How to Navigate the Product Crisis Storm with Social Media Monitoring

Client:

A Major Insurance Firm. A company that provides and sells insurance.

Challenge:

Social media's increased visibility and speed can make or break a company in the midst of a product crisis. Get it right and the organization's reputation and value can be enhanced; get it wrong and serious brand damage can result. However, the product need not turn into a brand crisis. The insurance firm had done many things right in responding to the crisis but the firm failed to get ahead of events.

Solution:

Vee provides social media monitoring (although it's impossible to predict every eventuality) that proactively tracks conversation volume and mentions of the brand, products, and supply chain. This ensures that the Insurance firm's finger is on the pulse and they are the first to know when news related to the brand breaks online. This helps to identify incorrect information, misquotations, and slander before they gather ground, respond to legitimate requests for information, and put into place an invaluable communications protocol for what to do - should things go wrong. This can help marketing & strategy teams to move quickly in the name of reputation management, maintain control over communications, limiting legal risks, and retain customers.

Benefits:

By doing this in real-time, insurance firms would have been able to see the intense negative reaction, gauge the severity of the crisis as it unfolded, tailor their communications, and react appropriately before the situation had escalated further. Vee knows how hard it is to build a brand-but one thing we've learned is that even negative sentiment in the throes of a crisis can be turned into an opportunity to improve your marketing and strategy plans.