The past few days have been pretty tumultuous for Silicon Valley. The news of the Silicon Valley Bank (SVB) collapse sent us all into a tizzy—for good reason—as it was the second-largest bank failure in U.S. history, and it is in our own backyard. That said… this isn’t our first rodeo.
We will get through this.
The American economy has seen its fair share of disasters, but it bounces back every single time. Think back throughout history: the great depression, the great recession of 2008, and most recently, the COVID-19 pandemic. No matter how dreary an outlook might be, it is important to remember that, eventually, we will get through this.
As a PR agency, it is important to be well-versed in what is happening in the world so that we are able to best inform our clients. We are industry experts; providing guidance during times of crisis is an essential part of our duties. Agencies in our position need to take the time to read up on the latest news and make sure to do so more frequently during times of crisis. Things can change quickly and it’s crucial that we know the news of the moment.
It’s also important to view the news from the lens of your client. Are they directly affected? Does it make sense to comment or would it be better to sit this one out? While trendjacking can be a great way to gain exposure, it is not always in the best interest of the client.
Finally, offer guidance. As PR experts, we have been through this before and it is essential to provide that reassurance to clients—this might be the first such experience for some of them. The ebbs and flows of the economy are totally normal and keeping that in mind can be very helpful when it seems like the sky is falling all around you. So buckle up for the next couple of weeks, it might be a bumpy ride, but we will make it to the other side. As one of our favorite sayings goes…we’ve got this!