How to get PR coverage around the Budget
The Chancellor of the Exchequer will announce the UK Budget on March 15.
As well as the traditional posing outside Number 11 with a red box and the cut and thrust of the speech at the despatch box, the Chancellor’s announcements will spark a flurry of activities by PR agencies whose clients are eager to comment and capture a bit of the limelight.
But, how do you get PR coverage when the Budget is announced? Is there an opportunity for you to cast yourself as an expert around Budget time?
In truth, it is a very competitive time for gaining PR coverage and, unless you have got something very original and compelling to say, your opinion or take on the country’s financial position may well get lost in the tsunami of announcements, statements and press releases.
Of course the major discussions will be around finances and how any changes in the budget may affect businesses as well as consumers. This is a happy hunting ground for tax specialists – but you can be sure that all the major firms will be pointing out the same things. The ones that will pique the interest of journalists will be those that say something different.
But it is not just the views of tax experts that journalists want to hear. Whatever business sector you are in, the Budget is likely to impact you and journalists will be eager to know how. . Being able to make a timely, and relevant statement about how the Budget will impact you, your staff and your business, will set you apart and may generate more column inches, airtime or web space.
Similarly, journalists want to hear how the budget is likely to impact on your customers and clients. Most PR is aimed at building your reputation among those you want to influence. By demonstrating you know what is likely to affect them, you set yourself apart from others who just want to sell, sell, sell.
In effect it is best to look at the Budget not as a one-off event on March 15, but as an opportunity to run a mini campaign.
Firstly, in advance of the Budget, there is always a period of speculation. In recent years there has been a trend for the Government to signal and leak aspects of the Budget well in advance to test the water.
Journalists are always looking for comment and information to help them flesh out these stories and industry examples of possible or probable impacts of change will often make a story. So too will pleas from industry sectors answering the question: “What would I like to see in the Budget?”
Of course all of these will be far too late to influence the thinking of Chancellor Jeremy Hunt but they are good discussion points that are topical and relevant to business.
On the day itself, most journalists are just looking for a very short “reaction” quote, so don’t put a massive effort into rushing out pages and pages of analysis – leave that to the big international accountancy firms.
But, alongside the quick, short statement to go out to the media, an analysis that is easy to digest and that you can put on your own website and promote on email or social media, will ensure you talk to your own database of important and key contacts.
Historically, people held Budget events – using the announcement to invite people to the office to watch the announcement live on television, followed by a round table discussion. Covid restrictions and the move towards less dramatic Budget days has changed the landscape but it is worth considering as an opportunity to get face to face with your key contacts.
Every Chancellor of the Exchequer likes to pull a rabbit out of the hat on the day with a surprise announcement. It wrong-foots the opposition and is generally aimed at being the headline-grabbing talking point. If the particular rabbit happens to have an impact on your business or your customers then that is the time to act quickly and put yourself forward for comment.
For most, the opportunities to gain meaningful coverage comes after the event. Budget day is followed by lots of announcements by the Treasury and HMRC digging into the detail of changes that have been made.
Journalists often do not have the time – or frankly the expertise – to wade through all of this. But they really appreciate someone finding a nugget of interest in these documents and pointing out an interesting story to them. This is where good PR practitioners can make the most impact and start to drive the debate and discussion.
Trade media, in particular, appreciate someone in the business interpreting a dry Budget document for them and outlining how things will change within an industry as a result.
So whether you are a restaurant, which will want to talk about the increase in duty on wine, a fleet manager with a view on fuel duty or a banker looking at future interest rates, your views are valid. Journalists also want to know what effect the budget will have on small, medium and large businesses – so everyone fits into one of those categories and can position themselves with a point of view.
In summary:
The Budget is a great opportunity, but it is a very crowded and competitive time too. Thinking about what you can say before, during and after the event and which will have the biggest impact is the key to getting coverage.
