Crises are inevitable. At some point, it will happen – especially within the financial industry.
In fact, research from Risk Based Security revealed that last year alone saw the highest number of data breaches to date. More than seven billion consumer records were exposed from an estimated 5,000 breaches.
A staggering 33 percent increase from the previous year, it’s a safe bet that breaches will continue to rise as fraudsters become increasingly clever.
Add to this the impact from this year’s COVID-19 pandemic, forcing organizations across all industries to reevaluate how they operate as well as reestablish their brands. When a crisis does occur, you must be prepared with a deliberate, strategic plan. But all too often, organizations lack a comprehensive plan and instead react when a crisis erupts.
The time to build your strategy is now.
But where do you start? Following these 7 steps will make crisis communications less stressful, more positive, and minimize the impact for all constituencies.