Podcasts about most pr

Most PR pros have some experience in crisis communications. But that is AFTER the problem occurs. Why not help clients PREVENT the crisis to begin with. Noted crisis prevention expert Jonathan Bernstein offer proven techniques to help minimize crisis events. He is considered one of the top such experts firms need to "have on speed dial" in the event of a crisis. Listen...Learn...Share. Podcast video: https://www.youtube.com/watch?v=nV71euL8Y-c&t=14s --- Send in a voice message: https://anchor.fm/peter-c-woolfolk/message

This week, on the PRmoment Podcast, I’m interviewing Adrian Talbot, global CFO at Hotwire. Most PR agency entrepreneurs I speak to reckon the time they hired an experienced financel director was a critical moment for the growth of their business – so I thought it would be interesting to get an experienced PR agency FD on the show to talk. Adrian has held senior FD posts in various PR firms for the last 15 years, including Hotwire, Instinctif, Bartle Bogle Hegarty and Burson Marsteller. Here is a summary of what we discussed: The most important challenges for a finance director in a consultancy business The difficulties of financial forecasting for a PR firm when clients can give you three months’ notice The difficulties of managing hard-to-predict revenues against a fixed staff cost The difficulty that public relations has in selling an intangible product Why a successful FD must involve themselves in the business – not just be the person who pays the bill Why the FD needs to continually monitor your revenue and staff costs Why Adrian reckons he is in charge of births, marriages and deaths at Hotwire! What do PR firms get wrong in their financial management? Why PR firms should have weekly revenue and pipeline forecast tools How to manage client ove-servicing early Why PR firms need to recognise buy signals and negotiate more strongly The mix of fixed costs and marginal costs that make up a PR firm The cost and profit make-up of most PR firms – people, operating expenses and profit Why the average UK agency profit margin is 13%, against a target of 20% Why the number of freelancers working in PR firms is not dramatically increasing Why freelancers need to be experts within a niche, not generalists Why the definition of a retainer client has changed The challenges of running a PR firm as the company grows Why the key reflection points for agency growth challenges tend to be around 3, 10, 30, 100, and 300 people Why Hotwire is moving to value-based pricing Why clients are not interested in timesheets Why timesheets are now an internal business management tool, not an external pricing mechanisms Why the revenues of PR firms tend to be cyclical How Hotwire has managed to grow its global footprint geographically over the last 10 years How Hotwire’s new(ish) CEO Barbara Bates has had a big impact on Hotwire’s growth in the last two years The difference of being an FD in a public and private owned business Why technology systems are becoming an increasing cost for PR firms Why Adrian has set up the Hotwire band – Borderless Thinkers!

Founder and CEO of EvolveMKD As a business owner, she likes controlling her destiny, who to work with, who to hire, how to invest in the business, and whether to expand. How she fell into a career in public relations, intern boss suggested it. Loves how dynamic working in PR is and how you get to “peek into” and get a behind-the- scenes view of other industries and companies. Likes: You have to continue to learn and grow. You will always be challenged. As technology changes and, how we consume news and media also change, you have to adapt. The importance of balancing the needs of your organization, your clients, and the media. Advice: Early in your career, recommend people get well-rounded, diverse experience, rather than immediately get pigeon-holed (e.g., digital, media, writing press releases, handling budget, developing strategy, etc.). Courses recommended: Take writing classes (e.g., business writing), “If your best-foot- forward includes typos, that’s not good enough.” Accounting (get comfortable with numbers), financials, “You have to have an understanding and appreciation for math.” Frustrations in the PR field: Lack of education among potential clients, who don’t know what PR is now (it’s changed: digital), working with clients to broaden their understanding of what PR encompasses; PR can be used for evil as well as good (current politics); Strong PR people are a voice of reason. The importance of reputation management: “Our job as communications professionals is to gently remind business leaders that you can say whatever you want, but if you don’t have the proof to back it up, you shouldn’t be saying it.” Our job as communication specialists is to ensure the business folks have thought through what they want to say and how they should act. “Good PR people want their company or client to speak the truth; that’s an important part of the job.” Some clients can be short-sighted. “The energy you put out there, the words you put out there, the actions you put out there carry weight and have business implications.” How she advises business leaders: You can’t just talk the talk, you have to walk the walk. Think about what is behind a clever or fun campaign; what will you need to do to reinforce the campaign’s message. Education about how media relations and social work together. What do your leadership teams look like? Do they reflect the consumers you’re trying to reach? “If you don’t interact with the people you’re trying to sell to, how can you have an effective strategy?” Genius PR move: Alyssa Milano’s support for the #MeToo movement on social media to drive real, meaningful discussion. Dumbest thing you’ve seen in PR: United Airlines’ handling of removal of a passenger from a plane and the communications follow-up. How they could have better handled it. When a company gets it wrong, but handles the aftermath well: Alaska Airlines’ prompt, on-target handling of Randi Zuckerberg’s complaint about sexual harassment by a fellow passenger. They took immediate accountability, were public about it, and resolved the issue in a classy way. Just because you make a mistake, doesn’t mean you’re doomed, but you do have to own the problem and proactively solve it. This keeps a mistake from turning into a huge scandal. Most PR crises start as operational issues that are mishandled. What does the future hold for PR and marketing? PR and social media are so intertwined that they will require integrated communication strategies. Communications must be integral in order to truly have a positive reputation. Must-have tools: Cell phone, laptop, Cision, access to social media platforms (Twitter is a great resource for understanding what stories reporters are working on and for following the news, as well as what competitors are doing), Mophie battery packs to keep mobile devices charged. Social media for research: Twitter, private groups on Facebook to stay engaged with other communications professionals and journalists, as well as Instagram. Helping clients avoid the shiny object syndrome: Everyone wants to be on Snapchat, but just because it’s new doesn’t mean it will fit. Unless you’re trying to reach teens and those in their early 20s, it’s probably not right for you. Snapchat is not the tool to sell anti-aging products. Facebook might not be cool anymore, but it might be right depending on who you’re trying to reach and to what effect. “Having great media relationships isn’t enough to be a great PR person, you also need to understand the consumer your client is trying to reach.” That will identify the appropriate media and engagement activities. Current projects: Had a client (Lia Diagnostics) who won TechCrunch’s Startup Battlefield at Disrupt 2017 in Berlin with the first major update of the pregnancy test since it was created in the 70’s. Also working with Merz USA, another client, on a partnership with Christie Brinkley. Words of wisdom to new college grads: “Be ready to work.” “Roll up your sleeves and get in the trenches.” You grow and learn by having a lot thrown at you. www.evolvemkd.com Instagram Facebook Instagram: @megankcraig Twitter: @mkdrisco Look for her book coming out in Spring 2018!