Don’t Worry, You Really Can Build A Crisis-Resilient Brand
Brands are more susceptible to catastrophe today than at any point in modern history.
“With the rise of social media and the 24/7 cycle of media today, news spreads faster than ever,” said Nick Bell, vice president of marketing communications for Cision. “In times of crisis, this quick dissemination of information can add fuel to the fire and amplify negative news in a matter of minutes.”
Company leaders used to worry about Mike Wallace, of “60 Minutes” fame, walking through their front doors with an allegation and a camera. “Now everyone walking into your building has a camera,” said Kelly O’Keefe, professor at the Virginia Commonwealth University (VCU) Brandcenter. “This makes businesses incredibly vulnerable.”
Couple that with all-time low levels of public trust in corporate and governmental institutions, and you have a veritable recipe for brand disaster, added Dustin Longstreth, chief marketing and strategy officer at branding agency CBX.
Assessing The Damage
The failure to control organizational crises in the earliest stages can cost companies dearly—impacting value, revenue, and long-term reputation. Yet many businesses fail to respond quickly enough to brand-damaging issues. More than a quarter (28%) of crises reported spread internationally within an hour, according to a worldwide survey […]