Did you know that only 50% of businesses in America will survive for more than 5 years after they open? Fierce competition, financial pressures, and changes in the market can all contribute to a business failing. However, serious business crises can also have a huge impact on a business’s future.
So it might surprise you to find out that only 62% of US businesses have a proper crisis management plan in place. A strong crisis management plan can help to minimize the damage that a crisis causes. This can help to restore your reputation and get your business back on track.
When it comes to crisis management tools, an effective PR strategy is essential. Want to know more? Then read on now to find out why PR in crisis management is an absolute must for your business!
What is a Business Crisis?
Before we look at exactly how to use PR to handle a crisis and get your business back on track, let’s take a closer look at what a business crisis involves. These crises involve unexpected problems that can occur suddenly and threaten to destabilize your company.
This can include:
- Financial crises (such as a sudden loss of assets)
- Allogations of unethical practice or misconduct
- Lawsuits against the business
- Reports of illegal activitiy within a company
- Organizational crises (such as management misconduct)
- Technological crises (such as a hacking scandal or loss of data)
- Natural crises (such as natural disasters or global pandemics)
- Smear campaigns against your company
When managing a business crisis, it is essential to get on top of it quickly. Let’s take a look at how PR in crisis management can help.
PR Crisis Management Can Offer Advice and Guidance
Anyone working in PR crisis management will be used to reviewing business crises and assessing them quickly. This makes them a valuable asset to have in your team when a crisis hits.
They have the experience to assess the situation and offer their advice on how to proceed. Most importantly, they will be able to recommend what information you should share and what to keep under wraps for the time being.
They can help you put together a step-by-step plan for managing that specific crisis. This ensures that you can handle the situation properly from day one.
They Know How to Manage Communications
Communication is one of the most important parts of crisis management and this is PR’s area of expertise. After all, if you can communicate clearly, you can control the conversation about the crisis itself. That way you can direct what people know and what they focus on.
PR professionals will advise you on who to address first in a crisis. They’ll also help you put together what to say and give you tips on how to avoid topics that you’re not ready to talk about.
This means that you will be able to communicate in a calm and collected manner during your business’s crisis. This can go a long way to reassuring your customers, business partners, and employees.
PR Is Key For Managing Press and Media Attention
Speaking of communication, one of the most difficult things to handle in a business crisis is attention from the media. Thanks to the internet, it can be difficult to stay up-to-date with the latest news stories and headlines about your business. And this can leave you in a tough spot during a press conference.
It is a PR professional’s job to stay on top of all of this news and to help you react to it. They will update you on this information and draft supporting statements in response to headline stories. So no matter what the press throws at you, you will be ready to handle it.
In some situations, your PR team may recommend using a representative to make statements on behalf of the company. This can be particularly helpful if you have to deal directly with crisis management within your business. Or they may recommend using a representative if you have been directly involved in the crisis.
In that case, it is always a good idea to listen to their reasoning. They will always be working hard to show your business in the best light possible.
PR Teams Help You Transition After an Incident
A lot of business’s crisis managment plans focus on limiting the spread of a crisis. But it is also incredibly important to think about what will happen once the main crisis is over. There will still be a lot of tidying up to do and your business will take some time to recover.
During this time it is important to develop or redevelop a strong brand and marketing campaign for your business. This might be an overhaul or you might be reminding customers about what your business stands for. This is key to putting your business back on the map in a positive light and restoring faith in your brand.
An expert PR team will be able to put together a strong campaign to use as your business returns. This includes advising you on things you should or shouldn’t focus on in your new branding, in the wake of your crisis.
For example, let’s say that there has been an accusation of sexism in a company, which led to a crisis. Then your PR expert might recommend supporting women’s charities and promoting the inclusion of women in your marketing.
Planning this transition carefully is essential if your business is going to come back stronger and avoid future crises. So make sure you have an expert on your side.
Get Crisis Management Support Today
As you can see, PR offers a great insight into crisis management and how to handle an incident professionally and discreetly. This is essential to minimize the damage caused by a crisis and to restore confidence in your business. So what are you waiting for?
Get in touch today to find out exactly how Centipede Consulting can help you manage your business’s crisis.