7 Essential steps for recovering from reputational harm

A company's reputation can be damaged in the blink of an eye in today’s fast-paced digital world. Knowing how to recover from reputational harm is crucial. Whether it's a negative review, a social media mishap, or a major PR crisis, the way you handle the situation can make or break your business.

When dealing with a reputational crisis, time is of the essence. The longer you wait to act, the more damage can be done.

Here are seven essential steps to help you bounce back and protect your brand.

1. Assess the damage and your reputation

The first step is to figure out the extent of the damage. Evaluate the situation by logging the events that led up to the crisis, the reaction from your audience, and the tangible effects on your business. Did you lose customers? Did your social media presence take a hit? Measure this damage in quantifiable terms, including sales lost, negative reviews, and social media engagement drops.

If there are false claims or misinformation spreading about your brand, respond promptly with factual information. If an internal issue caused the crisis, address it immediately.

2. Update the stakeholders

Once you've assessed the damage, it's time to update your key stakeholders. Clear communication is essential for effective reputation management. Inform your investors, partners, employees, and any other relevant parties about what has happened and what steps you're taking to address the issue. Keeping everyone in the loop helps maintain trust and shows you're serious about resolving the crisis. Make sure your updates are transparent and honest, as this will set the stage for rebuilding your reputation.

3. Develop a communications strategy

With your stakeholders informed, the next step is to develop a robust communications strategy. This involves crafting a consistent message across all channels – social media, press releases, emails, and more. Your goal is to convey your commitment to addressing the issue and reassure your audience that you're taking the necessary steps to correct it. A poorly executed communication plan can worsen the situation, so it's crucial to be clear, concise, and genuine.

Sometimes a reputational crisis may require outside expertise. Consider hiring a PR firm or reputation management company that specializes in handling these types of situations to provide an objective perspective.

4. Manage online reputation

Online reputation management is more important than ever. Keep a close eye on online reviews and social media mentions to stay updated on public perception of your brand. Respond promptly and professionally to customer feedback, whether it's positive or negative. By tackling negative reviews directly, you demonstrate that you value customer opinions and are dedicated to continuous improvement.

Negative content about your brand can quickly dominate search engine results. To combat this, create positive content such as blog posts, social media posts, videos, or press releases that highlight the positive aspects. Use search engines to track any new content related to the crisis and take steps to ensure positive content about your brand is prominently displayed.

5. Promote transparency and accountability

Transparency and accountability are key components of effective reputation management. Own up to any mistakes and clearly outline the steps you're taking to rectify them. This not only helps rebuild trust but also demonstrates your commitment to doing better in the future. Share regular updates with your audience and be open about your progress. People appreciate honesty and are more likely to forgive a brand that takes responsibility for its actions.

6. Make a trust-building plan

Rebuilding trust takes time and consistent effort. Develop a plan that focuses on demonstrating your core values and addressing the issues that led to the reputational harm. Engage with your audience by sharing stories and examples that highlight your commitment to improvement. Offer exclusive deals or promotions to win back customers and show that you value their loyalty. Trust is the foundation of any successful business, and a well-thought-out plan can help you restore it.

Consider getting more involved with your community. Support local charities, volunteer time to service projects, or contribute to community endeavors. These actions emphasize your dedication to ethical practices and help restore confidence in your company.

7. Plan your brand’s future

Finally, use this experience as an opportunity to plan your brand's future. Implement new policies and procedures to prevent similar issues from occurring again. Invest in customer service training, improve your social media strategy, and strengthen your online reputation management efforts. By taking proactive steps, you can protect your brand from future reputational harm and position yourself for long-term success.

Stay vigilant and committed

Recovering from reputational harm is no easy task, but with a clear plan and dedicated effort, it is possible. Remember, effective reputation management is an ongoing process that requires vigilance and commitment.

About Snap Finance

Snap Finance harnesses the power of data to empower consumers of all credit types to get what they need. Launched in 2012, Snap’s technology brings together more than a decade of data, machine learning, and nontraditional risk variables to create a proprietary decisioning platform that looks at each customer through a more holistic, human lens. Snap’s flexible lease-to-own and loan solutions are changing the face and pace of consumer retail finance.

For more information, visit snapfinance.com.

Snap-branded product offering includes retail installment contracts and lease-to-own financing. Talk with your local Snap sales representative for more details on which product qualifies at your store location. For more detailed information, please visit snapfinance.com/legal/financing-options.