Posted by Amanda Walsh
There has been a plethora of news here in Spain about the financial problems facing not only the USA, but the whole world. These issues have caused PR professionals in the banking and financial industry to take a different approach to the way they work.
According to an article, "Response Must Travel as Fast as Bad News" on PRWeek.com by Tonya Garcia, "PR pros that work in the financial sector say that more and more, they have to be ready to go early on a Monday morning after such news breaks to stop any rumors or misinformation from taking hold and ruining already fragile Wall Street reputations."
Experts must hit the ground running on Monday morning. "Sundays have become the new Mondays," said CJP Communications partner, Mark Kollar.
Managing word-of-mouth interpretations to news has become a growing challenge for PR experts. Battling the instant dissemination of news via the Internet and mobile services also requires preparation. One of the most important tips PR experts can learn is how to quickly assess bad news. This skill allows experts to formulate a plan to counteract or respond. Not all of the work needs to be reactive however. If the financial industry changes have been monitored for ups and downs, experts have been preparing for the worst for months.
What does this article mean for public relations? Professionals should constantly be monitoring the industries of their clients so that they can prepare them for the worst news in advance. Keeping a finger on the pulse of changes and new discoveries will help everyone read the warning signs for bad news. This will allow for proactive communications instead of crisis control or reactive communications. With early acknowledgment, more time is available to tailor messages and curb rumors.
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