PR Branding

Why is PR Worth It?

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You don’t need to be an influencer or celebrity to make public relations work for you. Having a good PR team on your side can help a business increase its visibility, brand recognition, and bolster its reputation in the community. These things can eventually translate into more customers and a bigger slice of the proverbial pie.

However, hiring a PR team isn’t free. A PR agency is an investment. Before deciding if hiring a PR firm is the right move for you, consider what makes a PR team an asset. Then ask yourself if a PR team is worth it for your business. Having a clear vision of your short- and long-term objectives and goals will help you understand the desired direction of your business. When looking towards the future, you may be surprised at how much value the right agency can add to your image and your bottom line.

What is PR?

Public relations agencies are businesses that specialize in helping their clients craft and distribute information about their business or industry. However, this information is not distributed in the form of paid ads or commercials. It is essentially “free” media that doesn’t cost a company anything to circulate. Free media can include local news stories, national news stories, newspaper articles, or magazine articles. Stories can also be distributed via the Internet or certain social media outlets. This type of media allows customers to see information or stories about a business without the filter of product sales.

The goal of PR is to put the right message in front of the right people. By generating favorable media coverage, a PR firm can help a client cement their image in the minds of potential customers. A good PR strategy can build brand recognition and customer loyalty, adding value to a client’s business.

Why is PR Worth It?

Numerous factors can make PR worth the price of a good agency. However, what makes a PR firm is worth its weight depends on the client’s needs, goals, and overall objectives. You get from PR what you help put in. Outlining your values ahead of time and communicating your needs with a PR firm helps them understand what you want to get out of the relationship. From there, a PR team can craft a unique strategy that can help you reach your objectives and allow them to target the audience you hope to capture.

An important way that PR can help bolster a client’s business is through brand recognition and credibility. PR professionals understand which media outlets can help build credibility while simultaneously increasing their visibility in the community. A solid PR firm will then be able to pitch story ideas and distribute press releases to the outlets that may help give their client the clout they need.

For good or bad, a strong public relations team can use the power of words to change the hearts and minds of people. Placement of positive stories and positive messages about a client can help build trust and loyalty. When something traumatic or negative happens, a strategic PR firm may also attempt to mitigate potential damage to a brand or turn the incident into a humanizing moment. Crisis management is just as important to a brand as positive story placement. A solid PR firm should have experience with both skills.

Skilled Professionals Who Know the Business

Many businesses handle PR internally. This strategy may work for certain industries. However, if you are considering what makes a PR firm worth hiring, consider the skilled professionals they hire to fill their firms. Many current public relations specialists are former journalists. This is important to note because former journalists have inside information about the business. They tend to have a wealth of contacts in the media industry and know how to get a media outlet’s attention. From drafting compelling press releases that don’t end up in the trash bin, to reaching out to community contacts, they know how to leverage their contacts for the client’s benefit.

News stories come from a variety of different sources. Because of the saturation of information, it’s not enough to simply email a press release or event notice to someone these days. It takes carefully crafted communication, outreach, and tenacity to pitch stories and get them placed in the right outlets at the right times. Good PR professionals are transparent, proactive, and passionate about what they do. They want your continued business and will go the extra mile to make sure that you see the value they add to your business.

How Else Can PR Benefit a Business?

Contrary to popular belief, PR is more than just submitting press releases and sending out event invites. At its core, public relations is about good storytelling. It is about crafting compelling and engaging messages that linger with an audience and spur them into action. A skilled PR firm should have experience handling different tasks as well as monitoring and responding to new and emerging trends within a client’s specific industry. Generally, a solid public relations firm will understand how to handle the following:

  • Crafting press releases
  • Following up with media outlets
  • Writing pitches
  • Speech writing
  • Copywriting
  • Blog writing
  • Event planning
  • Strategic crisis management
  • Market research
  • Community engagement

With these elements in play, a PR firm can contribute to the success of a business by:

  • Increasing credibility
  • Increasing brand recognition
  • Enhancing a business’s public presence
  • Enhancing a business’s online presence
  • Generating positive word of mouth
  • Handling crisis situations
  • Building community and customer relationships

What do these contributions all translate into? For many businesses, they translate into increased growth and sales. New customers are drawn to the business while existing customers develop brand loyalty and keep coming back as repeat customers.

If you are looking to grow your business or remain competitive in a thriving marketplace, you may want to consider the benefits of hiring a PR agency. Spending money on a firm today may add tremendous value to your company tomorrow.

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Why Should Psychedelic Companies Invest in PR Now?

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If the legalization of marijuana in a growing number of states has taught us anything, there will likely be an emerging market for other products like psychedelics, as interest grows in their recreational and medicinal benefits. The stigma around using psychedelics, while still present, is starting to shift. The potentially beneficial and pharmaceutical uses for magic mushrooms and other substances are increasingly evident, and the market will likely follow.

Some estimates indicate that the market for psychedelic drugs could grow into a $6.9 billion industry by the year 2027. As psychedelics continue to gain mainstream acceptance, psychedelic companies are still in their marketing and PR infancy. Getting in on the ground floor means investing in a PR campaign today that could solidify your status as a psychedelic authority and leader in the industry in the future as it grows.

The psychedelic industry is a sophisticated enterprise that still suffers from stereotypes and misinformation. It’s much more than mushrooms, black lights, and velvet posters. A strategic PR campaign can help transform this image. It can also lend credibility to what should be considered the next big untapped drug market brimming with potential. As companies continue to grow and gain access to more capital, the opportunity for an IPO, or initial public offering, emerges. A strategic PR campaign can help push these companies into the big leagues.

Why Do Psychedelic Companies Need to Think About PR Now?

The legalization of marijuana has spurred new ways of thinking about old drugs. Psychedelics are getting a fresh look from both the public and private sectors. Researchers are uncovering promising data about the potential for these drugs to treat mental disorders such as depression, PTSD, and anxiety. With greater mainstream acceptance comes more pressure on government entities to decriminalize psychedelics and cannabis, both on state and federal levels.

The best time for psychedelic companies to capitalize on changing consumer sentiment is right now. Much of the emerging psychedelic industry is still in its infancy. When a substance is still considered illegal in much of the country, a stigma will obviously exist. The status of mushrooms and some psychedelics as Schedule 1 drugs also create major hurdles for companies when it comes to marketing. Changing the tide of both patient and political bias needs to happen now.

A strategic PR campaign can aid psychedelic companies in normalizing the conversation about psychedelics and help establish them as respected industry leaders. Changing the narrative on psychedelics doesn’t happen overnight. It takes a concerted effort to get the attention of policymakers and patients alike. PR professionals are uniquely positioned to help psychedelic companies leverage media coverage for a positive effect.

What is PR?

PR professionals specialize in helping companies get free media placement. Free media is media that does not require the company to pay for its distribution. Examples of this type of media include local news outlets, national news outlets, magazines, newspapers, and websites.

PR agencies tend to employ former journalists who have extensive contacts in the media industry. These professionals also know what it takes to pitch a story and what outlets are looking for in the source material.

What Can PR Do for Companies in the Psychedelic Industry?

The possibilities are almost limitless when it comes to what PR can do for the psychedelic industry. PR is a valuable tool in helping change the narrative about psychedelics. A PR agency can help a business craft a compelling and strategic messaged aimed at consumers or policymakers. The firm can then take that message to media sources for potential coverage. These outlets can distribute the story and help boost a company’s brand recognition within the psychedelic industry. Since this media coverage is not paid for, like commercials and ads, it also helps increase a company’s credibility.

Media coverage can also help shape future policies. It is essential to steer the conversation about psychedelics away from the negative and stigmatic image of drugs and towards more beneficial and informative coverage. Experienced PR agencies are experts at communicating. They understand crisis management and how to take potentially negative information and transform it into teaching moments. Although the conversation about marijuana and psychedelics is evolving, there is still work to be done when it comes to helping the industry shed problematic stereotypes.

It is also crucial to note that while change may seem slow to come, the needle is moving in a more accepting direction. It is easier to establish yourself as a reputable psychedelic company now and get in on the ground floor than it is to claw your way to the top of a crowded marketplace. Getting involved with a PR firm early gives you a head start when it comes to brand recognition, building credibility in the industry, and developing a loyal following and potential customer base. Your company can emerge as an industry leader just as other companies are attempting to jump on the bandwagon. Investing in PR today is investing in the future reputation of your business.

If these factors aren’t enough, consider what else a reputable PR firm can do for you:

  • Craft a brand story
  • Help establish you as a psychedelic industry leader
  • Generate visibility and brand recognition
  • Pitch stories that can help influence the public and policymakers
  • Help change the narrative surrounding psychedelic drugs
  • Target your key audience
  • Build brand loyalty
  • Build community relationships

Good public relations teams don’t sit back and wait for you to have news. They help strategize ways to make news. PR should not be passive. PR should be proactive in any market and help companies make their mark and shape the industry. A company’s needs for positive PR in the psychedelic industry are no different.

Whether you are a public or private psychedelic company, now is the time to start thinking about your image. With the help of an experienced PR team, you have the power to build your brand and mold the future of the psychedelic industry. The psychedelic business could quickly become the next big industry to experience hyper-growth. Getting started with PR early means you will have a strategic advantage over the competitors that wait to enter the market.

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3 Tips for Cannabis Brands to Make News in 2022

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Cannabis PR is changing as fast as the cannabis industry is changing. Our 3 tips for cannabis brands to make news and engage journalists include incorporating larger consumer and cultural trends.

In order to secure earned media today, cannabis brands need to think competitively and creatively. In order to secure press coverage, tomorrow’s biggest cannabis brands need to think about larger cultural trends and what’s affecting society, the industry, and the media all at once. What’s more, out of chaos comes opportunity. Uncertainty makes consumers ask big personal questions – and this can be an opportune time to key into changing priorities. People questioning their priorities in light of the pandemic are a heterogeneous group, they don’t belong to any one demographic or generation.

[4 minute read]

Purpose vs. Activism in Cannabis

For consumers in a state of change, Accenture found that buying motivations have shifted. Trust & Reputation ranked over Ease and Convenience and product Origin. 66% said they now expect brands to take more responsibility in motivating them to live by their values and to make them feel more relevant in the world, according to the same Accenture report.

Cannabis has a long history with activism; it’s part of the culture. As the cannabis industry has grown, so have the causes. As a cannabis PR firm, we will never discourage our clients from activism or supporting causes.

If your customers are within the cannabis industry, you’re a B2B cannabis company, then there are some really interesting and important causes, including sobriety, equity, and racial justice to engage in to support the growth, maturity, and reputation of the cannabis industry. Some activist movements within cannabis have failed to catch fire outside the cannabis industry. While many of these initiatives are extremely worthy, few of them have caught on with the broader consumer base. And that’s OK because there are long-term advantages for the industry, but they may or may not be media-worthy.

However, if you’re looking to secure press with your brand activism, or you’re looking to engage your customer through purpose, then it’s time to think creatively about the campaigns. Look deeply at the activist causes you invest in, because consumers today expect brands to engage based on corporate values, which means the brand has to live it’s purpose, not just promote its purpose.

Cannabis consumers today are hardly a niche. Consumer cannabis brands need to think globally and be able to act consistently in order to activate on purpose. Consider these 3 tips to maximize earned media in 2022.

 

Products vs. Experience

A large post-pandemic trend continues to be consumers, particularly younger consumers, craving experiences over products. Cannabis brands should be looking at newsworthy activations that include experiences. While there are limitations for cannabis brands, this is a time to be creative in the ways you engage the press for launches and activations. Simply launching a cannabis product these days isn’t newsworthy. Attaching a celebrity is less newsworthy today than it was 2 years ago, especially as celebrities launch their own cannabis brands. In order for the press to pick up on it, there needs to be a newsworthy story.

Also, be thinking about what markets have the most journalists and editors. Creating an activation in Kansas might make local news in Kansas, but it’s unlikely to inspire NY or CA journalists. Another option is to do activations within other events, be they cannabis trade shows or cannabis-friendly consumer events or even outstanding activations around big events that get covered in the press. It’s really time to be creative.

 

Collab Outside of Cannabis

How can your brand collab with brands outside of cannabis?

There is still media appetite for interesting collabs. The recent Bic Lighters campaign with Snoop and Martha Stewart was a brilliant example of collaboration outside of cannabis. Extremely well thought out and ongoing, it’s successful because it’s cheeky, memorable, and creative. For most cannabis brands the collaboration could include an experience (like a fashion show) or they can include a purpose (environmental, for example), or they could include a special product.

The key to choosing collabs is to think way in advance and activate in a 360 way – don’t start thinking about a 420 collab in February. Major brands and outlets plan these kinds of activations way in advance, but thinking ahead will generate significant advantages.

 

2022 promises a great deal of exciting cannabis industry products and news, but in order to cut through the noise, cannabis brands need to think about what makes news, what engages journalists, and where they can make an impact on culture.

 

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3 Storytelling Trends for Businesses in 2022

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Today’s brands are looking for ways to differentiate. Brand storytelling trends for businesses and especially emerging industries or hyper-growth brands are an important strategy, especially those in competitive industries. Brand storytelling is an outstanding way to separate from the pack and it’s likely your competition hasn’t even tapped into this data.  Macro-trends for 2022 can provide insight into the brand stories you tell, what purpose to highlight, and even what platforms and channels you advertise on.

Fast-growing companies and industries in their infancy (drones and cannabis, for example) especially need to tap into these trends. Brand storytelling makes all the difference in public perception and brand superiority, especially for early movers who need to expand upon their advantages.

Whenever we’re looking to help our clients differentiate in PR, especially for fast-growing companies, one place we turn is Trend Hunter to see where brand values, initiatives, and ideals fit in with the trends of now. Regardless of pandemic status in 2022, the world is in flux. Where your customers and clients fall on these post-pandemic tensions may be a differentiator or a way to increase loyalty through your brand storytelling.

Now is really the time to think through your brand storytelling strategy for 2022, because effective storytelling is multi-faceted and requires commitment from the inside out.

The Big Box vs Local Trend in Brand Storytelling

One post-pandemic tension Trend Hunter touches on is the new push-pull between Big Box and Local shopping. Big Box includes huge online sites like Amazon, by the way, at least in the mind of the consumer. During the pandemic, many Americans woke up to realize the importance of supporting local restaurants and retail. Meanwhile, thousands upon thousands of small businesses populate Amazon. If you’re in the retail space, be thinking about this tension and how you will incorporate this consumer choice into your brand storytelling. Emerging industries and fast-growing brands seeking VC funding should absolutely tap into this trend, as it’s likely to be a defining trend for some time.

Big Box vs. Local reflects another macro-trend, and that’s a distinct distrust of the 1%, and especially the .05%. The pandemic only highlighted the enormous differences between the haves and the have-nots. While one portion of the U.S. population worried about keeping the heat on and long-term unemployment, another portion of the population was buying second homes, and banking the savings staying at home afforded them, and got on a plane to a remote island vacation at the first opportunity. This has led to a deepening sense of distrust for the super-rich.

Where are your customers on this tension and how can your storytelling reflect their current frame of mind on this issue? If you’re in the travel industry, you probably want to appeal to the portion of the country that’s feeling flush, unless, of course, you’re a discount brand. In either case, a humble origin story could be a well-placed media and advertising strategy.

 

The Robots vs. People Storytelling Trend

This one has been brewing for a while, but it’s really coming to a head as AI becomes more integrated and the country confronts global supply chain issues. This is an interesting trend because there are so many stories to be told on both sides of the equation. Even technology companies can tell stories about people, so now is a great time to think about how the technology trend is affecting your customers and where your brand storytelling can tap into this trend.

A brand storytelling trend for businesses subtrend is  “Made in America” may take on higher importance from a branding perspective. The issue, with the “Made in America” storyline, is authenticity. Most products have at least a component or two imported from elsewhere. Ironically, if you’re a foreign company operating in the U.S. you can incorporate both these trends by highlighting your commitment to people. But if you’re a U.S. brand, this story, tread lightly about how you use this trend in your brand storytelling.

 

How Big Media vs. Creators will Affect Storytelling

This is a trend started by influencers, but today’s influencers, at least the big ones now have agents and are more closely associated with the elite than your neighbor. Naturally, for every rule there are exceptions, but today’s consumer looks at an Instagram influencer with 10 million followers and imagines they live very different lives; there is an aspirational value to that, so by all means, brand accordingly because luxury marketing is still incredibly relevant.

Meanwhile, influencers aren’t the only creators in today’s global marketplace. Illustrators, artists, and writers are all finding places to hone and monetize their craft. For example, Substack made a brilliant play by tapping into BOTH these trends. On one hand, Substack contracted with content creators and creatives who are well-known or famous because of their associations with major brands. For example, journalists who write for huge publishing companies, but have their own following, have found Substack can be a fruitful side hustle (in 2020, the top 12 subscriptions averaged over $160K). Meanwhile, all these famous names exposed readers to fresh voices as well.

You can think about this push-pull as you consider ad buys as well. Are your consumers more responsive on big platforms like Facebook or in the niche communities of TikTok?

 

Monitor these 3 trends and others as you think through your 2022 brand storytelling for businesses. Tapping into the macro trends helps you understand whether you should “zig” or “zag.” Brand storytelling trends for emerging industries or hyper-growth brands requires a particularly deft touch and emotional intelligence. Do your research to be sure you’re using these trends in ways your customers can relate to them.

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How To Choose The Best Cannabis PR Firm For You

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What is a top cannabis firm anyway? How important is it that someone else thinks a PR agency is great? What YOU need to know is if a leading cannabis firm is right for YOU. If you are leading a cannabis business or are trying to grow and develop an existing cannabis brand, one of the most important decisions you’ll need to make is choosing a leading cannabis industry PR firm that understands your business objectives. As the industry explodes and cannabis becomes more accessible in more and more states where it is legal, many cannabis businesses are searching for an agency with whom they can develop a long-term, successful relationship.

To help you make the right choice for your business, we’ve put together a list of qualities you should look for when scouting a PR firm. By following these helpful tips, you’ll be better able to find the best firm for you and your business.

Does The Firm Have Experience In Your Field?

When you are seeking out a top cannabis PR agency, you want one that combines a strong knowledge of the fundamentals with experience in your specific field. A firm that has worked in the cannabis industry is one that understands the challenges your business faces due to the patchwork of state-level laws regulating its production, marketing, and consumption, and one that knows how to appeal to your target audience. The last thing you want is a firm that doesn’t know Facebook’s policy about advertising cannabis on its platform, or has outdated assumptions about the consumers who might be excited about your product.

Does The Agency Maintain Strong Relationships?

It’s important to determine whether the cannabis PR firm knows the major players in the cannabis industry, if it has preexisting relationships with influencers and important publications, and whether it can put you in touch with the consultants and other experts who can help take your cannabis brand to the next level. Having access to a PR team’s vast network of professionals can be incredibly beneficial to your business, so it’s worth asking who they know as well as what they know.

To put it simply, you want a PR firm that is more than just a database — you want a team that has ongoing working relationships with industry insiders and the other cannabis industry personnel who can be your entrée to more opportunities down the road.

Is The Firm The Right Size For Your Business?

You should seek out a cannabis PR firm that compliments the size of your business, one that offers you all the resources you need to flourish but also the personalized attention that your company deserves. If you own a small business, you may not need the resources of a 100-person firm. But you also might require more work than a single freelancer can provide. Finding that balance is critical.

What Is The Staff Like?

Since it’s common to work with one group as you explore PR firms, and another team when you sign with an agency, you should ask questions about the makeup of the team you’ll be working with. Ask each person you’ll be working with about their professional backgrounds and experiences, inquire about their responsibilities as part of the team, and find out why they’re interested in the cannabis field. Lastly, make sure that you have the opportunity to consult with senior-level executives at the firm and confirm that they will be available to provide strategic advice when needed.

Does the Firm Offer Integrated Services?

You should seek out a PR firm that offers an array of services, including earned media (such as press coverage, social media mentions, quote tweets, shares, and reviews) and owned media, also called content development (which encompasses blogs, studies, vlogs, podcasts, and more). You should also ensure that the team has the ability not just to develop content, but to do the hard work that ensures this content is meaningful to your target audience: researching, conducting interviews, and writing in an impactful way.

Does the Firm Work in a Timely and Efficient Manner?

You should also consider whether the firm takes the initiative and puts proactive plans in motion in a timely and efficient manner, rather than waiting around for you to approach them. The last thing you want is a PR team that doesn’t understand your business or your goals, doesn’t regularly strategize to help you accomplish those goals, and makes you reach them yourself.

What is the Turnover Rate for Employees of The Firm? What About Clients?

The average rate of turnover between the agency and their clients will give you an excellent idea of how much other companies trust the agency with their business. How long do their professional relationships usually last? Even if you are only signing a limited contract, would you be able to continue the relationship under a renewed contract? You should also ask what the firm’s employee turnover looks like. Low turnover is always a good sign that the firm is a place where employees enjoy working. Happy employees are better for your business, as they will likely be more invested in your business strategy and in helping you succeed. And less turnover also means that the firm won’t be cycling people in and out of your account — people who may not be familiar with your business and its goals.

What’s The Cost?

Like any businessperson, you’re going to have to settle on a budget, and that budget will influence what services you can afford. It’s important to factor the cost of an effective PR campaign into your budget, as this could make or break your business. You should be upfront about your budget and ask other cannabis businesspeople and peers how much they pay for the services you’re seeking. Being upfront about your budget will ensure that neither your time nor the PR firm’s time is wasted.

Ask For References

You should review what other clients have to say about their experience with the firm. Do they express hostility, indifference, or enthusiasm for the firm? How other clients respond will tell you a lot about what kind of relationships the firm builds with its clients. If your peers don’t get excited about the agency, then it may not be worth your time.

Contact the PR Professionals of Avaans Media

If you are starting a cannabis business or are looking to take your existing business to the next level, contact Avaans Media today. We look forward to discussing your business objectives, introducing you to our team, and determining if we’re the right fit for your needs.

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What Is A Hypergrowth Company?

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If there’s a single buzzword that describes what every entrepreneur and investor is chasing right now, it’s “hyper-growth.” Hypergrowth refers to the exponential expansion that certain businesses experience as they quickly go from non-entity to ubiquity in their field. Think Zoom, Uber, Facebook, and many of the other fastest-growing startups you’ve heard of. But while rapid expansion might not seem like a bad problem to have, if you aren’t prepared for it, your business’s growth could collapse just as quickly.

If your company is seeking a hyper-growth model or otherwise finds itself in a period of massive growth, it is imperative that you have a plan in place to prevent your company’s leadership and workers from getting burned out by the challenges of dealing with rapid expansion. Let’s take a closer look at what a hyper-growth company is, and what you can do to ensure that a period of hyper-growth doesn’t end in an equally steep downturn.

What Does Hypergrowth Look Like?

The term hyper-growth first appeared in the Harvard Business Review in 2008. According to the World Economic Forum, compound annual growth rates (CAGR) above 40% define hyper-growth. Hypergrowth is at least double the rate at which a company’s growth can be considered rapid (20% CAGR), which is itself very fast. To put all those numbers In perspective, most medium-sized companies would be thrilled at sustained 10% growth. Hypergrowth usually occurs after the business’s products and services first become available but before the company has fully developed.

Hypergrowth companies are the envy of the business world. Some examples of well-known hyper-growth companies include Amazon, Facebook, Uber, Stripes, and more recently, Zoom, a company whose hyper-growth was fueled by the COVID-19 pandemic.

Entrepreneurs are constantly trying to start the next big hyper-growth business, and venture capitalists are constantly trying to be the first to identify the next big hyper-growth company (and shove cash into its hands).

Although companies like Facebook, Uber, and Amazon all maintained their growth and did not experience a rapid downturn, they are the exception to the rule. The reason why so many hyper-growth businesses fail is because company leadership failed to properly plan for the many challenges inherent to rapid change and wildly increasing demand.

Challenges of A Hypergrowth Business

Companies that deliberately seek hyper-growth often lose money for years as they rapidly grow, snap up competitors, corner markets, and slash the costs of their products to appeal to consumers. It can sometimes be many years before investors in the business finally see a return on their investment.

For instance, Amazon was unprofitable nearly 20 years before it finally starting turning a profit in the middle of the last decade. Investors take a risk by putting their money in potential hyper-growth businesses, and if they do not remain committed to keeping the business afloat through frequent cash infusion, then collapse could be inevitable.

But while the concept of hyper-growth runs counter to a more traditional model of growth, successful hyper-growth businesses can eventually turn into giant corporations that deliver huge, regular profits to investors.

Unsurprisingly, businesses pursuing hyper-growth face certain unique challenges, including:

  • Too much focus on growth – Although prioritizing growth is one of the hallmarks of a hyper-growth business, a company can fail if leadership gets too focused on scaling the business. By focusing too much on revenue growth, you may neglect problems in areas like IT and operations — the areas that ultimately fuel that growth. As the company grows, more money must be spent updating systems to adapt to the business’s increasing size and workforce. While you are focused on growing revenue, you should also focus on scaling other areas of your business to keep pace. Consider your internal communication with employees and utilize internal and external hyper-growth PR strategies to ensure you’re staying focused on emerging trends that may impact your reputation.
  • Overworking employees – Employees at booming businesses may be expected to work long hours, but there can come a point where those workers get burned out — and even startup culture can’t prevent the exhaustion that working 80+ hour weeks can bring. When some employees put in excessive work hours, that signals to other employees that they should do the same, and it’s at that point that hyper-growth business culture can become toxic and unsustainable. Even though many employees may be eager to work exhausting hours because they believe in the company’s vision and business objectives, overwork leads to mental and physical health issues that could hurt the company more than that hard work helps it.
  • Marketing expenses – The bigger your business gets, the more it will cost to market your business effectively. At some point you may need to reevaluate your marketing solutions and determine if there are any lower-cost options. By maintaining exhaustive and meticulous metrics, you’ll be able to track your profit margins appropriately.

The following tips can help you manage a hyper-growth business in a responsible way and ensure that it successfully overcomes the challenges listed above:

  • Strategize – If you are too focused on growth, you may lose sight of other challenges that may obstruct your business’s path to success. Have a solid growth strategy in place, and consider working with a PR firm to develop a plan that serves your business’s best interests. Select a PR firm that has experience working with clients in your specific field, a vast network of industry influencers and experts, a team of creative content developers who understand your target audience, and access to top-level consultants who can help you safely sustain this period of hypergrowth.
  • Focus on culture – A good company culture is what keeps employees committed to your vision and your company’s growth, and attracts the high-quality candidates you’ll need in order to sustain that growth. Ensure that your employees have a healthy work-life balance, and foster camaraderie and friendship among your workers. As you are developing your company’s culture, remember to provide employees with benefits and perks that they actually want and that actually improve their lives. Beer on tap and arcade games in the lobby may seem cool, but they’re a poor substitute for a company that actually cares about its employees as people and fosters a good work-life balance.
  • Don’t forget about profits – Many companies can successfully burn through cash as they fuel rapid growth, but few can turn endless investor patience into a long-term business model. The end goal should always be sustained profits, not eye-popping revenue fueled by even larger losses. Build loyalty and trust with your investors by laying out a future profit plan.

PR for Fast-Growing Companies

If you have more questions about hyper-growth business strategies, contact our PR professionals at Avaans Media today to discuss your business objectives and get to know our team.

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