New study looks at how to manage a reputation-threatening brand crisis
- Published: Thursday, 07 November 2019 10:20
Crisp’s 2019 Crisis Impact Report explores the increasing weaponization of communications on social media, and the damage to brand value it causes in the wake of a crisis. Crisp surveyed 2,000 consumers from the US and UK, about how they expect brands to respond in the wake of a crisis.The report reinforces how important it is for brands to be the first to know and the first to act. And, when they do, it is critical for brands to have the right actionable intelligence given the increasing amount of misinformation and disinformation on the wider web.
With more than half of consumers (54 percent) reporting they use social media more than six times a day, information (whether real or fake) can spread in an instant. This environment has created a breeding ground for ‘bad actors’ to spread misinformation and disinformation about brands, often causing irreversible damage. Unfortunately, brands are often unprepared for the fallout these unprecedented threats pose to their brand value. Crisp’s ‘2019 Crisis Impact Report: How Consumers React To A Brand Crisis’, reveals imperative consumer expectations during a brand crisis against the backdrop of an increasingly weaponized social media landscape.
Key findings from the report include:
- Rapid response is invaluable in a crisis situation: More than half (53 percent) of consumers expect a brand’s response within an hour of a crisis and one in three (34 percent) expect a response within 30 minutes.
- Leadership must connect accurately and authentically to consumers during a crisis: 59 percent of consumers want brand responses to a crisis to come from the CEO.
- An intelligent response is the difference between consumer loyalty and losing revenue: 90 percent of consumers say they are likely to shop with a brand that responds well to a crisis, while 66 percent are unlikely to continue shopping with a brand that responds poorly to a crisis. That means two-thirds of brand revenue is on the line.
Read the report (registration required).