Public relations agencies are in the business of communications, yet communicating their own acquisition can be challenging because it is new and unchartered territory. At Gould+Partners, we guide our PR agency clients through every step of the M&A process, including how to communicate effectively with staff and clients during a PR merger to build trust and ensure a smooth transition.
If your PR agency is considering a sale, here are five key principles to guide your messaging, as well as actionable steps for internal and external communications.
5 Communication and Principles for PR Agency Sellers
The key to a successful PR agency sale is to communicate early and often, and focus on consistent, transparent and empathetic messaging that addresses client and staff concerns while highlighting future benefits.
- Be Timely – Communicate early to get ahead of the rumors, and provide regular updates with milestones.
- Be Transparent – Address changes directly, and be clear about what’s happening, even if things are uncertain.
- Be Consistent – Deliver unified messages across all platforms. Use consistent language to build trust.
- Be Empathetic – Acknowledge the emotional impact, listen to concerns, and communicate with care.
- Be Purpose-Driven – Clearly articulate the strategic reason for the sale and the benefits for clients and staff.
Internal Communications
For PR agency employees and staff, proactive communication is vital to address concerns and maintain morale. This approach helps manage the uncertainties and changes accompanying merging, ensuring your workforce remains informed and engaged.
- Address Your Team – Use multiple channels, including newsletters and one-on-ones, to clearly explain the strategic rationale behind the sale and the exciting future vision to create excitement, not fear.
- Empathize & Unify – Directly address how the merger impacts jobs, roles and opportunities, even if details are sparse initially. Ensure leaders, managers and human resources use consistent language and core messages to build trust.
- Create Feedback Loops – Establish channels, such as Q&A sessions, online FAQ and suggestion boxes, to collect and respond to employee feedback quickly, building community and addressing issues head-on.
External Communications
Your external audience includes not only your clients, but also prospective clients and the public at large. Developing a strategy that clearly communicates what the new entity looks like will help them understand who you are and how this change will affect them.
- Contact Clients – Reach out to clients directly by phone, email or whatever format is most appropriate and feasible to inform them of the change before they hear it elsewhere.
- Reassure & Commit – Assure clients of continuity and your ongoing commitment to service and values.
- Utilize the Press & Social Media – Use press releases, your website, social media channels, and emails/newsletters to tell your new story and highlight your enhanced capabilities.
Get Step-by-Step Guidance for PR Agency Sales
One of the most important elements of successfully facilitating a PR agency sale is effective communication. While this may seem relatively basic or obvious, the truth of the matter remains that communication can make or break a merger or acquisition. While successful, transparent communication can create a smooth transition, ineffective communication can lead to disruption, confusion and insecurity that may cause a merger or acquisition to fail.
At Gould+Partners, we specialize exclusively in PR agency mergers and acquisitions, and have experience representing both buyers and sellers, with a proven track record for success. We take a holistic approach to the M&A process, and guide our clients through every step. To learn more about our M&A advisory services, or to schedule a consultation, call (917) 783-4500 or send a message to [email protected].