I once worked with a company subject to a bear raid. An anonymous group had taken short positions in the stock, which had achieved a high valuation, and then published articles and conducted interviews to drive the stock price down. Happily, the accusations were based on mis-framings, innuendo, and even a few fake websites. We chose an aggressive strategy wherein we disputed each claim via 8K and press release as they were made. We also sought out interviews with the reporters who had published the claims to demonstrate the ways they had been misled. This lessened the shorts' ability to place tips whenever they needed the stock price to go down and protected the valuation (the shorts got squeezed).
We at Ubuy had an issue late last night that caused some customer orders to fail. We didn't wait for complaints because we knew a problem customer was a disappointed customer. We emailed everyone affected, explaining the problem and suggesting a solution. We also present a discount code as "mea culpa" (a fancy way of saying "our bad"). By being honest, we can inform people, avoid the social media firestorm, and turn a difficult situation into an opportunity to show that we care.
Gaining positive news coverage year round about your organization is priceless. Someday, when bad news happens, and it always will, the viewers and readers of your news media outlets will learn that someone in your organization caused a concern or allegedly did something wrong. But if you've been consistently gaining positive news educating your public about your great work underway year round, it helps tremendously, when your public and your reporters already have a positive opinion about your work, your team, your organization. On our one bad news day, I reached out to all media contacts, even though I didn't know what I could or couldn't say at that point, I at least let them know I was working on a response for them, and I did get them all the info I could as soon as I could. When they had misinformation from other sources, I let them know. Because they communicate with me multiple times per year on other stories, they were very open to listen to me and wait for my response. They did not cover the misinformation that was negative.
Communicating in times of crisis is an opportunity for your organization to truly show the world (internal and external) its real personality and commitment. The organization is being judged for its reaction time, style of reaction, tone of reaction and credibility. This is something you plan for and practice to be ready for. One experience where proactive crisis communication was crucial for our brand's image was coming into the spring 2022 season. Like many other post-COVID markets in Canada, Housing Inventory was scarce, Halifax was the second fastest growing city in Canada, and affordability was a problem. All that to say, market conditions and the public's image of REALTORS(R) was not ideal. The public believed that REALTORS(R) didn't have to do much work to make a lot of money and were 'raking it in'. In reality, the majority of REALTORS(R) were feeling heartbroken for their clients as they would be out bid. REALTORS(R) were finding themselves having to prepare 4-6 offers for each client in an attempt to get a home for their client. So, we implemented a 'crisis' communication plan which aligned with our paid marketing campaign within the Province which would highlight the value of REALTORS® as a trusted guide to home buying and selling, while demonstrating their expertise and commitment to Nova Scotians and their home. We did this with: - STORYTELLING + RELATIONSHIP BUILDING - Extending in market presence to build trust with audiences. - INCREASE VISIBILITY + PROMINENCE OF REALTORS® These messages were also shared with staff and they were briefed on market conditions and some of the reputation damage the market was causing REALTORS(R). The implementation plan included: - interviews with media conducted by our President who was also a REALTOR(R) - using the approach that we would prefer to control the narrative. - marketing on you tube, digital, radio, out of home and paid search showcasing the care and concern REALTORS(R) use with their clients to find a suitable home. We also conveyed the message that REALTORS(R) are part of their communities and know the people, resources and services to support a homebuyer or seller. This strategy resulted in: 32 media interviews with local and national media The 2022 Search campaign ended with impressive results, seeing a CTR that is 754% higher than 2% industry benchmark.
Communications Director
Answered 2 years ago
While I don’t have large scale crisis experience, my personal philosophy is timely transparently is critical to maintaining your audience’s trust. In the age of heavily edited, AI doctored reality, people value honesty in real time. Own up to the truth, don’t explain it away. Explain your next steps and follow through.