“Crises are part of life. Everybody has to face them,” said legendary golfer Jack Nicklaus. We will all endure moments of crisis in our personal and professional lives, as individuals and in groups – including firms. In a crisis, needed responses and actions range broadly across different areas and functions within an organization, including communications. While you are trying to solve the problem, many curious people will want to know every possible detail.
Communications professionals often produce their finest work in the most difficult situations, and no crisis management team is complete without them. We reached out to several industry leaders for their advice on how to effectively manage communications in a crisis: Chris Sullivan, President of Craft & Capital; Madison Elkin, VP, Public Relations at FiComm Partners; and Jennifer Connelly, Founder and CEO of JConnelly.
We asked each of them: From a communications perspective, how do you navigate a firm through a crisis?
Their responses are below.
Jennifer Connelly, Founder And CEO, JConnelly
Even the most diligent brands are not immune to unexpected challenges in today’s hyperconnected world. A simple mistake – amplified by the digital echo chamber – can escalate out of control quickly.
Consider that an unintentional employee error publicly exposes a large volume of sensitive client information. The mistake not only threatens compliance with stringent privacy laws, but also erodes trust with clients. Here are some critical steps to consider:
Immediate Transparency. Tackle the breach head-on by communicating directly – and accurately – with affected clients in a manner that resonates with them. If they favor direct calls over emails, honor that preference. Time is essential, so swift, personalized communication is key.
Focused Remediation. Outline the proactive measures taken post-breach. Assure clients that exposed data is being safeguarded, any potential misuse is being monitored, and protective measures, such as identity theft safeguards or credit monitoring, are in place.
Strategic Reinforcement. Use the breach as a catalyst for bolstering internal protocols. A crisis, no matter its magnitude, offers invaluable lessons. Whether it’s ramping up staff training, enhancing cybersecurity defenses, or overhauling data-sharing protocols, no crisis, large or small, should go to waste.
In wealth management, clients’ trust is hard-earned and easily lost. The advisor who candidly addresses an oversight, rectifies it and takes steps to prevent recurrence demonstrates commitment, resilience and loyalty.
Always remember, brand strength is revealed not when everything goes smoothly but how you respond and conduct yourself when the bomb goes off.
Chris Sullivan, President, Craft & Capital
It’s difficult to generalize since every crisis has its unique aspects, but what always holds true is that the best responses are guided by honesty, integrity and as much transparency as our heavily regulated industry allows.
Often, firms make things worse on themselves by compartmentalizing a crisis as it starts to emerge, by which I mean a small group has knowledge of the event or issue and rather than alerting other key stakeholders, such as the communications team, hopes “it will all blow over.” Hope is not a communications strategy, and when word of the crisis eventually makes its way out – as it so often does – valuable time has been wasted and the chances of inaccurate information or uninformed responses being disseminated increase.
Instead, be prepared to act quickly, gather as much information as possible to judge the full extent of the issue, and hold frank discussions internally about the possible fallout and potential solutions. Then it will be possible to align on messaging and enact the proactive and reactive aspects of an effective crisis communications strategy.
Madison Elkin, VP, Public Relations, FiComm Partners
Even with a delicate blend of strategic finesse and genuine empathy, crisis communications can be daunting. While the specific nature of the crisis will dictate what you can share with the people who matter most, the importance of taking a human-first approach will make the difference between success or – more crisis.
In today’s world, how you present yourself during a crisis is crucial to maintaining trust. People are tired of empty words and marketing jargon, preferring authenticity over coded language. Even when full transparency isn’t possible, you want to humanize yourself and your firm with your responses.
Pretend you’re having a conversation with someone. It’s not often that you would shut down and say “no comment” or read from a script. At that point, the person on the receiving end has already lost trust in you. If there’s a particular thing you can’t say, follow that with something you can say that addresses the issue at hand.
While the content of your message is undeniably important, maintaining the right tone is critical to how it’s received. Being flat will have people rolling their eyes and speculating. Being too flippant or humorous can show you don’t care or have something to hide. Showing a glimpse of genuine emotion allows people to connect with you and reinforces trust. By successfully striking a balance, you can not only manage the crisis effectively but also emerge with your reputation and relationships intact.
Janeesa Hollingshead, Contributing Editor at Wealth Solutions Report, can be reached at editor@wealthsolutionsreport.com.
