1) Have ready communications that will be sent to all staff and relevant stakeholders - investors, partners, contractors, and vendors - first thing Monday morning.
The message should have the latest information surrounding the situation and how the company plans to move.
The message should be in all forms - written, email, video, audio, and social.
Your tactics will change as news developments and government actions change.
Strategy is paramount.
You must be committed to a strategy that involves communicating to staff and relevant stakeholders at least twice daily and launching a communications situation room that can serve as a one-stop-shop and central hub of information and communications.
2) Contact the staff working for state and national elected officials that represent you.
State Senator.
State Representative.
US Senators. (2)
US Representative.
This will likely be five offices in total.
Inform them of your company, connection to their constituency, and relationship with SVB.
3) Contact local media to cover your industry and business news.
Inform them of your company, connection to their media organization, and relationship with SVB.
Offer to be a source of information and insights - on or off the record, depending on the situation.
The SVB story is already full of FUD - fear, uncertainty, and doubt - and will only intensify.
The Tokoyo market will open in a few hours (8 at this posting), and London financial commentary is joining the fray to shape the story.
Plus, social will be a hornets' nest.
As Howard Lindzon tweeted: "We witnessed the first internet created bank run...yes Silicon Valley Bank left themselves open to be killed ...but the internet finished them off."
Plus, state actors who dislike America and the capitalist West will undoubtedly spread disinformation and bots to amplify contradictory news stories.
The communications environment is one never experienced before - don't fight it; recognize it.
Speak with responsible and leading news outlets to beat back the craziness and FUD.
4) Being in the pros who know crisis communications and government relations.
Communications pros that embrace high-low communications can speak with confidence equally to the Financial Times and San Jose Mercury News. Also,pros that know beat reporters covering the Treasury Department and the Federal Reserve will be worth their weight in gold.
Take full advantage of government relations pros who can understand the multiple government agencies and actors and make calls to the proper elected officials in state capitols and Capitol Hill.
Hopefully, you have taken advantage of joining a trade association or two - if not - join now.
Trade associations are excellent intelligence resources and speak with a unified voice in times of crisis.
If you need help with executive communications and speaking with the press, Caracal is here to help with global street smarts coupled with holistic, high-frequency, and high-low communications. Learn more here.
Enjoy the ride + plan accordingly.
-Marc
ITK Daily is geopolitical business intelligence for senior executives with global ambition.
ITK Daily curates news @ the intersection of globalization, disruption, politics, culture, + sport and provides actionable insights and sharp commentary.
