Every year the government’s two annual fiscal set pieces provide great opportunities for accountants to put their name out there and stand out from the crowd. It is a time when their clients are looking to them for advice while the media are looking for expert comment.
Last year’s Autumn Budget saw major announcements and tax increases. With the fallout from that event still ongoing, anticipation is now building for the Chancellor’s Spring Forecast Statement.
Here we look at how accountants can use the Spring Forecast Statement to maximise their visibility in the media and underline their value as trusted advisors to clients.
Take the stage
Budgets are one of the few days a year when people look to their accountants, but to make the most of this platform takes work and preparation. To cut through all the noise on 3 March will take a co-ordinated effort from people across the firm.
Work will start at lunchtime when Rachel Reeves opens her speech in the House of Commons and will continue until late that night.
However, planning should have started long before. There are now more people than ever sharing comments and their opinions and journalists naturally gravitate to those experts they already have a relationship with.
It is imperative to target the media outlets you want to appear in, whether national or local, broadcast, print or online, and build relationships with key journalists in the run up to the event.
Preparation is key
The run up to Budgets and Statements increasingly sees governments road testing possible fiscal changes and policy ideas while business groups and other vested interests will lobby the Chancellor with their demands.
These give an idea of what might be announced on the day and allow accountants to prepare responses in advance. They can comment on the rumours, providing insights and advice, along with their own predictions on what the Chancellor might announce.
Identifying possible big issues mean comments can be prepared in advance and then tweaked if necessary on the day.
Comments should be factual without pulling any punches and should explain the implications of what the Chancellor announces, not simply repeat it.
War room
Many professional services firms create a Budget war room where teams dissect and analyse the big announcements as they happen. Irrespective of size of firm, the key is to allocate clear responsibilities.
Creating comment for journalists, putting out key messages on social media and planning client communications all require dedicated staff. There is a lot of content to create but this is a unique opportunity for accountants to highlight their expertise.
Client comms
Engaging with clients and the wider public through the media has many benefits. However, many practices will want to engage directly with their clients at this key time.
Mercia’s Spring Forecast Statement is available digitally via PDF and also comes in a content-only format delivered in a Word document.
Both versions allow you to tailor the content to include an opinion or personalise with contact details to signpost your availability to clients.
The summary of the budget can also be used to boost your social media presence and website traffic via posts and blogs raising the profile of your practice.
Interactive webinars in the days after the event allow accountants to engage directly with clients and answer their questions.
Grab the spotlight
The Spring Forecast Statement on 3 March is a golden opportunity for accountants to showcase their expertise and stand out from the crowd.
Mercia’s tax experts will be watching and will provide detailed analysis of the government’s fiscal announcements. This allows you to focus on adding value to your clients’ specific needs.
Find out more about our range of digital Spring Statement products.