Today’s economic climate and growing market competition create major challenges for businesses of any size.  As business pressures mount, it is proven that stronger brands have better success weathering storms.  Being able to differentiate, demonstrate value and cultivate meaningful relationships with customers is critical to long-term success. In other words, “Brands are the express checkout for people living their lives at ever increasing speed,” says Brandweek.

But businesses who work hard to create strong brand value sometimes fall into the trap of thinking the work is done.  Protecting and defending your brand can prove to be just as valuable as building it. “Reputation Management” is a necessary component that must be part of every company’s strategic, long-term plan.

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.”

The formula for potential disaster is simple: Surprise creates uncertainty, uncertainty leads to distrust.  Any sort of distrust in business is a threat to your overall viability. The “crisis” may be an allegation, an accident, a lawsuit, an investigation or a media inquiry.  Companies that are prepared to deal with the unexpected are in a better position to maintain their reputations.  In many cases, preparation and the ability to respond quickly can minimize the depth of a crisis.

Preparation and crisis communication planning involves many aspects.  It should include the development of protocols, procedures and rapid response action steps.  It should address the proper chain of command and identify those who may be designated as spokespeople.  It should define the various target audiences (including your employees) to whom communications would be delivered and the various methods or sources for how it would be delivered.

“A reputation is an incredible asset, one you can’t appreciate until you lose it,” said the former CEO of Waste Management, Steve Miller.  “And when you do, every aspect of business gets harder and more costly.”

-Jim Miller