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Financial technology companies face unique challenges when crises strike. Recent data shows that 57% of fintech companies experienced a significant crisis event in the past three years, with reputation damage cited as the top concern. This reality makes it essential for fintech leaders to master crisis management.
That is why PR is the one function within the marketing organization that is positioned to step up, take a leadership position and have the greatest impact on company reputation during this period. There is simply no better instrument during a widespread crisis than communications. People need more right now.
The Windows OS crash triggered by the faulty update disrupted airline reservation systems, financial institutions, and even hospital care. It was then up to Crowdstrike CEO George Kurtz to respond to the crisis. Swift acknowledgment and ownership of the crisis is key Crowdstrike’s response came as a status post on X.
Lou and I go into even more detail on this subject in episode #024 of The Crisis Intelligence Podcast. A crisis is a change. For example, some threats might include: financial earnings, reputation, human life, or physical assets. In the uncertain environment of crisis, responders must understand these three attributes of risk.
Recent studies show that 95% of business leaders expect their organizations to face a crisis, yet only 49% have a crisis response plan in place. A well-structured crisis management approach combines preventive measures, response protocols, and recovery strategies to maintain business continuity during challenging times.
One of the challenges of communicating effectively in times of viral issue and crisis management is ensuring that your brand’s communications are consistent across every stakeholder group, region and department. Crisis communication is complex, dynamic and critically important to get right.
For example, Microsoft’s Digital Defense Report provides transparency about threat trends while demonstrating security leadership. Financial services firms using predictive analytics report 60% faster threat detection times. Share your security posture through quarterly reports, focusing on metrics that matter to your audience.
Managing a public relations crisis in health technology requires careful planning, swift action, and clear communication to protect both patient safety and organizational reputation. Document all protocols in a crisis communication playbook that’s regularly reviewed and updated.
According to recent data from the FDA, medical device companies face increasing scrutiny over their marketing communications, with compliance violations resulting in significant financial penalties and reputation damage. This helps maintain transparency and ensures all stakeholders remain informed about current compliance requirements.
Thought Leadership Contributing to industry publications, speaking at conferences, and participating in webinars demonstrates expertise. Crisis Management and Reputation Management Effective PR mitigates damage and protects a company’s reputation in the event of a crisis or negative publicity.
Forward-thinking brands are already embracing the strategic advantages that social listening tools can offer when it comes to managing brand reputation, crisis detection, and optimising comms strategy. Yes, that’s right, it’s not just for marketing teams! So, they must be monitored and analysed closely.
The CIPR and PRCA have done an exceptional job in leading the industry in its response to the COVID-19 crisis. Thanks to CIPR CEO Alastair McCapra and PRCA Director General Francis Ingham for their leadership. The CIPR’s charitable benevolent fund iProvision is providing financial assistance to members.
I worked as part of a team of professional marketing and communications associations on behalf of the Government Communication Service at the outset of the crisis. According to a poll by the IoIC two-thirds of internal communicators said that leaders looked to them for more guidance during the crisis.
Preparing for these increasingly sophisticated threats and containing the damage when attacks occur requires a level of experience and expertise beyond that of a company’s day-to-day crisis team. Build a dedicated cyber-crisis team. Here are six things to think about: 1. Make key decisions ahead of time. Exercise regularly.
Brands can identify opportunities to showcase their social impact work through press releases, executive thought leadership, social content and influencer partnerships. However, clear measurement frameworks exist to track both social and financial returns. This coordinated approach builds credibility and amplifies reach.
Today’s crisis ridden world has put most businesses into a tailspin on how to handle the multiple issues (e.g., Reputations are often damaged during and after a crisis hits a company. CRISIS RESPONSE TEAM. Establishing the CRT is critical when attempting to mitigate against the damage of a crisis.
In many organizations, a major fragmentation exists between executive leadership and the communications function. Onclusive has observed that in many companies, communications often bounces between strategic relevance and task-oriented project work, unless a crisis is unfolding.
The chair of the Global Alliance introduces the Madrid Momentum ( Learning to Lead ) and details four Ps that constitute the cornerstones of PR leadership. Distance from an event lends a certain perspective, as we all know from our various war stories on crisis communication. The four Ps of public relations leadership.
Executives around the globe are facing a daunting task: leading their teams and organizations during the COVID-19 crisis. From economic uncertainty to anxiety and disruptions to daily life, there are many immediate and potentially existential issues for an organization and its leadership.
The crisis has accelerated many of the changes already underway in media, public engagement, and organisational communication, such as the role of communication as a strategic management function and a more human approach to communication by CEOs and management teams. Meaningful metrics ESG is a strategic journey for companies.
Welcome to episode #059 of The Crisis Intelligence Podcast, with Melissa Agnes and Sam Miller. Earlier this week, I published a #crisisready video that discusses the emotional factors that can quickly escalate an incident to crisis-level. Subscribe to the Crisis Intelligence Podcast! Running time: 49:30.
Blythe Campbell, APR , will lead PRSA’s new Leadership Communication Certificate Program , which starts on Aug. In an interview with PRsay, Campbell shares her insights on working with CEOs, leading virtual teams and overcoming barriers to management roles: What are the main distinctions between management and leadership?
In my case, it was as a PR writer of thought leadership articles. Even when something bad does happen, good public relations can temper its financial impact and minimize damage to the company’s reputation. When it does occur, the organization’s communications staff can launch into crisis response mode and use high-value messaging.
It may be hard to quantify the value of a reputation but it sure is meaningful when one of the world’s most prominent financiers says it’s important. Financier, PR man, crisis manager – and pitch man – this guy can do it all. PR crisis communications leadership PR strategy warren buffett'
Portland, OR, May 4, 2021 — ReputationUs , a firm specializing in reputation management and crisis response services, officially launched ReputationU —eLearning courses designed to train executives to safeguard their organization’s valuable reputations, mitigate brand damage and protect against the financial impact of a crisis.
“Inequality anywhere is inequality everywhere,” said panelist Debbie Ebalobo, director of external and financial communications for the Coca-Cola Company. There’s usually a ton of women in PR,” but “we need people of color and then, on top of that, we need people of color who are gay in leadership positions.”.
Financial services, as an industry umbrella term, includes personal finance, M&A, credit card related services, and robo advisors—just to name a few. What does Shadow Banking mean for a financial PR program? The Rise of Shadow Banking. As expected, the “big” banks offer something in all of these areas. Pivot Your PR Program.
Generating brand awareness PR is a great vehicle for generating brand awareness through media relations, news coverage and thought leadership content distribution, all of which contribute to increasing your brand’s online footprint. In our next article, we’ll dive into applying this methodology to PR measurement.
PR is a great vehicle for generating brand awareness through media relations, news coverage and thought leadership content distribution, all of which contribute to increasing your brand’s online footprint. This perspective can be helpful for communicators as they articulate the benefits of working together to their marketing colleagues.
I’ve chosen to share it with you because I want you to know that the fear you are likely experiencing amidst the Coronavirus (COVID-19) crisis is normal and it’s OK. We are in an unchartered, unpredictable, and highly volatile global situation; a crisis that is impacting every single person and every single business and it’s scary.
RISK 3: REGULATORY COMPLIANCE & ETHICAL VIOLATIONS Threat : Increased regulatory scrutiny on matters like data usage, financial practices, and consumer rights exposes companies to fines and legal repercussions. Greenwashing accusations, where companies are perceived as overstating their ESG efforts, can be particularly damaging.
That is the question individuals and organizations are asking throughout the world as a devastating humanitarian crisis unfolds in Ukraine. Humanitarian aid does not have to mean financial support. How can we help? There aren’t any right or wrong answers, but there are myriad ways that people can make a difference.
Now that we’re settled into another month of working remotely, our leadership team has focused on working better together and keeping our agency’s supportive culture at the front and center. We’ve always made a point to share financial updates (good and bad) with our team. Here are seven ways that you can help your team do the same: 1.
Underscoring the value of reputation, boards of companies that have recently experienced a reputation crisis within the past two to three years are even more focused on reputation. During a crisis, while the reputation of the company is at stake, a board of directors has its own reputation to consider as well. This is changing.
Financial services companies are getting into cryptocurrencies and have invested heavily in mobile experiences. Following new publications and key reporters in important verticals on Twitter, setting the right Google alerts and generally being vigilant through research each day will help PR pros advance client thought leadership.
Financial services companies are getting into cryptocurrencies and have invested heavily in mobile experiences. Following new publications and key reporters in important verticals on Twitter, setting the right Google alerts and generally being vigilant through research each day will help PR pros advance client thought leadership. .
In health care, “our clients have come to a screeching halt,” she said, but opportunities still exist in areas such as technology and financial services. Financial communications and investor relations are also hot areas now,” Delulio said. There’s a hyper-focus on internal communications right now,” she said.
Through HPRA National and our local chapters in Los Angeles, New York, Miami and Chicago, we bring forth resources and expertise through thought leadership, networking and scholarship programs. This is something PR practitioners know well through crisis communications but truly applies to all areas of public relations.
If you’re not monitoring what people are saying, your brand could have a full-blown crisis on its hands. Adam Friedman, owner of Adam Friedman Associates, says maintaining a brand’s reputation is a constant process and can be a challenge, especially for financial companies. Today, financial firms are under attack.
The site has 5,000 agencies and consultant profiles in areas including crisis communications, public relations, internal communications, government affairs, investor relations, content marketing, social media, SEO, website development, photography, and video. Listing & Search are Free. See more articles on our Insights Blog.
Public relations must take responsibility for its role in the climate crisis. The public relations industry is falling over itself to help businesses get to grips with the climate crisis. The climate crisis is in plain view. Agency initiatives and new roles appear daily in industry publications. This is the carbon bandwagon.
Even for a consulting firm as large and successful as McKinsey, the mammoth $573 million, 47-state settlement they negotiated earlier this month regarding their long-term work with Purdue Pharma LP has to hurt financially. It certainly does reputationally. But following principles like these and having your own moral compass can guide you.
During times of crisis, vulnerable communities, including LGBTIQ people, become more vulnerable. One major concern is financial viability in a difficult economic climate. We hope all communicators will see how the LGBTQ community has come together in innovative ways during this crisis.
The controversy over the Navy’s collaboration with Kelley underscores the importance of consulting with legal, human resources and financial departments and of making sure that all stakeholders are considered before deciding to work with a social media influencer. The military as a whole faces a severe recruiting crisis.
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