How to Effectively Communicate With Key Stakeholders
Stakeholder communication is an essential skill for all organisational leaders, whether they realise it or not.
Effective communication with your stakeholders can make a significant impact in developing strategic partnerships, growing your influence, making better decisions, and managing risk.
What is stakeholder communication?
Stakeholder communication refers to the methods used by organisations to share information and engagement opportunities with stakeholders – the people and groups affected by, influencing, or interested in your project or organisation.
It can also relate to how stakeholders contact an organisation with enquiries, complaints, and feedback.
Some common methods of stakeholder communication include:
Emails
Letters
Messages
Reports
Surveys
Phone calls
Face-to-face meetings or events
Social media content
Blog/news content
Communication is an important component of stakeholder engagement and management because it allows organisations and stakeholders to communicate information, manage expectations, and develop a shared understanding.
Key principles of effective stakeholder communication
Identify Stakeholder Needs- The better you understand your stakeholders, the more effectively you can communicate with them. By only providing relevant information, it’s more likely that your stakeholders will pay attention when they hear from you and respond to your communication.
Tailored communication- Personalised communication is more likely to engage stakeholders; taking into account their specific interests and concerns shows that the organisation values their uniqueness.
By engaging with stakeholders in their language and using their preferred method, the organisation ensures that its messages are understood by all those to whom they are addressed. Messages that have been adapted in this manner are more likely to be heard and understood, which increases communication effectiveness.
Encourage Feedback- Your stakeholder communication should allow for plenty of feedback from stakeholders. This includes offering various contact points for stakeholders, as well as chances for participation in the project or engagement process.
It may be as simple as sending out stakeholder questionnaires for feedback on your plans, or you organising meetings, focus groups, and events where stakeholders can share their thoughts and perspectives.
The feedback will provide you with useful insights into your stakeholders and project, as well as suggestions for how to increase engagement in the future.
Regular updates and verifications- Keeping stakeholders informed about project development and constantly soliciting their feedback, and concerns helps to fuel ,and sustain their commitment. It also allows problems to be identified and addressed before they escalate.
Companies that remain alert in their communications ensure that they are agile and adaptable in the face of change, opportunity, and the unexpected.
Transparency and honesty- These two principles are vital for developing and maintaining trust, which is a necessary component of long-term, productive relationships. Transparency helps to manage stakeholder expectations and avoid conflicts by providing clear information about aims and plans. It also increases a company's trust and reliability, which improves its reputation.
If you’re ready to close the gaps in your stakeholder relationships, contact us today. Our team helps organisations in different industries improve their stakeholder communication.