Despite the emphasis corporate execs place on the need for crisis communications (ranking it fourth in terms of importance in communications functions), crisis/issues management isn't receiving one of the highest budget allocations, according to a recent study.
In fact, crisis/issues management ranked 7 out of 10, only followed by government affairs, customer service and communications research as the functions with the greatest budget allocations.
Findings from the Structure Function and Operations segment of the Corporate Communications Benchmark 1997 study also point to the fact that much of the communications that takes place between a company and its constituents during a crisis transpires through the media and, therefore, doesn't require a large outlay of corporate monies.
The study, which was commissioned and funded by Northwestern University's Medill School of Journalism's Integrated Marketing Communications Department, the Opinion Research Corp. and Edelman, indicated that the functions with the greatest budget allocations are:
- Advertising, marketing and promotions;
- Financial communications/investor relations;
- Media relations
- Community relations/philanthropy
- Employee communications; and
- Corporate identity.
(Edelman, 312/240-2685)