Brands must create a contingency plan to manage crises better

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 28, 2020, 12:36 PM UTC

Set up a crisis management team to communicate behind-the-scenes information.

This piece highlights the importance of creating a succession-planning program across the business to manage crises and communication amid the pandemic. Developing a contingency plan and establishing a crisis management team can help brands be acquainted with general emergency responses.

While creating a succession plan, companies must identify key roles to manage the crisis teams, organise legal elements, and apply for “key person life insurance”. This will prevent any conflict of ownership and leadership and provide financial security in the event of an unexpected death of a key person.

Having a succession plan allows brands to reassure clients, investors, and stakeholders of the steps being taken to deal with a crisis. Overall creating a succession plan can help companies prepare for any other future emergencies.

Read the original article

[3 minute read]