A stark rise in the number of vulnerable customers has seen the Financial Conduct Authority (FCA) issue guidance for businesses to act fairly in support of audiences who need extra safeguarding. As the socio-political environment in which businesses operate continuously evolves, the definition of ‘vulnerable’ customers continues to adapt. A vulnerable customer is seen as someone who’s especially susceptible to harm due to their personal circumstances, age, disability, or risk of abuse or neglect. With the cost of living rising, the number of people falling into this category is increasing drastically.

So what does this mean for businesses? Morals aside, an effective strategy to act fairly in support of vulnerable audiences will help to eliminate risk of reputational damage, missed growth opportunities and weakening strategies. The only way to do this effectively and authentically is to be customer-driven. Here’s where to start…