a16z Podcast: How to Manage a PR Agency

Key takeaways

PR is crucial for startups, especially during early stages, but its value is often subtle and hard to measure.
Building a strong relationship with your PR agency is vital; frequent communication and involvement from the internal team are essential.
Understanding when to engage an agency versus handling PR in-house depends on the stage of your company and the specific communications needs.
Crisis PR should be managed by experienced professionals; don’t put the reputation of your company at risk with untrained handling.
Regular assessments and transparent communication with your agency can lead to better results and alignment with business objectives.

Summary

The Complexity and Value of PR

In this episode of the A6NZ podcast, hosts Shannon Brayton and Margit Wennmachers explore the often mystifying world of public relations (PR) for startups, discussing its complexities and strategic value. They emphasize that PR is not just about getting press coverage; it's about understanding what the company aims to achieve, whether that's funding, user acquisition, or managing a brand's reputation. The conversation addresses the challenges founders face, particularly in early-stage startups where they might be doing multiple jobs, and how hiring an agency can ease pressures when managed effectively.

Navigating Agency Relationships

Brayton and Wennmachers delve into the nuances of establishing and nurturing relationships with PR agencies. They stress the importance of investing in the relationship from both sides and maintaining open communication to effectively leverage the agency's expertise. Founders must also engage actively with the agency to ensure the stories being told resonate and represent the brand authentically.

In-House vs. Agency PR: Finding the Right Balance

The podcast discusses the pros and cons of in-house versus agency PR. They agree agencies can be most advantageous during periods of growth or crisis when specific industry knowledge or manpower is needed. However, they also highlight that internal teams should maintain their own media relationships to stay in touch with the press landscape and remain credible. For efficient PR, the internal team needs to work collaboratively with agencies, sharing insights while agencies handle larger story narratives.

Crisis Management and PR Specialties

Brayton and Wennmachers share insights on crisis management, stressing that founders shouldn't handle PR crises alone unless they have extensive experience. They recommend having agencies with crisis communication expertise to navigate these situations effectively. They also touch upon the myriad specialties within PR, from consumer products to financial communications, noting that different agencies have various strengths and should align with the specific needs of a company.

Best Practices for Engaging with PR Agencies

The conversation wraps up by highlighting best practices for engaging with PR agencies. Regular communication is crucial for success, whether through weekly check-ins or quarterly assessments of performance and strategy. Founders are encouraged to foster strong relationships with PR professionals, ensuring the agency has visibility into the company’s internal dynamics and messaging so that they can better represent the brand in the media.

Show notes

with Shannon (Stubo) Brayton (@sstubo), Margit Wennmachers (@wennmachers), and Sonal Chokshi (@smc90)

One of the company building topics that’s surprisingly mystifying is PR -- and only surprising since so much of the strategy and tactics behind public relations are actually hidden from public view. We've tried demystifying the topic in an ongoing series, covering everything from "the why, how, and when" of PR" and leaders building a personal brand to crisis communications.

But the most frequently asked question startup founders, especially technical ones, have is how to manage a PR agency -- from when to bring one in and the mechanics of onboarding and engaging with them; to key acronyms to know in the process of doing so (what's an AoR? RFP? GA?); to what are the ideal configurations for the who-what-where of in-house vs. agency PR.

So this episode of the a16z Podcast provides perspectives from both sides of the table (in-house vs. agency, big company vs. startup) for what it takes, featuring PR legends and veterans Shannon (Stubo) Brayton, chief marketing officer at LinkedIn (formerly at OpenTable and formerly vice president of corporate communications at eBay) and Margit Wennmachers, operating partner at Andreessen Horowitz who heads up the marketing function (and who co-founded and later sold The Outcast Agency), in conversation with Sonal Chokshi. It's not dictation -- whether from company to agency, or agency to reporter, or PR to internal stakeholders -- there's a lot of strategic thinking involved even with seemingly incidental things. And... it's a leap of faith.

Stay Updated:

Find a16z on YouTube: YouTube

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.