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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.
A whopping 88% of brand executives view reputation risk as a top strategic business concern, according to a survey by Deloitte. When a reputationcrisis hits your company, you must take action to rebuild your public image. Otherwise, your brand might end up losing market value and plunging into a financial deep hole.
As International Womens Day approaches on 8th March, Celine Moran, Lisa Simmons, and Vasiliki Vokou, from Liminala leading financial services communications agencyshare their insights on womens evolving role in financial PR.
What is Enterprise Risk Management for Reputation? Enterprise Risk Management (ERM) for reputation is a structured framework that allows organizations to identify, analyze, and respond to their possible risks. Have you ever thought of how prone your business is to risk and how efficient it is to respond to a crisis?
Recent data shows that 54% of small businesses have experienced a crisis that threatened their survival, yet only 23% had a formal communication plan in place. The ability to respond quickly and effectively to unexpected situations often determines whether a business maintains its reputation or suffers lasting damage.
It’s a major mistake to treat issue and crisis as interchangeable terms. Issues can be the warning signs that a crisis is possible. And issue management can be regarded as a powerful tool for crisis prevention. In fact a crisis has been known to be described as an issue that WASN’T managed.
The 2016 Aon Global Risk Management Survey that polled CEOs, CFOs and risk managers ranked damage to brand and reputation as a top concern, displacing the financial and economic risks that have traditionally dominated this survey in the past. It is essential to be prepared and be ready to respond if and when a crisis occurs.
Financial Services PR execs and agencies are still struggling to combat an industry peppered with regular fines, lawsuits and other scandals. ONLINE REPUTATION MANAGEMENT. Many a financial services firm has discovered that when a search for the company or brand name returns 8 or 9 negative listings it adversely affects revenue.
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. Adaptive Crisis Response. There are few standards in crisis. Tune in here.
As negative headlines begin to dominate news outlets, social media buzzes with speculation, and phones ring incessantly with concerned stakeholders from an organization engulfed in crisis. The situation starts threatening the company’s reputation, financial stability, and employee morale.
Apple is in the process of fixing what The Globe and Mail has called a “gaping hole” within their security software, “which gave spies and hackers the ability to grab e-mail, financial information and other sensitive data.” This is a major potential crisis for Apple. ” What a nightmare. Case Studies'
This staggering figure doesn’t account for the long-term reputation damage that follows a public cybersecurity incident. However, rushing incorrect information can multiply reputation damage. Financial services firms using predictive analytics report 60% faster threat detection 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.
Melissa’s #1 despised buzzword: Social media crisis. The fact of the matter is that a crisis is a crisis. The definition of a crisis: A negative situation / event that threatens to have long-term repercussions on the organization’s reputation and/or bottom line. So let’s call it like it is!
To keep your company from falling into this PR trap, this blog post will teach you everything you need to know before you can get started with your crisis communication strategy. Let’s start with what crisis communication is. What is crisis communication? However, crisis comms isn’t just about the actual communication part.
A book that provides a blueprint for modern reputation management. Reputation Management: The Future of Corporate Communication and Public Relations by Tony Langham is a guide to the importance of reputation for modern organisations. Organisations focused purely on financial performance have been hit hard by the crisis.
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.
One small mistake can send an organization into a spiraling PR crisis that can severely damage their reputation and trustworthiness with the public. . Reputationalcrisis. His reputation quickly plummeted, and Smith is now banned from attending the award show for the next ten years. . Public safety crisis.
Business environment in Mexico Mexico holds a strategic position as the economic and financial hub of Latin America, offering unique business opportunities. Key expertise of Eje Comunicación Corporate Communications: Reputation management. Preventing and managing Crises and Risks: Managing crisis or special situations.
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.
One essential element that contributes to the overall reputation of businesses is a corporate social responsibility. Investing in CSR can help companies develop a corporate reputation, and attract customers while protecting businesses from any damage to their reputation, as well as helping them recover faster after a PR crisis.
Today, RepUs published its TEN REPUTATION RISKS AND IMPACT FOR 2025. Corporate reputational risks are rapidly evolving, and as of now, the top ones include a mix of longstanding challenges and emerging concerns driven by digital transformation, regulatory scrutiny, and shifting societal expectations heading into 2025. MITIGATE RISKS.
In 2025, the use of AI-driven analytics for investment decisions will be ubiquitous, helping VCs identify and nurture ventures that use machine learning, automation, and data-driven solutions in areas like healthcare and financial services. These tools are no longer just helpful—they’re central to the VC firm of the future.
Crisis Management and Reputation Management Effective PR mitigates damage and protects a company’s reputation in the event of a crisis or negative publicity. A well-prepared PR team develops crisis communication plans, responds to media inquiries, and restores public trust.
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.
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. Jon Goldberg is the founder and chief reputation architect of Reputation Architects Inc. ,
Public relations people like to talk about anticipating or “getting in front of” a crisis; in fact, for a taste of a real-life crisis simulation, check out this stress-inducing story by The New York Times ‘ Sapna Maheshwari. And what can we learn from how Equifax handled the crisis? How did it escalate?
QUESTIONS : Is corporate reputation a focus for your organization in 2020? According to the 2019 DHM Research and ReputationUs study , 93% of consumers say a company’s reputation is important when they choose among products and services of similar quality and price. Identify reputation vulnerabilities and opportunities.
How do we know what to fix in a PR crisis? In previous posts, we’ve shared the basic crisis triangle : Respond with knowledge, speed, and ownership. To develop a more effective crisis communications strategy, we need to understand trust. What constitutes a crisis in each branch of trust, in each of the cores?
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. But we can’t afford to lose reputation – even a shred of reputation.” Lose a shred of reputation for the firm, and I will be ruthless.”. * * *.
The communications team may not be held accountable for contributing to corporate and financial goals, so oftentimes, the department is either held to a lesser standard or operates in a vacuum rather than being seen as a strategic partner. Communications is a major driver of corporate reputation—your biggest brand asset.
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. Adaptive Crisis Response. There are few standards in crisis. Tune in here.
It’s a major mistake to treat issue and crisis as interchangeable terms. Issues can be the warning signs that a crisis is possible. And issue management can be regarded as a powerful tool for crisis prevention. In fact a crisis has been known to be described as an issue that WASN’T managed.
It only takes one crisis to permanently harm your company’s image. Risk and insurance professionals are putting increasingly less emphasis on physical assets, and more focus on intangible risks such as cyber threats, business interruption and reputational risks. Loss of reputation is a big risk for any brand. Bodily injury.
New eLearning courses designed to safeguard reputations, mitigate brand damage and protect an organization’s bottom line. The demand for reputation management and crisis mitigation continues to be high in today’s everchanging and polarizing environment,” said Casey Boggs, CEO of ReputationUs and founder of ReputationU. “In
company leaders report misinformation directly impacting their corporate reputation, with financial consequences following close behind. Their digital reputation management team uses AI-powered monitoring to detect emerging narratives, allowing them to address concerns within hours rather than days.
In many cases a board’s lack of diligence contributed in part to its company’s loss of reputation. If you are on a board, you may believe the primary responsibility for safeguarding your company’s reputation lies with your management. So which committee oversees reputation management? Board’s Responsibility. This is changing.
Sponsored by Pinnacle Financial Partners. Casey Boggs, President and Chief Reputation Officer or ReputationUs, will present on the topic, “Reputation Management and Crisis Mitigation for Nonprofits.” ” Casey Boggs Presents on Reputation Management and Crisis Mitigation.
Communication is crucial throughout any crisis – including data breaches. Target, Home Depot and a dozen other companies are just a drop in the bucket, all of whom are likely looking forward to putting this year in the rearview mirror. Many organizations look to their IT departments […].
Today’s crisis ridden world has put most businesses into a tailspin on how to handle the multiple issues (e.g., Some have even experienced a hit to their overall reputations primarily due to the lack of preparation and response to such crises. Reputations are often damaged during and after a crisis hits a company.
Therefore, the reach of an individual’s reputation has reached a level unimaginable to previous generations. It is not uncommon for reputation issues to lurk on the internet indefinitely, to explode virally to an audience of millions, or to carry someone from public support to public criticism within the span of a few hours.
Can't miss out on print coverage if you want to build a high brand reputation and credibility. PR crisis A yoghurt brand issued a product recall. Reputation management Let's say a CEO of your company gives a controversial interview. REQUEST A PRINT MONITORING DEMO What is print media monitoring in 2025? Let's break it down.
At a time when Big Tech’s reputation has plummeted, Facebook is a convenient scapegoat for an entire industry, but many of its problems are of its own making. This time it claimed the job of network chief Les Moonves, costing Moonves his $120 million severance package and the network its reputation. Mnuchin makes the wrong call.
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