Marketing Around Risk: How Do We Communicate Risk To Customers?

Matthew Leopold, Head Of Brand, Content & PR at LexisNexis, delves into the intricacies of marketing within regulated professions, focusing on the delicate balance between communicating risks and maintaining trust.

Drawing from his rich background in B2C and B2B marketing across various industries, Matthew sheds light on the challenges and strategies of conveying risk information in a way that educates without alarming, ultimately fostering informed decision-making among consumers.

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Matthew is a strategic marketer specialising in technology marketing for B2B and B2C blue-chip corporates. He has been involved in shaping and implementing brand strategies and communications for most of his career. He has driven brand marketing for FTSE 100 and NYSE listed businesses in the UK, USA and in a number of countries around the world.

Key Takeaways

• Prioritise transparency in risk communication to enhance brand loyalty and trust.
• Emphasise how your products or services manage or mitigate risks, balancing information between risk and solution.
• Avoid inducing unnecessary fear or anxiety by steering clear of alarmist language in risk discussions.
• Support discussions about risks with data, proof points, and case studies to add credibility and effectively manage concerns.

Interview Summary

Q: How does your team approach marketing around risk?

A: We focus on educating and informing our clients about risks and the steps they can take to mitigate them. The better we communicate these risks, the more effectively our clients can minimise their impact.

Q: What has been your professional journey to LexisNexis?

A: My career has spanned B2C and B2B marketing, from British Gas to aviation and technology sectors, before landing at LexisNexis. My role involves top-of-funnel engagement, shaping interest in our brand and offerings.

Q: Why is communicating around risk crucial in marketing?

A: Communicating risk is vital for setting realistic expectations and building trust. By being transparent about risks, we can foster brand loyalty and enable informed decision-making among our clients.

Q: How do you balance fear mongering and transparency in marketing?

A: It's about educating rather than alarming. We aim to provide a balanced view that educates our audience on risks and their implications, while also highlighting solutions our products offer.

Q: What role do AI and other technologies play in marketing around risk?

A: Technologies like AI introduce new avenues for personalised communication and insights into risk. However, they also bring challenges around data security and ethical considerations.

Q: Any advice for professionals in regulated sectors on communicating around risk to their clients and customers?

A: Transparency builds trust. Openly addressing risks in marketing materials demonstrates honesty and can drive informed decision-making. It's also about setting realistic expectations and differentiating your offerings by showing a deep understanding of the industry's complexities.