Ever wonder why there’s so much bad news out there? Maybe it’s because people find bad news more interesting than good news.
The findings of a study from the National Academy of Sciences, hint that this human bias toward negative news might be a large part of what drives negative news coverage.
This is a critical consideration for pawnbrokers, since our industry is already so frequently misunderstood and often stigmatized.
That’s why we work so hard to not only shine a light on positive news stories but also provide training and resources to those experiencing a crisis.
Communications crises are like housefires–most of us will thankfully, never experience one firsthand. But for those who do, it is a terrifying experience that can have ruinous consequences.
What to do when you’re facing a crisis
If you’re like most pawnbrokers, you’ve not gone through anything like this before, and you probably haven’t given the possibility much thought. However, the fact is that any small business owner can experience a communications crisis, and pawnshops, who often deal in gold, cash, and firearms, are particularly susceptible.
Here are three of the most important things that you need to consider in the unlikely but potentially ruinous instance that you have a communications crisis:
STEP ONE: ASSESS
Take control of the situation as best you are able. When a crisis strikes, take a moment to collect yourself. Emergencies are, by their very definition, a very emotional situation. You will likely be unable to think clearly in the moment. That’s why planning ahead is so critical.
Appoint someone as the point person for communications and make the chain of command known to your entire team. This person may or may not be the individual who will appear on camera if that becomes necessary, more about that in a moment. Their primary role is to make sure that they:
- Gather background facts on the situation and make internal notes of the facts.
- Take over access to the brand’s social media accounts and other channels to stop any automated messages that may have been scheduled.
- Help leadership team make decisions on specific messaging.
STEP TWO: ACT
Issue a hold statement. And nothing more for now.
A hold statement is a lot like what it sounds like it is–it’s a statement that acknowledges what’s going on but does not attempt to explain, apologize, blame, or otherwise provide any details. A hold statement merely states the facts of the situation, being truthful but brief.
When the news is good, it’s a great idea to appear on camera. During a crisis, however, the details really matter and one inadvertent comment or slip could make a bad situation worse. That’s why most organizations have a policy that their communications during the heat of a crisis are shared only in written form.
Remember, there’s a difference between truthfulness and full disclosure. Once you’ve issued a hold statement, you can monitor the social media (hiding negative comments if appropriate) but resist the temptation to focus your energies on constant communication with your audience.
Because now you need to take the third step.
It is better to be slow and accurate than fast and confusing during a crisis.
STEP THREE: LEAN IN
Now, it’s time to lean into your customers, employees, and stakeholders.
First, remind your team of one simple phrase that should’ve been a part of their routine training when they joined the team: “I am not authorized to speak on behalf of my employer.” That’s it. That’s all they’re allowed to say.
Let them know who is authorized to speak on behalf of your brand and how to activate the chain of command. If a reporter asks them seven questions, then they’ll say that phrase seven times.
Pawnbrokers are accustomed to being responsive to their social media followers and others. During a crisis, however, you need to put on your blinders and focus only on making sure that your existing customers understand whether or not they are impacted by the situation and what you plan to do about it. Give yourself permission not to post, knowing that it is better to be slow and accurate than fast and confusing during a crisis.
Hopefully, you’ll be able to avoid a communications crisis in your pawnshop. Should you find yourself in the midst of a media challenge and need help from seasoned communications professionals who work extensively in the pawn industry, please feel free to reach out to us, we’re always happy to help!
