What are the best ways to explain macroeconomic insights to non-economics clients?

1 Use simple language

One of the most common barriers to effective communication is the use of jargon, technical terms, and acronyms that are unfamiliar or confusing to your audience. While you may be used to speaking the language of economics, your clients may not. Therefore, you should avoid using unnecessary or obscure terms, and explain any concepts that are essential to your message in plain language. For example, instead of saying "the fiscal multiplier is positive and significant", you could say "government spending boosts economic activity and creates more jobs". Use examples, analogies, and stories to illustrate your points and make them more memorable.

2 Focus on the key message

Another challenge is to avoid overwhelming your clients with too much information, data, or details that may distract them from the main point you want to convey. You should identify the key message that you want your clients to remember and understand, and structure your communication around it. You can use the "what, so what, now what" framework to guide your communication. First, explain what the macroeconomic insight is and what evidence supports it. Second, explain why it matters and how it affects your clients' goals, challenges, or opportunities. Third, explain what actions or recommendations you suggest based on the insight.

4 Know your audience

Different clients may have different needs, expectations, or preferences when it comes to macroeconomic insights. You should know your audience and tailor your communication accordingly. You should consider their level of knowledge, interest, and involvement in macroeconomics, their goals and objectives, their challenges and pain points, their decision-making style and criteria, and their preferred format and channel of communication. You should also anticipate their questions, concerns, or objections, and address them proactively or respectfully. By knowing your audience, you can make your macroeconomic insights more relevant, useful, and persuasive.

5 Seek feedback and improvement

Finally, you should seek feedback and improvement on your communication skills and methods. You should ask your clients for their opinions, suggestions, or questions on your macroeconomic insights and how you presented them. You should also ask your colleagues, mentors, or experts for their feedback and advice on how to improve your communication. You should also monitor and measure the impact and outcomes of your communication, such as how it influenced your clients' decisions, actions, or results. By seeking feedback and improvement, you can learn from your experience and become a better communicator of macroeconomic insights.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?