Political Impacts

Introduction

Political factors relate to how government policy, regulation and political stability impact your business and marketing environment. These can include tax laws, industry regulations, trade policies and funding opportunities.

Mature businesses regularly assess political risks and opportunities, especially when operating across regions or in regulated industries.

Best practices include:

• Monitoring relevant policy changes and legislative updates.
 
• Engaging with industry bodies or advocacy groups.
 
• Factoring political shifts into long-term planning.
 
• Understanding how political trends affect customer sentiment or investment.
 
• Staying compliant with all relevant regulations and standards.

Awareness of the political landscape helps you navigate change, avoid risk and spot strategic opportunities others might miss.

Understand and monitor political influences that could impact your business or marketing efforts.

Step 1: Identify Relevant Policies

• What government or regulatory policies affect your industry?
 
• Are you subject to any sector-specific rules, licences or approvals?

Step 2: Monitor Changes

• Who is responsible for monitoring legal and policy updates?
 
• Are there systems in place to stay informed?

Step 3: Engage with Industry Bodies

• Are you part of a peak body or association?
 
• Do you contribute to or benefit from industry advocacy?

Step 4: Factor into Strategy

• Do political trends or elections affect your customers?
 
• Are your strategic plans flexible enough to adapt?

Step 5: Ensure Compliance

• Are you confident in your compliance with laws, advertising standards or codes of conduct?
 
• Is your team aware of what's required?

Step 6: Identify Opportunities

• Are there grants, programs or partnerships available via government?
 
• Are you taking advantage of these?

Step 7: Score Yourself

Your Maturity Score

Use the Maturity Model scale:
1 = No awareness of political impact
2 = Reactive only when issues arise
3 = Some monitoring but inconsistent action
4 = Trends monitored and plans updated accordingly
5 = Proactive engagement, scenario planning and advocacy