For our third installment of ConnectChat, our monthly series of live Twitter chats that explore key communications and media topics, we focused on crisis communications.

Nearly every company has had a crisis at one time or another, and social media has added a new dimension to how companies can monitor and, to some extent, control their reputation.

Our featured speaker, Allan Schoenberg, is director of communications at CME Group and an expert on crisis communications. Allan discussed the role of social media in crisis communications and how companies can use social media to respond quickly to developing crises.

Following is a recap of the chat. To view Allan’s bio, click here.

ProfNet: Welcome to #connectchat! I'm Evelyn, your host this afternoon. Thanks to all of you for joining! Today's guest is Allan Schoenberg, director of corporate communications for CME Group. He's based in London and is doing this live from UK! Welcome and thank you for being our guest this afternoon, Allan!

@gnosisarts: Hi. Eric from NYC joining in. Hello, Ev, Sandy, Maria. Welcome, Allan.

@sazzollini: Hi, Eric!

@mmaskaly: Hi, Evelyn and everyone!

ProfNet: Allan is being so gracious, as he's in London right now. How are you, Allan?

Schoenberg: Good to be here. Thanks for the invitation.

ProfNet: You're very welcome! Let's get things started.

@savsimon: Excited to be a part of #connectchat today.

ProfNet: Why don't we start with your background? How did you get started in corporate communications?

Schoenberg: A long time ago – 1990 -- I graduated with a degree in economics. But I had an interest in communications. The key was internships. I had two great PR internships with great mentors and I was hooked.

ProfNet: Tell us about your role at CME Group. How long have you been there, and how did you get to London?

Schoenberg: I’ve been with @CMEGroup almost seven years. This weekend marks week 4 of relocating to London. This is my third role at the exchange. My first was to head up all tech communication; my second was heading up all corporate communications. In my new role, I head up all international corporate communications.

@gnosisarts: Sorry, off the topic, but any relation to the late great German composer, Arnold Schoenberg, Allan?

Schoenberg: Sorry, but no relation. I am a sideline fan of his, of course.

ProfNet: Let's jump right into how to handle a crisis situation. Since we're on Twitter, how can one use it for handling a crisis?

Schoenberg: Twitter has really become a great platform to monitor for a crisis. The real-time aspect is a game changer for PR. It also is a great platform to communicate during a crisis and talk with stakeholders about what's going on.

@sazzollini: Can you elaborate on what tech communications entails?

Schoenberg: So I see an immediate dual role -- monitor and react -- followed by a recovery role by getting back to normal. It's not a one person role, so someone is always monitoring. I'm lucky that @michaelashore, @chrisgrams and @lacyq are on the team and help monitor.

@gnosisarts: What are some definite no-no’s in this monitor-react approach on Twitter?

Schoenberg: Understand as much as you can before you put something out in the public domain.

ProfNet: How do you start creating a crisis management plan?

@wbenter: Late to the chat, but catching up. Beat me to the punch: RT @ProfNet: How do you start creating a crisis management plan?

Schoenberg: Hopefully, one already exists! There are a number of places to address. First, start with a SWOT -- Strengths, Weaknesses, Opportunities, Threats. You will never be able to plan for every crisis, so build relationships across the enterprise: IT, legal, products, etc. But just start. Once you get it moving you will learn, change and evolve -- crisis planning is always in motion. A good person to follow about risk/crisis management is @gtiadvisors.

@fmccaul: Start by identifying all possible crisis scenarios ... Agree on relationships. RT @allanschoenberg You'll never plan for every crisis so build relationships across the enterprise.

ProfNet: So you always have some sort of "generic" plan in place and then work around the specific problem as it arises?

Schoenberg: I don't like "generic," but yes, you have to know what you stand for as an organization an always stand behind it. If you believe in your organization's culture and can communicate, that becomes your "generic" plan.

@jhmcintyre: Right: The plan is a framework. It defines your crisis team (execs, staff, legal/PR counsel), empowers them to convene.

Schoenberg: That's a great way to look at it, yes, and thanks.

@gnosisarts: We ran into a PR crisis last year. Caught me totally off guard. That's when I realized how important a crisis management plan is. What we learned from our PR crisis: Consumers are expecting greater transparency, and lack thereof can of itself make a crisis.

@wbenter: Can you provide us with an example of a crisis you managed and how?

Schoenberg: Lots of examples of risk/crisis management. Let me think about that one.

ProfNet: So let's say you just find out your company is about to get some negative publicity. What's the first thing you do?

Schoenberg: I would suggest you confirm all that you can. Facts are vital and important. Next, get the right spokesperson. Having the right person speak is absolutely critical and can make all the difference. Finally, be consistent, but know that you may have to adapt and change as the story changes. But stay on message.

ProfNet: Are you the main spokesperson, or do you have someone in place just for that reason?

Schoenberg: That always depends on the situation. We have numerous spokespeople, so it depends. Just find the right person.

ProfNet: What are the criteria to be a spokesperson? How do you find "the one"?

Schoenberg: You need to do your internal homework. You should already know who your experts are. But I think subject expertise and ability to communicate need to be your priority.

ProfNet: Does a spokesperson need to prep for tough interview questions? Do you test them before a press conference, for example?

Schoenberg: Great questions. Yes, I believe they do need to be prepared. But caution -- you don't want them to sound rehearsed. Answers need to be "believed," not "acted out." My goal in any prep work is to build themes around what we believe. I don't like the term Q&A -- I prefer Q and discussion or theme. Especially in a crisis, sincerity is critical.

@jhmcintyre: If time permits, role-playing tough questions with the spokesperson is valuable. It helps them internalize key messages and how to bridge.

@divamomrockstar: Yes and yes -- not for memorization of messages, but ease with being able to talk and respond in an un-canned way.

ProfNet: Let's switch gears for a bit. How should one use social media in creating or following through with a crisis management plan?

Schoenberg: I would emphasize the monitoring aspect of Twitter. It's great for that, but can be overwhelming. It's still important. The other part is the communication part. When you have messages, facts, stories, etc., use social media to communicate. Finally, it's social media, so remember to have a plan to take feedback and do something with it.

ProfNet: Would you then say that social media is a must-use in a crisis situation?

Schoenberg: I think today it's a given. You have to, at the very least, monitor social media. You must know what is being said. I'm not saying everyone needs to use it to communicate, but are at a point where you must monitor.

@gnosisarts: Totally agree. Twitter is excellent for monitoring topics, as well as reactions.

ProfNet: How does one decide to use one social platform over another? How do you know which is best for the situation?

Schoenberg: It's always about the audience. Choose the platform that your audience uses. It may be one or several. I believe in the @Forrester POST methodology -- it's always first and foremost about the people. But realize that your audience will decide. If you communicate on Twitter only, it *will* end up on Facebook, LinkedIn, etc.

ProfNet: Just want to take a moment to thank our participants. Please keep sending your questions to @allanschoenberg with our #connectchat hashtag.

ProfNet: How do you create a media strategy?

Schoenberg: There's no one way to create a media strategy. I suggest you prioritize by speed (Reuters, Bloomberg, Dow Jones). or you go after which outlets are most important to you. But a crisis will show if you've done your legwork ahead of time with journalists. These are long-term relationships -- not just when you need them if there's a crisis.

@sazzollini: How do you research where your audience is? What tools do you use?

Schoenberg: Ask your salesforce what they read or what their customers read. That's a great starting point. Your salesforce can be great advocates for this, especially if you show how it will help them.

ProfNet: What are your media policies when dealing with reporters during a crisis?

Schoenberg: It depends on the situation, but we have a number of guiding principles when it comes to disclosure. My suggestion is get to know your legal team very well and talk this out ahead of time.

ProfNet: What should you include in a prepared statement, and is one always necessary?

Schoenberg: I'm not a fan of canned statements. Every crisis is different/unique. You need to be unique in your response.

ProfNet: Do you think a press conference is essential during a crisis? Is that more important for a larger company?

Schoenberg: Define a press conference today. In the traditional sense, no. Webcasts, conference are effective. The key is speed. And today you can't beat Twitter or the news online. Get your story out first.

ProfNet: Good point. It's so true, since there are many ways to get the word out.

Schoenberg: If you need a press conference, then do it later (meaning as soon as you can). It's not a "must do" event anymore.

ProfNet: What's the saying, “Good news travels fast, but bad news travels even faster,” right?

Schoenberg: Yes, that's correct. And now wrong news travels fast, too. We all have stories of reading wrong news on Twitter.

ProfNet: Do you think it's possible for a company to recover and look good again after a crisis?

Schoenberg: Anything is possible, yes. Too many factors to list as to why, but I do believe companies can fully recover.

ProfNet: We have time for one last question. What's your best advice for anyone in the middle of a crisis situation?

Schoenberg: If I had to give one piece of advice, it's this: Stay calm. It's easy to overreact, but others are looking to you to get through it. Be a leader and a voice of reason. That being said, know when you need to kick things into high gear.

ProfNet: Allan, thanks for taking the time to join #connectchat from London. It's been a pleasure! And thanks to ALL our participants!

Schoenberg: Thank you for having me. I'm honored and appreciated the invite to kick off 2011 for you.

ProfNet: Thanks for a great #connectchat! To all our participants, have a good evening, and thank you!

@gnosisarts: Thanks, Allan, for sharing your expertise.

@wbenter: I second that.

@gnosisarts: #Serendipity: Met @allanschoenberg earlier @ #ConnectChat. Now reading about him in @PRSA newspaper on the way home from work.

Schoenberg: Thank you, and glad it was helpful. Also a little ironic that it was the same day my profile was in @PRSA Tactics.

@Aidoh: Really enjoyed #connectchat from Spain! Planning any new editions?

ProfNet: Hola! Glad you enjoyed it! We hold #connectchat on the last Tuesday of each month, so we'll have more details on the next one soon.

Were you able to participate in our ConnectChat with Allan? What did you think? What was the one thing you learned that will change the way you view crisis communications? Please respond below. Responses may be used in a follow-up post.