Podcast Summary
PR and branding: PR shapes and enhances brand reputation, but building a strong brand foundation is essential before engaging a publicist, and PR is about amplifying what's already there, while brand strategy sets the foundation for success.
PR and branding are interconnected, and PR plays a crucial role in shaping and enhancing a brand's reputation. Branding is not just about a logo or products; it's about the perception people have of a business or individual. PR professionals help mold and clarify this perception through various channels. For small businesses or individuals starting out, it's essential to build their own brand foundation first before engaging a publicist. This includes articulating a unique value proposition and identifying the ideal buyer. The average cost for a credible publicist or PR firm ranges from $4,000 to $20,000 a month. PR is more about amplifying what's already there, while brand strategy lays the foundation for success.
PR ROI: Effective PR can lead to significant ROI through building authority, reputation, and reaching larger audiences. Consider hiring the right PR team, focusing on long-term benefits, and creatively repurposing media assets.
PR and marketing come with a cost, but the return on investment (ROI) can be significant if approached strategically. PR is an investment in building authority and reputation, and the assets gained from PR efforts can be repurposed and leveraged to reach a larger audience and generate sales. It's essential to consider the type of PR team you're hiring and their focus area, as well as the range of fees you can expect. While it may be challenging to quantify the ROI of PR, focusing on the long-term benefits and creative repurposing of media assets can lead to a strong return. Additionally, understanding your unique value proposition and identifying your ideal buyer are crucial steps in building a strong personal brand.
Specialization and human element: Specializing in one area can make you the best in your field and open opportunities for growth, while allowing other aspects of who you are to serve as relatable and engaging facets.
Specializing in a particular area can help individuals or businesses become the best in their field and unlock opportunities for growth. This doesn't mean losing the human element or becoming one-dimensional. Instead, it's about attracting the right audience and allowing other aspects of who you are to serve as relatable and engaging facets. The example given was of Amazon, which started by selling books and became the best in the world at it before expanding to sell everything. Similarly, Lady Gaga became known for her singing before branching out into acting, makeup, and other ventures. By focusing on one thing and becoming the absolute best at it, opportunities for growth and diversification open up. So, don't be afraid to specialize and be human at the same time.
Brand Clarity & Value: Focus on providing value to your audience and building a profitable brand by prioritizing impact over vanity metrics and offering high-value courses or coaching programs
Finding brand clarity and focusing on providing value to your audience, rather than chasing after vanity metrics like followers or likes, is key to building a profitable brand. This mindset shift allows you to serve people effectively and make a real impact in the world. Additionally, offering high-value courses or coaching programs can be more profitable than selling low-cost products or books due to the greater transformation they provide. Remember, successful people prioritize helping others and focus on creating impact, rather than worrying about their own popularity or numbers.
Social media monetization, value proposition: Brands value unique content and niche expertise, even for individuals with fewer than 1,000 followers. Understand your value proposition, negotiate effectively, and create opportunities for mutually beneficial partnerships. Brands increase prices for higher sales and brand value.
The number of followers you have doesn't determine your ability to monetize your social media presence. Brands value unique content and niche expertise, and even individuals with fewer than 1,000 followers have landed significant deals. The key is to understand your own value proposition, negotiate effectively, and create opportunities for mutually beneficial partnerships. Brands like Four Seasons and KFC have shown that increasing prices can actually lead to higher sales and increased brand value. Additionally, the content strategy and negotiation skills you possess play a crucial role in securing deals.
Persistence and Curiosity: Staying open-minded, curious, and persistent can lead to valuable collaborations and opportunities, even when they seem unattainable at first.
Persistence and curiosity can lead to valuable opportunities, even when it seems like there's nothing to offer. The speaker, Julie, shared her experience of pitching an idea for a home makeover blog to People Magazine and World Market. At first, they didn't see value in her proposal, but she didn't give up. Instead, she asked herself, "What would they see value in?" and came up with a bigger idea: remodeling an entire home. This led to a collaboration worth over $250,000, featuring on People.com, and creating a system that many others later followed. The story illustrates the importance of staying open-minded, curious, and persistent in identifying and offering value to potential partners. It also highlights the potential for win-win-win collaborations that benefit all parties involved.
Anchor Price: Proposing a high anchor price can increase the likelihood of getting a better deal in negotiations, and focusing on adding more value instead of discounting can create a sense of value without losing revenue.
Setting the right anchor price is crucial in negotiations, whether it's for brand deals or any other type of transaction. The first price you propose serves as a psychological anchor that influences the perceived value of subsequent offers. By proposing a high anchor price, you can increase the likelihood of getting a better deal. Additionally, it's essential to understand that investing in something, even if it's uncomfortable or expensive, can lead to significant returns. The speaker shared her personal experience of investing in a $25,000 mastermind and how it led to $1.3 million in earnings within nine months. Another strategy is to focus on adding more value instead of discounting. By raising the anchor price and offering additional benefits, you can create a sense of value without losing revenue. Ultimately, mindset plays a significant role in achieving success, and adopting the right beliefs and habits can help you become the person who can hold the life you desire.
Going deeper: Exploring new things and delving deeper into your interests can lead to rich and rewarding experiences. Build genuine connections and pursue your passions to make meaningful impacts.
Learning from this conversation with Julie Salman is the importance of going deeper in your interests and pursuits. Julie emphasized the value of exploring new things and encouraged listeners to delve deeper into any topic that piques their curiosity. She also highlighted the significance of building genuine connections and offered an invitation to those interested in working with her to reach out on her website, juliesalman.net. Overall, the conversation underscored the importance of staying curious, making meaningful connections, and pursuing your passions. So, whether you're looking to expand your knowledge, build relationships, or explore new opportunities, remember that taking the time to go deeper can lead to rich and rewarding experiences.