The Asset No Insurance Can Protect

Your bank’s reputation is an asset that no insurance can protect.

Some insurers have come up with limited insurance coverage for some PR issues.  However, as many falsely-accused have said, “Where do I go to get my reputation back?”

What’s your bank’s plan for negative press? How do you respond to a derogatory story or FaceBook post? How do you handle an employee embroiled in an event that reflects poorly on the bank?

I’m currently reading “Glass Jaw” by Eric Dexenhall.  He brings us through events that have happened to companies big and small. It offers advice relevant to the new social media world and the difference between being a “spin doctor” and a crisis manager.

Who in your bank monitors the media? Who watches Facebook and Twitter allowing you to know early on when trouble is brewing? Who in the bank manages the process of working through a crisis? Who do you call when you are in over your head? How do you learn of issues coming at you? How do you monitor how other banks are being impacted by social media postings?

Email me your experiences and what you have learned. I’m interested.