A new study out this week calculates just how much it will cost BP to get out of deep water — in terms of public opinion. Measuring media value by converting sentiment and exposure, based on online mentions, to an equivalent advertising dollar value, estimates show that BP will have to spend a Billion dollars to counter negative mentions with controlled media placements.
What can marketers take away from this info? BP has demonstrated, in the harshest terms possible, the value of protecting the brand up front and through crisis.
{ 1 comment… read it below or add one }
BP damaged more than its own brand. It also damaged the image of the communities involved and made it harder for them to compete for capital investment. Read about the work being done to help economic development professionals refurbish their community brands.
http://strengtheningbrandamerica.com/blog/?p=343