September 2009
Taking Charge
Every industry has its share of issues – from pending legislation and regulation to reoccurring urban legends – that can affect the public’s perception of your business. And their impact can range from a minor blip in business to triggering major events that cause a mass customer exodus. That’s why you need a strategy in place to proactively identify and manage issues before they get out of hand.
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What's Your Issue?
Your business could have a handful of really big issues on the horizon or a spate of smaller ones that could pop up at any moment. The trick is anticipating what has the potential to become an issue and what will fade. It’s all about knowing the industry landscape, the organization’s stakeholders, and the product or service. Get a gasp on what’s going on with:
- The business overall. Staying current with the changing economy is important, and so is a greater knowledge of the specific industry – including the past events that shaped it. After all, history does repeat itself.
- Government agencies. Legislation and regulation can be powerful things, and you can’t always fight them.
- Stakeholders. Consider the people, organizations and environments your business impacts. Get to know your customers, not only the demographics, but their psychographics as well. And don’t overlook what your competitors are doing.
- The product and/or service. Consider what your product is made of and what issues may arise with its components. Will its contents have an effect on the environment? Do government regulations or litigation play a role in its existence? How is the product made and where is it made? Who provides the product and how is it packaged?
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Keep Current
Most issues tend to have a shelf life, so while you’re keeping a constant eye on current issues, be on the look out for the new kid on the block.
Monitor industry news through trade publications and follow local and national stories. Stay current on technology advancements and innovations. Internal audit practices and legal teams can help you keep up with new government regulations that affect business. Most importantly, utilize your employees, as they are the first line of communication to your customers, and obtain feedback from all stakeholders. Acknowledging the new issues is just as important as managing the old ones. Proactive research is mandatory.
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Managing
Once the issues have been identified, don’t just sit there – manage them! Many companies find it helpful to maintain an issues book, creating a separate chapter for each issue, as well as any research and customizable responses they might need. For each issue, you should have: - The company’s stance. Sometimes companies are legitimately thrown into an issue, while other times they might be dragged in without merit. Knowing and explaining which issues are legitimate and which aren’t will set the stage for how you address each.
- Research. Make sure the data is current and that important stats are readily available
- Line of communication. Create a communication approach that suits the issue’s size and scope. For smaller issues, a customer service phone line may suffice, but the larger ones may call for press conferences, press releases and even entire communication campaigns.
- Statements. Have a simple, customizable statements prepared ahead of time for your various audiences.
- Spokesperson. Make sure the appropriate person, whether it’s the CEO or customer service representative, is well versed on the topic and can deliver the statement best.
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