Sun, 17 April 2022
Do you know how good branding establishes your agency as an authority? As a result, you will grow your agency faster. The fact is, being relatable and establishing yourself as a trusted advisor to prospective clients gains their willingness to let you help them solve their challenges and achieve their goals. Our guest today shares how branding helps establish authority and how she turned her agency from a side hustle to a full-time priority.
Annie Scranton had worked at several media companies when she founded her own PR agency, Pace Public Relations, focused on getting their clients media attention and placement to highlight their work.
After losing her job as a producer at CNBC, Annie sent an email to her network and got an answer asking if she could help get media for a client. It came natural to her. She got that person an interview and knew this was the path for her future career helping actors, CEOs, and authors get access to media.
In this episode, we’ll discuss:
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Turning an Agency From a Side Job to Full-Time Priority
Annie’s PR venture began as a side job that wasn’t really her number one priority at the time. After years of working in several media outlets, she knew many influential producers and reporters. This was her currency to take the business off the ground and allowed her to offer clients access to the media. Nevertheless, she admits she undercharged for many years, a common issue for startups.
This may have slowed her growth a bit, but eventually, Annie's pricing model evolved to monthly retainers. She finally made the decision to focusing on her business full-time once she had enough of a safety net to take the risk. Twelve years later, her monthly retainers are now up to 10K and she has offices around the world.
First Steps to Growing an Agency
Annie was lucky to have a big network of people answering her questions about the first steps she needed to take with her business. Since PR is a service industry, she didn’t have to manufacture a product or answer to investors. Once she made the decision to fully focus on building her agency, she hired a web designer to put together a website, opened a corporate email, and was ready to start growing her business. She quickly learned the importance of hiring a good accountant, since she hadn’t realized how much money she need to put away for taxes. It was a rough reality check.
As soon as she couldn’t handle the amount of work on her own, she started looking for her first employee. She started by delegating the low-level admin work to dedicate more time to getting new business. For this, she decided it would be best to hire and train someone who already had a background in media. Ultimately, overcoming the anxieties that come with being responsible for payroll was one of the best decisions she could make for her business.
The Difference Between Marketing Yourself vs Building Your Brand
Annie is a big believer in the power of building your own brand. In the debate between branding yourself or branding your agency, she thinks we should all do both. However, it is also a matter of your needs and your particular industry. For her business in PR, it really is all about the image she presents of herself as someone that can get you access to the media. Therefore, her branding is about 75% focused on her.
Your prospective clients want to work with you and your team, not your "company". People want to work with people that are relatable and that share their values. It can be aspirational in a way. You want to follow their journey, career path, and success. Remember that this is why it is so important to brand yourself. It attracts people in a way that just branding your business won’t do.
No, Branding Yourself Doesn’t Mean You’ll Do Everything
It’s true that creating a situation where clients strongly identify your agency with your personal image may lead them to expect to work directly with you. However, Annie says it is true to a much lesser extent than people may imagine. At the startup phase, the owner is doing pretty much everything, which is why you should really love what you do. However, if you hire really smart people that you train well then you won’t have to do everything. It’s natural to grow and evolve within your agency to the point of being focused on growth and your vision for the agency.
When it comes to building your brand, Annie recommends posting and interacting on LinkedIn. It’s a very powerful tool if you use it well and it’s where she has gotten tons of new business leads. Building your brand like this is more than just posting about a new client you have. It’s more about taking new stories that people are discussing and writing a related post where you position yourself as a subject matter expert. It’s a good way to be consistent about putting your personal branding and message out there. Similarly, she attends webinars, seminars, and speaking engagements where she talks about personal branding.
Can You Describe What You Do in 20 Seconds?
If you have a business, you will eventually have to learn about personal branding. It will provide you with useful tools to interact with your audience or people in the same industry. You have to learn to draw people in with your elevator pitch. As a rule of thumb, if it takes you longer than 20 seconds to describe who you are and what you do you should really sit down and figure out your elevator pitch.
To put together a successful pitch, make sure to include how you can benefit the other person. No one wants to listen to you ramble on and on about your business, but if you can summarize it in “here’s what I do and here’s how I can help you” then you have their attention. Always think about the ROI for the person you’re talking to.
How NOT to Pitch Your Business
Annie once received a pitch about a Tequila testing for a client that was actually a recovering alcoholic. She wrote back to the person explaining how that pitch was so wrong on so many levels and how it would have taken a quick Google search to find out why. It really discredited that person for her.
You have to know who you’re pitching. It is unbelievable how many times people don’t do their research ahead of time when it’s actually easier thanks to social media nowadays.
Also, remember that it doesn’t always have to be transactional. Think about reaching out to people in the spirit of collaboration to develop a relationship. Maybe email them just to mention you really enjoyed their last article or conference. If you do that, they’ll remember you when your agency can help.
The Beauty of In-Person Collaboration
Annie’s agency has offices all over the world. Why not go virtual when so many people are making this move nowadays? They were virtual for the last two years, obviously, but PR is a collaborative industry and there are ideas that spark in an office that cannot be replicated in a Zoom meeting. “My job is to communicate,” she says, so she really prefers in-person interaction.
This is especially relevant when we consider how difficult hiring and retaining talent has become. Not being able to build a relationship with them makes it all that much harder, so, when possible, she prefers to have the kind of bonding moments that only in-person interaction can provide.
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Direct download: Why_Every_Agency_Needs_a_Solid_Elevator_Pitch_and_Good_Branding.mp3
Category:general -- posted at: 7:00am EST