From stock markets crashing to natural disasters, internal company blunders to poorly executed marketing campaigns, there are several types of crises a company can face.

According to a PwC survey of 4,500 business leaders, almost 70% of leaders have experienced at least one corporate crisis over the last five years. The average number of crises experienced across business leaders was three.

And, of course, crises come when you least expect it. That’s why it’s imperative to have a crisis management plan in place in advance.

With the right processes and tools available to your team, you can quickly remedy a company crisis. Here’s how:

1. Identify the Problem and Formulate a Plan

When word of a crisis strikes, round up your crisis management team immediately. Work together to identify what the root of the problem is and what caused it.

From here, you’ll need to formulate a plan of action. This plan of action must include:

  • A response to all involved, including company stakeholders and customers
  • Pre-approved messaging, along with any messaging guidelines to follow for future communications
  • A detailed list of available and necessary resources to develop a solution

Work with your crisis management team to then create a step-by-step list of actions that must be taken to remedy the problem.

 

2. Communicate with Stakeholders

While the problem itself can damage a company’s reputation, the company’s response is what will either rectify the situation or hit the nail into the coffin.

The best way to communicate with stakeholders is via a live-streamed or on-demand webcast. This enables your team to speak with a wide group of people — including decision-makers, customers, and those affected — all at once.

Webcasting equipment also allows you to interact with participants through chats, Q&As, and polling features. Such a tool is also scalable for larger events or streams if deemed necessary based on the crisis.

Be sure to also communicate your response via social media, email messages, and direct letters to customers as needed.

 

3. Follow Through and Follow Up

After you’ve ended your webcast with constituents and stakeholders, it’s time to follow through on your promise. Stick to the plan you communicated with customers and show them you are dedicated to following up on your commitment.

And, it’s not enough to just follow through. You have to prove you’ve remedied the crisis.

One excellent way to accomplish this is through a follow-up webcast. Allow participants to ask questions and interact with your webcast to gain their trust back, too.

 

Choose the Right Webcasting Tool for Your Crisis Management Plan

When tackling a crisis, you need equipment and tools you can rely on. GlobalMeet Webcast is the most reliable webcasting platform available with 99.9% system uptime and unparalleled enterprise security. Reach out and get your customized demo today.

 

For more information visit PGi.com.