What Is Risk Management? How To Manage Risks & Crises With Media Monitoring

Learn more about crisis management:

Background:
When a crisis happens, every second counts. And, when it comes to a crisis there are two things you can control.

1. One, is how you handle the incident, which can make or break your organization’s image.
2. The other is being proactive with potential risks and ensuring your organization has a plan in place before an incident occurs.

There are many ways each department or team across your organization can be impacted by a crisis, but as a PR professional the stakes are higher. If any team should have a plan in place it should be yours, and media monitoring should be part of your strategy.

What is risk management?
- Helps an organization deal with risks
- Is proactive & preventative
- Keeps watch over vulnerable areas

What is crisis management?
- Helps deal with negative events
- Events can be internal or external
- Events can impact an organization or industry

Why are risk management & crisis management important?
Creating risk and crisis management strategies are important because you don’t want to be completely reactive and start from scratch in the midst of a negative event. Crises are stressful and require timely action, so having a plan in place will give you a starting point for when a negative event happens.
Media monitoring can help with this.

Managing risks & crises with media monitoring in 3 steps
Step 1
- Know where you’re organization is vulnerable
- Assess each department & industry
- Don’t overlook partnerships and industries
- Plan for “what if?”

Step 2
- Compile a list of potential risks
- Brainstorm keywords, phrases, hashtags, & relevant social media handles
- Create saved searches & custom categories

Step 3
- Strategize how your organization will monitor risks
- Create a plan or framework for how your organization will approach a crisis