Today, businesses should stay nimble and adaptable as per the changing dynamics of the business world. The business landscape has become unpredictable. Things can transform overnight; a business that was struggling for months can become successful, and a well-established business can lose one’s honour and status overnight. Every active business must stay agile and prepare its team to respond to any critical situations or crises.
What type of crises do modern businesses face?
When we hear the term crisis, we often run our thoughts towards financial crisis, bankruptcy, and so on, but modern businesses also face reputational crises these days. An attack on the status and honour of a well-established business or a new start-up can break the business into bits and pieces. And to retaliate and fight back in these crisis situations, marketers can use martech tools. Let’s understand how.
Role of Martech in crisis management
We are thriving in an evolving digital world where martech now plays a crucial role in crisis management. The advanced tools enable businesses to quickly and effectively communicate with their audience at multiple touchpoints, monitor online sentiment, and maintain their reputation even during a crisis. With a well-developed martech stack, you can approach a crisis situation proactively, offering a controlled response against the traditional methods.
Here is how martech facilitates crisis management:
Real-time monitoring and analysis
Martech tools help in tracking real-time social media conversations, online mentions, and news articles to understand the potential of the crisis and how people are taking it up.
Rapid communication channels
Leveraging the potential of martech tools like email marketing, social media tools, and push notifications, brands can disseminate accurate information to their target audience, customers, and stakeholders.
Targeted messaging
Martech tools help in tailoring messages according to the sentiment of each individual customer. Brands can segment their audiences based on demographics, interests, and preferences to deliver custom messages addressing their concerns.
Website updates and content management
You can utilise martech software tools to update your website with timely information that will help your audience understand the level of crisis and that you are ready to fight back.
Reputation management
Finally, martech tools help in reputation management by proactively publishing relevant content, addressing misinformation, and engaging with critical comments.
Marketing Technology News: MarTech Interview with Linsday Bayuk, Chief Marketing Officer @ Fullstory
Handling crisis management with sentiment analysis and social listening aid
Martech tools, such as sentiment analysis and social listening, are crucial for brands to navigate crises and manage their PR effectively. These tools gather real-time data and provide insights into public perception, allowing them to quickly identify potential issues, understand the sentiment surrounding a crisis, and respond appropriately to minimise the damage to their reputation.
Here is how these tools help marketing leaders deal with the reputational crisis:
Early warning system
Sentiment analysis and social listening tools like Sprout Social, Brandwatch, etc., monitor online conversations across various platforms. These tools can detect early signs of a crisis, such as a sudden spike of negative emotions around a topic related to the brand. Informing about these online sentiments, the tools help you take proactive action to mitigate the damage.
Identify key issues
The social listening tools not only help in signalling brands about any ongoing negative sentiments, but they also help identify the key issues behind them. They dive deep into the sentiments of individuals to pinpoint the exact aspects of the crisis spreading negativity around. They will tell you whether these negative talks are due to a product failure, a spokesperson’s statement, or a decision by the company.
Audience segmentation
The sentiment analytics and social listening tools segregate the target audience and tell you which segments are the most affected by the crisis. With such detailed insights, you can create messages as per the needs and requirements of your audience.
Trend tracking
Finally, social listening tools allow brands to track how the negative crisis is evolving with time, identify escalating points, and also adjust their strategy as per the need.
Back in 2021, a popular beverage brand faced significant backlash from its audience following a viral video depicting unsanitary practices at one of its factories on social media. During the initial slow response, the brand experienced a 30% drop in their sales. But thanks to their crisis management and social media monitoring strategy that included sentiment analysis and real-time audience tracking, allowing the brand to shift the perception of their audience.
Within six months, the positive sentiment increased by 50%, eventually bringing a positive change in sales and revenue.
Modern brands need to be proactive in managing reputational crises. With advanced martech tools with sentiment analysis features and those dedicated to social listening, it has become easier to understand the overall perception of the brand on various digital platforms. Tapping upon the insights, you can always stay on top of what your audience thinks about you and take action before any major crisis hits.
Marketing Technology News: The Martech Trust Crisis: Are Vendors Delivering On Their MarTech Promises?