Josh Elledge is the Founder and Chief Executive Angel at SavingsAngel.com, whose mission is to help families save money and build wealth. He has appeared on radio and TV over 1000 times and has a syndicated news column with 1.5 million readers. As a result of his media experience, he created UpendPR.com where he shares how to use PR to your advantage.
The references in Kirk's intro are:
- Tim Williams: Price Better by 1% and Earn 10% More Profit
- The 1% Windfall by Rafi Mohammed
Podcast: Download
Pricing Opportunity in Your Industry
- What is the most important thing you can share about pricing?
- Just because there is an industry standard in pricing does not mean all customers accept it.
- In the PR industry, small business owners and entrepreneurs are rejecting the standard, saying that it does not work for them.
- That is an indication that there is an opportunity for a new pricing model.
- If your audience is asking for something different, are you willing to look at your products and services to better fit the market?
- At least 2-3 times per day, he hears a PR practitioner complaining about customers asking for guarantees and pushing back on pricing.
- If you hear objections consistently, that is an opportunity.
- If you can create something different that the audience is looking for, you put yourself in the drivers seat.
- What is public relations?
- PR is story telling.
- The advantage of traditional PR is that you are telling the story to large audiences in the media.
- There are still lots of very big audiences in traditional media.
- You can be a giver through PR rather than an advertiser.
- You can focus on serving the audience, who will love you for it.
- Large media includes podcasts, blogs, and social media personalities, not just TV and radio.
- Getting on a popular television show can go two ways:
- Hire a PR firm who will prep you and introduce you for a substantial price.
- Earn your way as a small business by getting in front of smaller audiences first and build your credibility.
- One bad guest can lose 10-30 viewers on a show; the producer cannot risk that outcome.
- If you earn your way onto the popular shows, you will get good at doing it, rather than surviving a crash course.
- Become a subject matter expert and avoid just pitching your product.
- What is the ROI from public relations?
- If you have a vested interest in the profits of your company, you are probably following a Michael Gerber philosophy to grow the business: do not work in the business, work on the business.
- To grow the company, you need to:
- Network with lots of influential people
- Tell your story to large audiences
- Getting a 3rd party validation is more powerful than blasting out an ad.
Know, Like Then Trust
- What is the difference between PR and marketing?
- Marketing and advertising, specifically, give you very high control but very low trust in the minds of the audience.
- PR, publicity, and media placement give you lower control over what you like to say, but you can focus on giving huge value to audiences to gain high trust from them.
- Give away your best stuff.
- Blow the socks off the audience so that they believe you are a genius and they are more interested in learning more about what you have to offer.
- People like doing business with people they know, like and trust.
- Third party credibility increases your value.
- How can you create value for the audience through media?
- If you get in front of a large audience, you will not get booked again if you only talk about the product.
- Mentioning the product or service twice in a typical segment is acceptable; three times is too much.
- If you are providing substantial value, do not get in your own way due to bad delivery.
- Understand that your delivery (your presentation) can make the difference between 100 people coming to your website and 10,000 coming.
- Good on-screen chemistry is invaluable.
- Always have good posture.
- Have a smile on your face, unless the topic is serious.
- Express affinity for the host.
- Do not look at the camera or the producer.
- Do not fidget.
- Do not bring a phone, your pen or change in your pocket.
- Just have a conversation with the talent.
- Use the talent's name from time to time.
- Practice by doing YouTube videos or podcasts.
- Invest time in having good energy on TV.
- By starting small and working your way up, you have the opportunity to get feedback and grow.
Tell Your Story
- Is there a difference between PR for business-to-consumer vs. business-to-business?
- You should target the mediums that your target audience frequents.
- Working with podcasters can yield a huge return on investment because you are in front of a specific audience.
- When talking to a general audience, if Jethro from Beverly Hillbillies can understand it, then you are doing good.
- Focus on the media that your customers consume.
- Entrepreneurs are the best people to communicate their story.
- If you hand it off to someone else, it is going to take a lot of time and money to get them up to speed.
- Every business owner should get better at communications and generating buzz.
- Everyone in an organization should be able to communicate the mission and the founder's story.
- If you can tell your story well, it will keep the cash registers ringing.
- How does your media strategy influence pricing?
- Consumers will form an opinion of you within seconds of landing on your website.
- If you can show logos of media outlets on your page, you can provide an implied endorsement.
- You can double your rates with media endorsements.
- You can do this yourself without hiring a PR firm if you invest in learning it.
- Managing relationships is the most expensive part of a traditional PR agency.
- Once you start making connections and consistently deliver value to the media gatekeepers, you develop friendships.
- What is one of your best stories about creating value for a customer?
- Harry Campbell started a blog and podcast, called the Ride-Share Guide.
- Josh suggested Harry become the de facto expert on all things ride-share.
- Harry is working with many media outlets, and as a result, he does not have to spend a dime on advertising.
- Journalists are looking for subject matter experts who are consistent and reliable.
About Josh Elledge
- Website: upendpr.com
- Twitter: @joshelledge
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