Use plain language to share your TCF communication strategy by making your message easy to understand
A plain language TCF communication strategy means using a simple language that is clear and easy to understand. This means eliminating jargon, complicated language (when a simpler word would work) and three letter acronyms (TLA’s). Use the Clarity index to make your writing easier to read and understand. Clear writing is an essential skill for TCF compliance, but it takes time, practise and attention to detail.
For financial communication to be TCF compliant it needs to be clear and relatable
Why does a plain language strategy matter in TCF compliance?
Using clear and simple language helps with Outcome 3: Disclosure. Helping financial consultants share necessary sales material and information updates with consumers before, during and after the point of sale. Simple language keeps your audience in mind, and helps share necessary information in a way that they can understand. Clear communication saves time and money, improves customer engagement and helps increase employee participation. Plain English helps employees understand what the organisation stands for, the TCF goals and what they need to do to help make them a reality.
All spoken and written communication should be in plain and clear language that the average man in the street can easily understand. Ideas and information should be laid out in an easy to understand style that is not confusing. Additionally, all illustrations should be relevant and easy to understand.
Simple and understandable TCF communication saves time and money
Clear language saves organisations money and reduces the frustration caused by unclear communication. Simple language also helps reduce complaints from customers and staff. Understandable language helps reduce misunderstandings caused by jargon when training staff or communicating with customers. Policies and documents in plain English are easier to read and understand; this leads to more effective sharing of information with financial planners and customers. Simple language documents and marketing material reduces errors when people have to complete forms or share information. It is a waste of your customers’ and staffs’ time to have to read a document more than once to understand what it means.
Jargon-rich communication reduces customer confidence that you have Treating Customers Fairly as part of your culture.
Plain language with no jargon increases confidence in your brand. Too much legalese may make customers and staff feel like you are trying to hide something. When we are expected to follow an instruction or sign a document, we need to understand the information we are given. Communication in plain language allows stakeholders to make better-informed decisions, in less time. This increases their confidence in your communication and your TCF culture.
A clear and simple TCF communication strategy help engage your audience and reduce confusion.
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