While there is no blueprint for creating a successful hyper-growth company, many of these businesses share some common qualities that help them stand out in the crowd of tech startups. But first, it’s essential to understand what a hypergrowth business is.

What Is A Hypergrowth Business?

Hypergrowth businesses are businesses that maintain a rapid rate of growth over time. The term “hyper-growth” was first coined in the Harvard Business Review. To be called a “hyper-growth” business, it must have a CAGR (compound annual growth rate) of 40% or more. Businesses with “rapid growth” have a CAGR between 20% and 40%. And businesses with “normal growth” maintain a CAGR below 20%. Hypergrowth usually occurs before a business has fully matured.

Many startup businesses are looking to be the next big hyper-growth company. Amazon, Uber, and Facebook are all excellent examples of hyper-growth companies. However, many hyper-growth companies eventually take a quick downturn and ultimately fail. Many hyper-growth companies fail because they get so focused on growth that they neglect to plan for challenges that the business will most certainly face during its rapid rise, including overworked employees, marketing costs, and a customer-focused culture, and more.

How Hypergrowth Companies Stand Out

Companies like Amazon, Facebook, and Uber all set themselves apart from other hypergrowth companies and continued to maintain a steady growth rate over time. You gain insight into how hypergrowth companies like these stand out from the competition by following these tips.

They Keep Track of Emerging Trends and Offer Customers Real Value

Because the market is constantly in flux and consumers are continuously rethinking their wants and needs, hypergrowth businesses understand that they must keep track of emerging trends. When they see an opportunity, they take it. When they see a gap in the marketplace, they fill it with a product or service that has value for customers. Hypergrowth businesses understand that perceived value is not enough; customers seek products and services that add real value to their lives. Being flexible and focused on the company’s target audience and their changing wants and needs enables hypergrowth businesses to scale rapidly when an opportunity becomes successful.

They Know How To Identify Areas for Growth

Most businesses grow by expanding their current customer base by regularly offering new products and services or by targeting new customers by diversifying the products and services they offer and testing opportunities in new markets. Hypergrowth companies are successful because they know how to identify the most significant opportunities for growth and then strategically pursue that opportunity while keeping an eye on product performance and marketplace trends.

They Hire Focused Leadership

Hypergrowth companies understand the value of competent, focused leadership. Hypergrowth businesses that fail often do so because company leadership got so focused on the company’s rapid growth that they were unable to focus on other challenges that would inevitably arise due to rapid expansion. Successful hypergrowth companies hire leadership that can focus on both scaling the business and scaling other business areas to match the company’s growth.

Successful business leaders do much more than share a vision for the company’s growth. They also move the business forward by spotting emerging trends and constantly adapting to the constantly changing market. While remaining focused on the overall vision, they also focus on executing a business strategy to achieve their business objectives.

They Value Their Employees

Hypergrowth companies value the people who work for them and strive to foster a healthy workplace culture. Overworking employees can quickly cause a business’s culture to become toxic. Hypergrowth businesses provide employees with rewards and benefits that have value. A good work-life balance is far more rewarding and important to the average worker than access to ping pong tables and craft beer on tap. Hypergrowth company leaders understand that their employees are the catalysts for rapid growth and that the company’s culture starts with its workers. Hypergrowth company leaders are intentional about developing a healthy and unique company culture from the outset.

They Turn Their Customers Into Brand Ambassadors

Successful hyper-growth companies turn their customers into ambassadors for their brand. There are few things more powerful for a company than its customers going out into the world and gushing about the company’s product or service. Hypergrowth businesses rely on word of mouth and constantly identify potential brand ambassadors to promote their products and services. In addition to customers, other brand ambassadors might be employees or industry influencers. No matter how they spread the word about your brand, word of mouth is one of the most powerful marketing tools a business can leverage.

They Measure Their Success

Hypergrowth businesses understand that success doesn’t happen due to dumb luck. Successful hyper growth businesses are constantly tracking their successes and failures, gaining insights into what is working and what isn’t by harnessing as much data as they can — the more data, the better.

They Are Flexible and Innovative

Perhaps one of the most important qualities of successful hyper-growth businesses is their flexibility and ability to innovate constantly. In the digital age, the world is changing rapidly every day. Successful hyper-growth companies understand that to achieve success, they must be malleable, constantly reassessing consumers’ wants and needs and new marketplace opportunities. Because consumers today have more choice, successful hyper-growth companies must constantly innovate to stand out above other companies.

Marketing for Hypergrowth

How can you market your company for hyper-growth? Implementing a focused and strategic public relations campaign is one of the best methods for customer-driven companies that are on the brink of or are already experiencing hypergrowth. The keys to successful hyper-growth PR is to reach a broad audience, keep them engaged, and letting your service or product sell itself. Some ways to do this include:

  • Running giveaways and other promotions to attract new customers and keep them engaged
  • Keep your existing customers informed and engaged with your company
  • Show all of your customers that you care, not just through words but through your actions

PR for fast-growing companies can be challenging, and especially for those experiencing hypergrowth. With so many tasks to complete, outsourcing some of these efforts to a company with specific experience with hypergrowth PR is often recommended.

Contact Avaans Media

The foundation of any company is its vision, but a successful hyper-growth company grows due to a solid business strategy that meets its goals. If you have questions about hyper-growth business strategies, the PR team at Avaans Media is here to answer all your questions. Contact us today to discuss your business objectives.

[4 minute read time] Today’s CMOs are constantly scanning the news and social networks for the latest trends and cultural shifts. For emerging brands, cultural trends and shifts couldn’t be more important. But even the savviest of CMOs needs to put these separate trends into a broader cultural context in order to put them to use. Enter TrendHunter, their annual Trend Report is a must-read for PR firms, CMO’s, Product Managers, and Innovators. Guess who else watches these massive cultural trends? The media.

As a PR firm that specializes in emerging brands and emerging industries, we’re extremely fortunate to be working with brands already leading the charge on many of the trends and cultural shifts that the latest TrendHunter report documents in its 200+ pages. A few cultural trends caught our eye and thought they were worth digging into on a deeper level for our community of CMOs and media.

3 Massive Cultural Trends for Emerging Brands

Magic Mushrooms

Over the last 6 years, we’ve noticed an increasing demand for mushroom-based functional foods. The wonders of the mushroom knows no bounds. Nowhere is this more true than in the expansion of psychedelic mushrooms. As researchers fast track the science behind therapeutic benefits of psychedelics, global businesses in Brazil, The British Virgin Islands, and the Netherlands, benefiting from legal loopholes are launching brands and experiences that include psilocybin (the compound that creates psychedelic mushrooms). In the US, like cannabis-based THC, psilocybin remains federally illegal, but the local movement to decriminalize the psychoactive ingredient in mushrooms has already begun in Denver, Oakland, and Santa Cruz (as of this writing). Emerging businesses and innovators see psilocybin following the same path of cannabis, but moving considerably faster towards legalization.

Audio Only

Most marketing executives could not ignore the break-through app of 2020: Clubhouse. Clubhouse may or may not have peaked already, and everyone’s listening to see what’s next. Interestingly, the pandemic surge on ClubHouse came just as marketers were wondering whether podcasts, famously popular with commuters and gym rats would remain relevant. But podcasts survived, and some would say even thrived. Apps like Calm, which uses sound to ease tension also surged during the pandemic. Music lovers know the secret to these apps: listening to sounds has a measurable effect on mood and dopamine regulation. Could it be true? Audio-only meetings are more memorable than video meetings? Twitter is betting on it with it’s pandemic feature: ‘Spaces.’ Emerging from the pandemic, sound will be part of every experiential memory and brands will be looking to research to determine how their sound logos impact people’s moods much the way the we investigate how color impacts mood for graphic logos. We’re launching the ability to LISTEN to our blog posts starting with this very post.

 

Inclusion

Brands Celebrate Inclusivity

Gillette Skinclusive Line

Inclusion is no longer a buzzword, it is now part of our day-to-day awareness.  This year, Gillette Venus’ Skinclusive line launch with a summer line, “My Skin, My Way” on video game Animal Crossing. But inclusive skin is in, and so it differently-abled bodies with this launch. In-game inclusivity is mirroring our greater awareness of how our differences can be beautiful. We’re seeing inclusion happening in apps like Chapters: Interactive Stories, where users can create an avatar that reflects their ethnicity as well. Expect to see this in-game inclusivity mirror: gender inclusion and political points of view as well.

Brand Purpose

Bonus round: brand purpose. From sustainability to social good, TrendHunters covered the trend we’ve been seeing for several years: brand purpose. The best brands in the world are already ahead of the game on this, but it’s also trickling down to emerging industries and smaller brands and that’s because tomorrow’s most influential buyers care very much about where their products come from and what the social, political, and environmental costs of the brand are.

 

All of these trends have massive PR, product, and marketing implications. More and more, our clients are bringing us in at the beginning stages of ideation, to ensure not only do campaigns hit newsworthy notes, they also keep them out of hot water, which is a moving target these days. But our team, hand-picked for emotional intelligence, are here to help you see emerging trends all around.

 

Thanks for joining us today!

Cannabis trust is today’s most valuable currency.

As a country, the U.S. is experiencing what can best be described as the “age of distrust.” While public distrust in institutions has been escalating for at least a decade, according to the annual Edelman Trust Barometer which has tracked trust in media, governments, businesses, and nonprofits since 2000. Social unrest and a global pandemic have escalated this distrust. Never has the public eyed institutions or businesses with such suspicion.

Meanwhile, in our cannabis industry, the vaping crisis of summer 2019 hit our industry below the belt, aided by some bad actors knowingly flooding the illicit market with products that couldn’t meet stringent state testing. That crisis created a crisis of confidence in the overall cannabis industry-leading it into a bleak period which was only partially buoyed by the declaration that dispensaries were considered “essential businesses” during the COVID-19 pandemic, pro-cannabis outcomes in both voting booths and Congress, many thanks to NCIA’s national and local efforts. By supporting NCIA, you’re signaling cannabis industry commitment and that you value growing trust within the industry.

Now, against the national backdrop of distrust and a COVID-19 vaccine that offers a glimmer of hope, it’s time to evaluate ourselves and our industry’s actions. Never has it been more crucial for all brands, but particularly our industry, to lean into actions and communications which consistently and powerfully earn the trust of investors and consumers. As an industry, we’re on an important precipice, what we do next will either ensure our credibility or tarnish it for years to come.

Cannabis consumers (and therefore cannabis investors) are looking at brands in a more holistic manner. Trust will be the single most valuable brand attribute.

Trust is defined on two spectrums: competence and ethics. 

For CEOs, CMO’s, and experts in our industry, the time is now to act and communicate from a place of authentically aligned communications. This alignment will require hyper levels of empathy and a constant pulse on the state of affairs affecting your customers. Consumer behavior is in flux now.

The COVID-19 pandemic has changed consumers and now is the time for brands to align. According to the Edelman Barometer special report, Brands Amidst Crisis:

  • The role of brands in reflecting the consumer’s desire to be viewed as a tastemaker or trendsetter has decreased 9%
  • Up 38% is spending time with family
  • 86% of consumers expect brands to solve both societal and personal problems, including proper treatment of employees and making product in a domestic market
  • The only values more important than trust to consumers are price and quality

Because consumer behavior is in flux, it’s never been more important to ensure internal and external values and communications align. Ironically, ensuring alignment supports the flexibility needed to respond quickly to changing behaviors or unexpected upheaval.

Aligned cannabis communications means we act internally and externally in a consistent and emotionally intelligent manner that earns trust. It’s not just good for our industry, cannabis brand trust has very real bottom-line implications including increased sales, increased investor opportunities, and reduced customer acquisition costs. In fact, according to Edelman Trust Barometer, high trust consumers have 75% more brand loyalty.

Outstanding packaging and even quality products are the minimum expectations for today’s brands. But even those choices come under scrutiny from consumers if they don’t mirror consumer expectations and lifestyle. Therefore, earning trust starts at the very beginning. The earliest choices are powerful signals to consumers about brand values.

It isn’t enough to simply sponsor a campaign or align with a social movement. While those choices can be powerful quivers in your trust arsenal, it feels and sounds hollow when the brand is suddenly thrusting itself into a conversation without looking at itself first. Consumers are increasingly aware of “trust washing.”

92% of employees expect their employer’s CEO to speak up for issues ranging from income inequality to diversity and training for future jobs. An aligned trust-based strategy starts on the inside. Take a solid look at the ethos and ethics within your own company.

What are your company’s values?
What do you stand for?
How do you signal trust internally and how do you reward it?
Does your internal communication stand for your values?

The reason this internal step is critical is no matter what, your brand ethos is distilled into consumer interactions and communication, whether those communications are with dispensary workers or directly to the consumer, the experience will always stay with the brand. Imagine a dispensary worker making recommendations to a new-to-cannabis buyer, naturally, the dispensary worker has an enormous amount of influence on the consumer’s impression of a new brand, and whether the cannabis brand is trusted. And new-to-cannabis buyers are most likely to be loyal to their first brand, assuming the product meets expectations.

Personal experience is the number one way to build trust with consumers. 59% of customers say personal experience matters the most.

What consumer interactions signal trust?
How do you manage poor reviews?
How do you handle customer inquiries?
How does your owned media reflect not only your brand values but those of your customers?

Personal experience is absolutely about product experience and brand interactions. Brand interactions at events will take on more importance in cannabis. Consumers will want to engage experientially with cannabis brands and it won’t be at cannabis events only, consumers will expect to see cannabis brands in all the same places they see alcohol brands, even if sales and sampling aren’t available, which means experiences will need to be multi-sensory and strongly personal. Choose your experiences carefully based on your brand audience and ethos.

Earned media is second only to personal experience incredible trust-building. During the COVID-19 pandemic, trust in publications increased by 7%. Brands should look for opportunities in earned media that reflect their values. Branded content is another area where brands can use the credibility of publications.

Experts are still considered credible sources (52%) and they far surpass celebrities (35%) and influencers (36%). As you consider cannabis brand trust strategies in 2021, take a careful look at who you’re leveraging and what role they play. Choose your cannabis experts carefully and ensure they are fully vetted. NCIA’s Marketing and Advertising Committee is developing an “cannabis experts directory” of carefully vetted industry professionals, this will be a key resource not only to event organizers, but CEOs and CMOs looking for credible, authentic experts.

Our industry has so much to offer consumers, we provide very real opportunities for cannabis consumers to enhance their lives. The cannabis industry has been active on many social justice fronts from the very beginning. We may come from a historical place of rebellion, but often, even that rebellion came from a place of empathy and not just income. Consumers today are responding to companies who double down on trust and an aligned brand value system. There’s every reason to think the cannabis industry can do this better than anyone. Together, let’s lean into our values and seed trust not just in our companies, but in our industry.

*All statistics come from Edelman Trust Barometer 2020, unless otherwise noted. 

 

This piece originally appeared on the National Cannabis Industry Association (NCIA) website.

5 Must-Know GenZ Insights for CMOs and Marketers

[5 minute read]

GenZ vs. Millenials: What Marketers Need to Know

GenZ is coming and CMOs and marketers need insights now. After a decade of news about Millenials, here comes GenZ, they make up 25% percent of the population. GenZ is here and CMOs will need to take notice if they haven’t already. It might be easy for marketers or PR professionals to assume this generation is similar to Millenials, but that’s untrue. GenZ, the oldest of whom are turning 23 in 2021, is a generation with distinct preferences and personas. This is also the most diverse generation ever, almost half of GenZ is BIPOC (Black, Indigenous, People of Color). And marketing and branding experts should know: their projected spending power, according to a late 202o Harris Poll, is $143 billion.

While both generations are purpose-driven and feel misunderstood and unseen by brands, especially BIPOC, women, and LGBTQ+, GenZ believes cancel culture is thier weapon against feeling unseen.  Millenials grew up as digital natives, but GenZ grew up as social media natives. In contrast to the hopefulness of Millenials, GenZ is are more practical and politically polarized, and view social media with skepticism.

 

Our GenZ insights for CMOs and marketers take into account both the data presented our team’s decades-long PR and marketing experience.

GenZ:  Take Us Seriously

Grounded GenZ is taking control of their destiny, they are more likely than the general population to have already bought investments (65% vs. 45%). They feel adulthood has been delayed for them and that mental health is extremely important. They are also incredibly invested in social change and see their response to brands as a way to take back their power. GenZ also enjoys thrift shopping – perhaps because of economic uncertainty, sustainability, or simplicity – they aren’t as moved by flashy streetwear and fashion drops as their predecessors.

 

  • 58% of GenZ women prefer to work in a freelance job or have their own business for flexible hours over working a traditional 9-5 job with a reliable paycheck.
  • GenZ watched their parents “burn themselves out at work” and want to find more balance in their lives said 74% of GenZ women.
  • 70% of GenZ said they have or plan to put more money into savings
  • GenZ pioneered cancel culture (50% say they have personally called out a brand), yet,
  • 73% of GenZ women say “social change does not actually occur on social media-it occurs with action in the real world.”
  • 65% make purchases through a brand’s mobile app
  • 52% say they have prioritized shopping at a small or local business to support them after the COVID outbreak.
  • 3% of Gen Z have or are considering upgrading their car to make themselves feel more safe or comfortable during the pandemic
  •  GenZ is expecting a return to travel, with 32% saying they will increase spending on travel.

GenZ Work & Financial Preferences CMO Insights:
Having experienced recessions and pandemics to say nothing of student loans, GenZ has grown up with uncertainty.


For marketers, this means this generation’s patterns may be harder to track down and be ever-shifting, particularly because they want a more flexible lifestyle. This, of course, may change as GenZ ages, but for now, keep your eyes on the shifting sands of time, because GenZ is flexible, self-reliant, and eager to control their own destinies. 

GenZ Purpose Driven CMO Insights:
Purpose-driven communication to a cancel culture generation is a double-edged sword.

It will be incredibly important for marketers and brands, large and small to understand the GenZ audience because while GenZ knows real change happens in the real world, they revel in making brands feel uncomfortable. This generation also has zero tolerance for racism from brands and society at large.

GenZ Shopping Insights
Shopping to make a statement or to self soothe. 

Perhaps because of their polarized and turbulent upbringing, this generation is longing for simplicity, therefore they’re already nostalgic for childhood brands and why they embrace thrift shopping, despite being native digital shoppers. They’re craving balance, escape, and their own experiences. They see mental health as its own reward, and they’re actively seeking coping mechanisms. Marketers will need to balance escapism with fantasy for this generation because right now, they’re an extremely grounded bunch, even when they escape.

GenZ: Social Media Isn’t an Escape

It’s so easy for marketers to assume the best way to reach GenZ is through social media.  For previous generations, social media represented an escapist world, but not for GenZ.

 

  • 70% of GenZ women say “they are tired of the “Instagram aesthetic” that projects a certain lifestyle.”  BUT GenZ isn’t rejecting influencers entirely,
  • 67% said “influencers are more important for showing brands, than brands themselves.”
  • 70% of Gen Z women say it’s more important for people to “prioritize their mental health over their physical health.”
  • 56% of Gen Z women say, “I believe social media is built to be addicting and I’m working to curb my behavior”
  • At home, they find driving soothing, with 38% claiming serenity through driving (compared with 28% of the population).
  • They also derive a sense of comfort and escape from food, 70% say that “snacking helps me take my mind off the issues of the world (compared to 65% of the general population).
  • 48% of Gen Zs miss being able to listen to music or a podcast on their daily commute (33% total)
  • 60% of Gen Zs plan to spend more or maintain spend on connected fitness equipment in 2021
  • 63% of Gen Zs say they have been buying nostalgic snack brands from childhood during the pandemic (63% Zs, 53% total)

 

GenZ Social Media Marketing Takeaways:
As social media natives, they’ve grown hardened to the communication style of social media.

Social media isn’t so much of an escape for GenZ. GenZ seems to understand life is messy and that garner a sense of authenticity from “reality.” They seem to want brands, influencers, and advertising to represent life’s realities a little more closely. Expect GenZ to view social media the way GenX views email: as a tool. Social media will increasingly be something GenZ seeks to have control over.

This generation absolutely craves escape ,and serenity, they see travel and mental health, and fitness as vital to their well-being.

 

GenZ: Escape CMO Insights:
Realistic and approachable escapes for a practical generation

Expect this generation to seek out authentic and approachable experiences until their finances are more secure. They’ll seek out comfort foods, nostalgia, and friends for comfort. When they’re alone, they’ll listen to music and podcasts and stay connected, but it’s likely that there will be variation in their entertainment choices. This is in part because they view certain activities as relaxing (driving) and others as required (social media and fitness), watch those motivational purposes and pair messaging accordingly. Marketers will also need to be alert and flexible to the on-the-go lifestyle of this generation.

*All statistics referenced here came from The Harris GenZ 100 Poll Round-Up. 

Why Brand Values Matter to Consumers, Now More Than Ever

The proof is in the numbers

It’s more and more competitive to capture consumer attention, that’s why brand values matter to consumers more than ever. It’s getting harder and harder for brands to create positive impressions in the minds of consumers. Negative impressions tend to linger longer in our minds, and unfortunately for brands who try to make a positive impact on the world, there are innumerable examples of companies doing the exact opposite. From wanton environmental degradation and exploiting workers to harvesting users’ personal data without permission and companies bending to the will of authoritarian regimes abroad, we’re awash in stories about bad corporate actors.

 

This is all the more frustrating for companies who are trying to set good examples of what socially and environmentally responsible entrepreneurship looks like. When you’re trying to do the right thing and your message is drowned out by a sea of reckless and irresponsible businesses, it can feel hopeless.

 

Don’t worry, consumers will take note of your brand values efforts

 

However, companies who are truly committed to building a better world can take solace in one powerful fact: Consumers are on their side. As more and more stories about corporations behaving badly surface, consumers are increasingly looking for alternatives. These more environmentally and socially conscious consumers want to know that their purchases are going toward a good cause, and they want to see companies take a stand on social, environmental, and political issues.

 

When you consider the current political and social environment, together with increasing evidence of climate change, this change in consumer preferences becomes even more obvious. People don’t want to contribute to the destruction of our planet, and they want to support companies who are working to disrupt or improve the current status quo. Why wouldn’t they choose to buy from purpose driven-brands?

 

The proof is in the numbers

 

There’s plenty of research to back up these claims. Take this 2018 study from Accenture. They surveyed nearly 30,000 consumers from around the world about their purchasing decisions and the brands they support. Accenture found that 63 percent of the consumers they surveyed preferred to support brands that reflect their values and beliefs.

 

There’s more: Accenture also found:

  • 65 percent of consumers prefer to support companies treat their employees well,
  • 62 percent of those surveyed preferred to buy from companies that try to reduce their use of plastics and want to improve the environment.
  • 62 percent of those surveyed also wanted the brands they support to take a stand on the social, cultural, environmental, and political issues that they care about.

 

Accenture is not alone in their findings. A 2018 study from the research agency Edelman found that 64 percent of consumers will either buy from or boycott a brand based solely on the brand’s stances on social or political issues, which highlights the challenge for brands. This is why a brand-friendly PR firm is so important, we can help you navigate the risks and opportunities that optimize purpose-driven communication. The survey included over 8,000 people in eight different markets worldwide, and the researchers also found that 53 percent of those surveyed believed that brands could do more to inspire social change than governments can. Regardless of whether brands really have that power, consumers increasingly believe that they do and are basing their-decision deciding accordingly.

 

These trends in buying habits are particularly pronounced among one key demographic: Teenagers. A 2018 report from MediaCom found several important statistics related to teenagers’ buying habits and the brands they support. The survey found that 54 percent of teens age 16-19 had deliberately bought or stopped buying from brands because of the brands’ ethics. The research also found that 63 percent of teens are more likely to buy from brands that support causes or charities they believe in. However, skepticism among teens concerning brands is still rampant, as 37 percent of those surveyed were doubtful of brands’ claims regarding the causes they support and 69 percent believe brands overstate their level of support for their chosen causes.

 

Taken together, these data points represent a massive swing in consumer decision-making habits. In the past, many companies stayed away from social or political causes out of fear or because they didn’t want to risk a backlash from consumers. But the data show that if brands take a stand on social issues and can demonstrate their authenticity, consumers will respond positively and adjust their buying habits.

 

We can already see how major organizations are taking this data and incorporating it into their marketing efforts. The shoe company Toms has donated one pair of shoes for every pair sold since its founding 13 years ago, making it an exemplar for other businesses to follow. Additionally, Toms has become a certified B-Corp, meaning they meet strict standards for accountability, transparency, and social and environmental impact. Finally, Toms has also pledged to spend at least one-third of its annual net profits on charitable causes, which is much more than most other corporations can say.

 

So, where does this leave your brand if you’re dedicated to making the world a better place? It’s simple really: You need to get that message out to consumers, and you need to do so in a way that’s genuine. That may be a challenge for some companies and some PR agencies, but not for Avaans PR. Helping purpose-driven brands get their message across is what we do, and we can create a campaign for you that plays to your unique strengths.

 

How Avaans PR Can Help with Brand Values

 

We’ve already helped a number of brands do exactly this. In one case, we worked with a nonprofit organization focused on helping pre-Kindergarten students from economically disadvantaged families become better students. We had to create compelling content aimed at two very different audiences: The families who needed help and state legislators considering funding more early education problems.

 

We kept the design of our content simple, using visuals wherever we could, and maintaining a supportive tone throughout. This encouraged families to share content with one another and avoided coming across as paternalistic or lecturing, which also helped to avoid alienating decision-makers at the state level. And the campaign worked: The state legislature funded the early education problems, and we generated over 401,000 impressions among our targeted audience during the length of our six-month campaign.

 

If your brand is seeking to expand its reach and you’re not sure where to begin, we want to help. You can set up a call with our team by visiting our contact page, or you can find us locally in New York, Los Angeles, San Diego, Denver, Honolulu, and Phoenix. We look forward to hearing from you.

Why do PR? Emerging or growing brands often ask should I hire in-house or use a PR agency?

They’re asking themselves this question against a wild backdrop and volatile marketplace. But even during corrections, thousands of businesses are finding their footing and growing. It truly is the wild, wild, west in right now. The reason executives are asking themselves this question is because regardless of lay-offs and investment size, what both these businesses also have in common are some enormous plans that require PR and marketing.

Many companies have concerns about hiring agencies, they worry about finding the right PR agency, they worry about disclosure to people outside the company; they worry about failure. Those are legitimate concerns, many of those same concerns can be an issue with employees, but with an agency, they can be addressed with strategic questions and planning, and taking a little time to get to know your potential pr agency. And the good news is that the best agencies seem to know one another. If you find a great marketing agency or a great branding agency, chances are, they know a PR firm they like and trust.

In-House PR Advantages

Proximity

If you like having someone to bounce ideas off on a whim, in-house PR teams offer that flexibility more than PR agencies. PR agencies are typically a little more formal about meetings and goal-setting.

Cross-Departmental Integration

As companies and brands grow, it’s often great to have someone in-house who formalizes internal communications and ensures other departments are considering PR implications.

Agency Management

If you’re managing multiple agencies, like a marketing agency and a public relations agency, having an in-house point person is a great advantage. Agencies will often work together, but someone needs to ensure the brand’s objectives are always at the forefront.

But what are the practical business reasons for hiring an agency over an in-house team for brands?

Cost-Effective

A single hire’s salary can cost you more than an agency, and that single hire, because they are human, has limitations. Agencies specialize in providing you with the team of specialists you need when you need them. Add this to the fact that you won’t be paying benefits, payroll taxes, and health insurance, and it adds up to savings for both big brands and startups.

Think about it, in addition to your CMO and/or a Communications Officer, who will each need a manager and team, including a media relations specialist, a content writer, a social media manager, a graphic designer, and a multitude of marketing and listening tools which can all easily add up to $400,000 or more, plus benefits.

Plus, if something dramatic happens, it’s also usually less expensive to separate from an agency. Many PR agencies, including us, have a separation agreement in the contract that spells out the process if something radically changes, so it’s a reasonably straightforward process that brings peace of mind to executives in this volatile time.

The IRS Sees PR Agencies As an Expense

Agencies streamline payroll AND they are also a straight business expense.  Talk to your CPA about what makes the most sense for your business.

PR Agency Superpower: Scaleability

Think of your agency as your expansion team. In addition to receiving top-notch strategy and planning, you’ll also have access to team members who are in the thick of it and can give a point of view from the front lines too. When you have a team of people, it’s easier to tap into insights and trends that you might otherwise miss. But it’s also important to note that when you hire a cannabis PR firm or a cannabis marketing firm you’ll get a team of professionals who can more easily scale up during launches or big campaigns.

Even if you do decide to take certain elements in-house, your agency continues to serve you with perspective and resources that support your in-house team. For example, many brands want a PR expert in-house for a multitude of reasons, especially corporate communications and investor relations. But your PR executive still needs a team to help execute, especially in the area of media relations. Few in-house communications executives are actively pitching and engaging with journalists as often as our team is, our media relations team is a top-notch time saver for in-house PR teams.

Seeing the Forest Through The Trees

It’s easy to lose perspective when there’s a lot going on. An agency can provide additional listening and strategy insights you might not have considered. Having a team that has your back and isn’t bogged down in your office politics can really keep things moving along.

In-house team members tend to be front-line advocates internally. And that’s a really important role, especially if you’re trying to build a culture as many brands are. But those day-to-day tasks, meetings, and internal cajoling tend to make consistent outward-looking perspectives difficult. Use your agency to bring you a consistent overall vision of the marketplace and strategies that will set you apart for the long run. Look for agencies with whom you can have open and collaborative dialogue to get the most out of your agency.

Get to Work Fast!

The right agency can get to work much faster than onboarding an employee.  Agencies have a client on-boarding process that will be systematic and strategic because they want to get to work too. You won’t spend your time showing someone where the coffee maker is, you’ll spend your time reviewing strategy and goals.

Access To The Latest Technology & Tools

You pay a fair share for platforms and services that are critical to your business. So do agencies. We have top-notch monitoring, analytics, and communications platforms – you get access to those without adding those non-critical operating costs to your bottom line.