In Times of Crisis, What Matters More – Speed or Quality of Response?
CommPRO Editorial
In Times of Crisis, What Matters More – Speed or Quality of Response - Hot Paper Lantern
In times of crisis, a slow, ineffective response spells disaster for a company’s stock price. But what matters more – speed or quality of response?
Hot Paper Lanternanalyzed how 80 companies communicated during a significant crisis event. The research shows that how and when a company responds to a crisis is directly linked to the performance of its stock price over the short- and long-term.
In a perfect world, a swift and effective crisis response is ideal; however, our data reveals that if companies need to sacrifice one over the other, taking more time to respond with intention takes precedence over a quick, yet insufficient response.
Communications professionals are using this data to assess their company’s level of crisis preparedness and to demonstrate to their leadership the potential financial impact of being unprepared.