Crisis management can be broken down into four parts.
First, what is the right thing to do?
Second, mathematical calculations. What is the size of our business to protect? (sales volume, value of brand). To which extend will the crisis impact us? (potential sales lost, damage to the brand). How much would it cost us to fix the problem, from your point of view but most importantly from the customers’ point of view?
Third, communications. What would be the impact of our response? Effective crisis communications would comprise off the following:
1. How the message is delivered: where, how
2. Who delivers the message: your CEO or your PR person?
3. The content of the message: is your message credible and trustworthy? Trust depends on four key factors : empathy (50%), honesty (17%), expertise (17%), dedication (17%). Do your messages demonstrate these four key factors?
4. Who is targeted by the message: shareholders, consumers, etc
Fourth, turning a crisis into an opportunity. A crisis is a great opportunity to demonstrate your company values and show the world what you are about. It can be a great communications platform.
