How they managed that crisis, what they said or didn't say, and what actions they took or did not take as a result of that crisis had a profound impact on their reputation, how they were perceived, and their brand.
In today's 24/7 media news cycle and with instantaneous opinion sharing through social media, word of a crisis can spread faster than electrical current. Also, when you consider that the brands of these entities or individuals are valued in the thousands or millions of dollars, it's easy to see why any negative change in perception about those brands could impact their monetary value.
When someone loses trust in a person or a company, they are less likely to associate positive feelings with that person or company . Clearly that could impact whether someone would want to purchase any products or services from or speak positively about that person or company.
That makes it critically important for companies, organizations, and highly visible people to have a crisis communications strategy that accounts for their key stakeholders and enables them to proactively communicate about the crisis facing them.
Doing so with a sensitivity to those impacted by the crisis and the actions being taken to resolve and learn from the crisis can make all the difference in helping a person, company or organization be seen as credible, compassionate, contrite, and committed to improving in the future.