations can’t afford to ignore this rising—and very personal—content medium.Greentarget knows how to develop a podcast from front-to-back. Whether it involves pre-episode storyboarding, audio production or digital promotion, we have the tools to position any podcast for success—so let us help you jump into this frequently overlooked medium.
As Western law firms that spent years growing their footprints in China either exit or retrench, the reason global firm Dentons cited for doing so stands out for its directness.
In a memo to clients, Dentons said it ended its tie-up with Beijing Dacheng Law Offices “in response to an evolving regulatory environment for Chinese law firms in China—including new mandates and requirements relating to data privacy, cybersecurity, capital control and governance.”
As conditions in China become increasingly challenging, how a firm communicates a decision to withdraw need not be left to the last minute – indeed, firms should have plans in place now, especially as the prospect of greater conflict in the region looms. The unlawful Russian invasion of Ukraine and Hamas’ more recent incursions into Israel signal the importance of having risk management and corresponding communications plans in hand before the next geopolitical crisis, which many believe will be Chinese President Xi Jinping’s inevitable attempt to take Taiwan.
The pullback among foreign law firms is the latest evidence that the Chinese government’s heightened focus on national security and related geopolitical tensions is impacting the ability of professional services firms to do business there. The Big Four auditing giants have also shut down legal affiliations with local firms in China, according to Law.com. Meanwhile, Chinese authorities earlier this year probed operations at China offices consulting firms Bain & Company and Mintz Group, and detentions of foreign executives are adding further chill to the business climate.
As one anonymous Dentons partner told The American Lawyer, “It wasn’t really a corrosion of our relationship [with Dacheng]. It’s more that it’s become impossible to serve our clients properly, those that have China links.”
Worsening Economic and Geopolitical Conditions Raise the Communications Stakes
The changes global law firms made to their Chinese platforms in 2023 are part of a longer-term trend. The number of foreign law firm offices in China has been in decline for five consecutive years, falling by 16% to 205 as of the end of 2022, according to Chinese Ministry of Justice data, with U.S.-based firms leading the withdrawal. More firms will likely be queueing up behind Dentons and others heading for the exits as China’s economic downturn deepens, limiting business opportunities while trade tensions slow cross-border investments.
These developments come as heightened tensions between China and Taiwan once again fan speculation around a possible Chinese invasion. Affluent Taiwanese are transferring wealth abroad or shifting money into portable assets. Multinational companies are taking force majeure clauses one step further and inserting provisions into contracts specifically tied to China-Taiwan tensions. Meanwhile, America’s military and political leadership are discussing deterrence and timelines of a possible Chinese invasion amid growing economic and diplomatic pressure.
Coupling these conditions with the increasingly aggressive Chinese regulatory stance toward foreign firms, leaders of professional services organizations must consider the possibility that a conflict in Taiwan could further compromise their business and compel them to communicate their position on Chinese aggression – operationally and philosophically – with clients, employees, regulators, and the public.
Recall the weeks following Russia’s invasion of Ukraine. Hundreds of global companies shut down Russian operations within a few days. Professional services firms were slower to react than other organizations and their responses varied widely—from resigning clients based in Russia to taking no action at all, perhaps reflecting the difficulty of giving up work when it can be done from anywhere.
Given the difference in the size of the Chinese and Russian economies and levels of foreign direct investment, we would expect even greater difficulty unwinding from China than from Russia despite China’s lackluster economic outlook. The International Monetary Fund last year ranked China the third most prominent destination for foreign direct investment, totaling $3.6 trillion in 2021. (This doesn’t count Hong Kong, which received another $1.9 trillion.) Russia isn’t even in the top 10.
As we saw after the invasion of Ukraine, intensifying Chinese aggression toward Taiwan would likely be followed by swift international condemnation and calls for Western firms to withdraw or to limit activities that could be said to support the regime. Other complications, from head-butting between the Chinese and U.S. militaries to stepped-up regulatory actions against foreign firms operating in China, could elicit similar responses, highlighting the need for firm leaders to be prepared for such eventualities.
In a Volatile World, Organizations Need a Proactive Communications Strategy
It is critical that firms have a clear framework for whether and how to respond to such crises, beyond the compulsory need to communicate regarding local staff who may be in harm’s way. As a starting point, we recommend the process we developed to help leaders decide whether and how to respond to social and political issues since the murder of George Floyd.
The Conference Board is aligned with our process. It recommends considering the issue’s alignment with the following:
- Your organization’s core values
- The requirements and expectations of internal and stakeholders
- The connection between the issue and business
- The significance of the issue to society
- The incremental impact your organization may have
Firms should choose how prominent a leadership role they wish to play and be transparent with stakeholders about the criteria and process they employed in deciding whether and how to respond. (Firms structured as vereins, with members and affiliates in different parts of the world, should take note of this last point.)
And as consulting giant McKinsey points out, you should also consider adjusting your corporate narrative with an eye to shifting geopolitical risks. If you have an early handle on how you would respond if a specific crisis occurred, consider whether that is aligned with how the firm talks about itself today. If that narrative conflicts with your anticipated position, shifting your narrative early can avoid confusion among internal and external stakeholders down the road.
Engaging with us in a rigorous scenario planning process can bring significant clarity. That’s especially the case if the process is conducted before the crisis occurs and urgency overtakes the opportunity to be thoughtful. We’ve helped clients navigate the invasion of Ukraine, the repeal of Roe v Wade, and the Oct. 7 attacks on Israel. Reach out if we can help you, too.
About the Executive Positioning Practice Exemplifying Greentarget’s commitment to being a trusted advisor to clients, Greentarget’s Executive Positioning team provides c-suite executives (managing partners, CEOs, executive committees, and boards) with insights to anticipate, understand and respond to important global and social developments, analyzing key issues that can impact reputation and compel leaders to communicate.
In times of economic uncertainty, client retention is of paramount importance. After all, when there’s less new business to be had, focusing on retention protects crucial month-to-month revenue and becomes a strong foundation on which future growth is built.
Of course, focusing on client service will also yield valuable dividends no matter the economic circumstances. That’s why at Greentarget, we’ve spent several years defining the brand promise we deliver to clients. As a result, “The Greentarget Way” has become an integral part of our team culture. Every employee knows what it takes to live out our ideals when working and collaborating with clients.
ChatGPT can’t replace the kind of thought leadership that true authorities are capable of producing. Its prose is still too wooden, unoriginal, and full of jargon to meaningfully convey your expertise.
But as a marketing leader at a professional services firm, reading the output ChatGPT generates should make you wonder: Is my firm’s marketing content truly any better? Are we saying something new and insightful? And are our subject matter experts providing content that’s genuinely useful to our audience?
AI can help you strengthen your content strategy and reach your audience more effectively — if you learn how to make it work for you. ChatGPT might not be able to write your content for you. But you can use it to spin up user-focused topic ideas, see what others have said about an issue to uncover a unique POV, and discover what your firm can add to the conversation.
Check out our ChatGPT Article Roundup to discover more ways to make AI the useful tool it has the potential to be.
