When Should Your Fast Growing Company Hire a PR Agency or a Marketing Firm?
With everything happening so fast in your hyper-growth company, when SHOULD you hire a PR agency? We speak to businesses all the time asking us if they’re ready for us and often, the answer is “no, not yet.” So, how do you know if you’re ready for an agency? We specialize in working with organizations with ambitious growth goals, so we’re in a good position to know what works and what doesn’t.
6 Signs Your Ready for a Public Relations or Marketing Agency
You Have A Proven Business Model/Product
It’s easy to think that if you had a PR agency or marketing company running things you’d have those customers you need to prove your product works. But if you haven’t been able to get a grass-roots movement on your product, the question is whether the product is viable and whether more exposure means more users/customers or not. There are simply times when throwing money at an exposure metric just isn’t the right thing at the right time.
Plus, it’s important for you, the founder, to get out there and get feedback on your product. You’ll learn things about your customers and your product that you really need to know. You should have a stable team and at least some certainty that the market wants your product. If you’re unsure, it’s too early for an agency.
It’s A Race To The Best Brand
There are some industries where the biggest distinguishing factor for your product is the brand, the emotional response customers have to your product and style. In these situations where you need scale and fast, having an agency is important because you’ll need consistent execution that also adheres to a strategy. Consistent press coverage is a defining factor for becoming the best-known brand.
You Have A Story To Tell
It’s heartbreakingly true: starting a company is not news. Globally, there are about 11,000 startups per hour every single day. You hear about 1/100,000,000 of them with any regular basis. The ONLY way to cut through the clutter is to have a real story. You something truly compelling, because journalists are soooo tired of hearing about “the <insert adjective> new CEO taking <insert startup community or vertical> by storm.
If you THINK you have a story, but need some help, call us. We offer a consulting strategy service that will help you flesh out your story and we can help you determine if there are any other gems.
You Have The Internal Resources and Assets
This is the moment when you’re probably considering hiring an internal team, but you realize hiring this group of people would require you to take your eye off your core mission.
Internally, you DO need someone who provides your marketing or PR agency with access. It’s this person’s job to interface with questions and changing directions. They need to be both in the C-level loop and empowered to give direction to the agency, which leads me to the next…
You Have A Budget Over And Above The Monthly Retainer
Whatever you’re spending on a Branding, PR or Marketing execution, plan on at least another 30%-40% for activation and assets. In the PR world, you’ll need assets (video, images, studies), events, and press services. In the marketing world, it’s one thing to create the content; it’s another thing to make sure it gets seen.
We provide an audit and a digital strategy program that allows brands to take the roadmap and either implement it for themselves or hire us (or another agency), this plan usually includes competitive analysis, campaign ideas, and best practices for everything from content development to advertising.
Do you Have a Campaign or Project That Needs Person Power
The best time for a PR and Marketing Agency to come on board is when you need a variety of unique skill sets, and you need them fast. Sometimes, you have an idea or campaign that you need help to execute. Hiring an agency to identify opportunities, solutions (and potential pitfalls) is a good idea here because you’ll get that execution boost you need without having to recruit and hire a team. You need a team of specialists, amazing writers, creative graphic designers, analytics interpreters and you don’t need any of them full-time, nor do you have time to manage this in-house team of creatives, but you do need them.