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In the era of social media, one might think that brand promotion is a piece of cake. In reality, many businesses fail to achieve the recognition they deserve and fall into obscurity due to bad advertising tactics and strategies.
If you want to enter the promotion market and help those struggling brands attract more clients, you need to start your own PR service. You can go small as a sole proprietor or a limited liability company, or you can go all out and form a corporation. In this article, we are going to focus on the lesser options and find out how your business would benefit from an LLC model. Let’s get started!
What is an LLC?
Starting an LLC in New Mexico provides a number of benefits to its owner. Its main strength lies in the name, providing businessmen with limited liability and separating their assets from the company. This makes LLCs similar to corporations, but they are significantly easier to create and manage, making limited liability companies closer to sole proprietorships in this regard.
How are LLCs taxed?
Taxes in USA is one of the most interesting aspects of forming an LLC. The Internal Revenue Service views LLCs with one owner as sope proprietorships and multiple-owner companies as partnerships. In both cases, all members receive their profit in full and then each of them pays taxes individually. This process is known as pass-through taxation and allows the owners to avoid getting taxed twice.
An LLC in New Mexico can also become a corporation (for the IRS only) which requires paying additional federal taxes but can save some money in the long run. However, it’s not a good choice for small-scale companies that don’t earn a lot of money.
Things We Like about LLCs
If you go with an LLC as the business structure of choice for your branding promotion service, you’ll enjoy quite a few benefits, such as:
- Limited personal liability;
- Easy registration procedure;
- Freedom of location;
- Brand name and customer trust.
Limited Personal Liability
LLCs in New Mexico allow their owners to protect their assets from lawsuits and debt collectors by separating them from the business. PR companies face all kinds of risks that can come from miscalculated advertising campaigns, misbranded products, questionable affiliations, or even a single social media post. Losing property in an overhyped court case is brutal, and the limited liability model is specifically designed to prevent you and your partners from going broke in an instant.
Easy Registration Procedure
An LLC gets another point for being relatively cheap and easy to register. You need to file a formation document called the Articles of Organization with the Secretary of State, choose a registered agent for business correspondence, get a federal tax number (EIN) if you plan to have employees, and then just wait for the approval. Price-wise, you’re looking at the range of $40-500 depending on the state.
There’s an even easier way to start an LLC. You can hire a business formation company and just let it do its magic. For example, services like ZenBusiness or IncFile can help you create an LLC and become your registered agent for a year for less than $100.
Freedom of Location
You don’t have to be physically present in the territory of the state where you’d like to do business. The only requirement is a legit street address for business correspondence, but this problem can be easily solved with a dedicated service (see above).
Brand Name and Customer Trust
Unlike sole proprietorships that are registered under your birth name, LLCs can be legally called whatever you like. Also, the customers tend to trust businesses with formal entity tags a bit more. So, say goodbye to “John Smith Company” and meet “Millenium PR LLC”.
Things We Don’t Like about LLCs
It’s not all sunshine and rainbows for LLC owners who generally suffer from the following inconveniences:
- Management limitations;
- Investment roadblocks;
- Annual reports.
Management Limitations
If you want to add or remove a member from the company, you’re in for a bureaucratic adventure. At the very least, you will need to amend the official documents, or in some cases, register an LLC all over again. Furthermore, it’s difficult to pass a part of the ownership to current members similar to corporate stock as limited liability companies have no such thing.
Investment Roadblocks
The inability to buy and sell stock negatively affects investment opportunities meaning that you can’t get funded by people from the outside. If you dream of becoming a global marketing powerhouse and luring big-time investors, you should probably go for the corporation model.
Annual Reports
We hate annual reports as much as the next guy, and most states even charge filing fees for them. We guess it’s a fair price to pay for keeping the good standing with the local authorities because your reputation is all that matters at the end of the day.
Is it necessary to open a separate bank account for an LLC?
A corporate bank account solves a couple of problems. First, it shields the owners’ personal capital from the company’s money. Second, it allows you to manage all incoming payments and pay salaries to each employee including yourself.
Conclusion
The general rule is that if a business involves any risks, you need to have limited personal liability to keep your property intact which is exactly what an LLC does. We’ve seen enough PR campaigns go wrong to realize how potentially dangerous this market is, so an LLC is an obvious choice here.
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When you put together all the components of your brand, you need to make preparations and start taking active, systematic action.
Personal promotion goals and strategy
Set clear and measurable goals that will clearly show that your personal brand is working, that you are moving in the right direction.
Bad goals:
- I will be popular in small circles;
- I will be recognized at conferences;
- I’ll have a lot of followers on Instagram.
Normal goals:
- Increase my Facebook followers to 2,500 and my Instagram followers to 20,000;
- Get at least 10 referrals per month for a consultation or product through personal channels: social media, blogging, speaking engagements.
When you have clear goals, you need to make a clear and step-by-step strategy on how to reach these goals. You can use MindMap, a regular notebook, a task manager.
Nune: Break down your goals into sections with clear indicators to keep track of whether you’re doing everything right.
Communication and messaging.
You need a clear and understandable message in your communications: what and how you want to get across to your audience, what to share, what to accomplish, how to connect with your own goals.
Decide on these points:
What you will be communicating about and what values you will be broadcasting – for example, about your company, the inner kitchen and how the corporate culture helps you stand out with an emphasis on the “company is about people” value.
How personal your communication will be – will you cover certain aspects about family, hobbies, weaknesses.
What channels will you use to communicate with the world and showcase your personal brand – write to the media, blog, speak at conferences, publish blog posts, arrange themed meetings, etc. It’s better to choose 3-5 channels rather than spreading yourself out over 5-10.
Planning .
Without a comprehensive system, a content plan, and clear deadlines, the whole personal brand story can be over in 1-2 months.
Form a big plan for all the work you do to promote your personal brand: when and where to speak, where and what to write, what media to knock on, what to record a video about and when.
Create a unified content plan for your social media and blog posts, and try to maintain a balance between the directions and messages.
To keep a balance in your publications (business, personal, social, interesting, etc.), think about the headings/themes of your content.
Packaging
You’re about to start actively promoting your brand, but this is not a case where the first, second and tenth pancake can be a cakewalk. You need a bright and right start here, because the wrong impression and image will be hard to fix.
Get all your outfits together, find the best prom photo, and you can conquer the world. Joke. Let’s go in order:
Check the relevance and adequacy of all information about you online – old profile, random registration in a Japanese beer-loving community, etc.
Clean up/correct anything that might say negatively about your image, the vibrant brand you already so clearly represent.
Do a quality, studio photo shoot that will match your image, value, image, style.
Note: a professional photo shoot is not always about a strict, business suit and pencil skirt. If you’re organizing youth events or teaching young children how to oil paint, chances are you’ll be presented differently by people. Try to be as natural and smiling as possible – it’s appealing.
Put in all social networks, messengers, mail 1 photo. Use exactly this successful portrait during publications in the media, at friends in blogs. So your avatar will begin to be recognized, read, easily highlighted in the news feed.
Design all the additional elements of your external image and communications (email signatures, business cards, etc.).
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The most interesting moment. Many people start at this stage, and then something goes wrong, and it turns out that you should have done some good preparatory work. But you’re already prepared, so you can move into action.
Types of activity
Departing from the strategy, understand what areas and types of activity are priority, effective, available. One specialist for a personal brand is better suited to live performances, another – live broadcasts (because the geography is wider), a third – the articles in the media and personal blog.
Content, good and different
You prepare a high-quality, author’s content, which helps to achieve the goals, hits the target audience and suits the format of the site. Media articles, blog posts, live broadcasts, videos. We will deal with all this in the next section, but get ready now – we need content, we can’t do without communication.
Speeches
A personal brand is about publicity, even if it’s on Instagram Stories, even if it’s live on national TV, but it’s about publicity. You need to speak in front of people either live or online. Try to attend industry conferences, forums, local meetings, etc. When you speak in front of your own colleagues, competitors and partners, you become an expert in the eyes of other experts, and that’s worth a lot.
Of course, the level and value of those speeches must be worthy. If you do not have such experience yet, start with beginners and students. Practice at live broadcasts and webinars, hold a meeting with students from your own university, etc.
Analytics
Track the results of your activities to determine how and what to do next:
- which publications get reposted, commented on more;
- how the number of followers is changing;
- How often they personally reach out through the site, social media, etc;
- how do they respond to new publication formats;
- what subscribers want, what they are interested in (you can find out through surveys).
You need to collect this data in order to understand whether you have chosen the right vector. Maybe you think your blog articles are phenomenal for their depth and large volume, and 7 out of 10 subscribers read you for short and sparkling stories about your work.
Gradually, you’ll compare these metrics and statistics to your goals and milestones to adjust your entire strategy. Now it’s time to deal with the nuances.
It may seem that you have to go everywhere and make yourself known, and then things will go great. But it’s not that simple, because there are nuances.
Nuance #1: Not everywhere is your target audience.
Nuance #2: not all types of content work the same everywhere.
Nuance #3: creating content is long, expensive and challenging.
That’s why you need to choose the most promising ones that are close to you, your audience, your goal. It is better to first use 2-3 main channels and experiment gradually with others. Below we show you what types of content you can use to promote your personal brand.
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If you want to dig deeper, here’s a selection of books to help you build and promote your personal brand.
Tom Peters, “Turn Yourself into a Brand! 50 Sure Ways to Stop Being Mediocre.”
Unusual narration, lots of advice, stories, and motivation from a consulting expert who has worked with Microsoft, Intel, Coca-Cola, Starbucks.
Hubert K. Rampersad, “Authentic Personal Brand. Sell yourself when no one else is buying.”
A gentle model for building a personal brand by pushing back on your own goals, desires, and values. The authors offer a step-by-step path that will help both top managers and novice professionals in their careers.
Andrey Ryabykh and Veronika Kirillova (Nika Zebra) “Personal brand: creation and promotion.
Book-guide from practitioners from the CIS, which explores what to do and how to create, package and promote a personal brand.
Igor Mann, “Number 1.
A book from one of the most famous experts in marketing on how to become #1 in what you do. Igor Mann shares a whole host of tools and lots of advice, not about the personal brand itself, but about achieving the expertise that is at the heart of the brand.
How to live with it and what to do to promote a personal brand
- Dig deep within yourself and understand what it’s for. What goals you can and should set.
- Assemble your Lego frame, and do not be afraid that at first it will look faintly like a sports car like Ferrari.
- Write down the strategy, milestones, goals, resources, necessary tools and communication channels.
- Create and distribute (!) valuable, useful content. Try to give back more and share sincerely.
- Involve your audience, be open – this will help you get lots of new ideas.
- Be patient. Work systematically, analyze metrics, adjust strategy, experiment and repeat what worked.
- Pump up your personal brand topic through books and related areas. Pump up your skills in terms of content, engagement, and public speaking.
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Employees of companies, specialists
And this is beneficial for the company itself. The same publications on personal profiles of employees are more effective for the brand than their own business pages. Because:
they get 571% more coverage;
they are 24 times more likely to be reposted;
even reposts of publications get 8 times the reach of a company brand page.
For those interested in marketing and sales
Leads generated through employees’ personal channels are 7 times more likely to convert into sales than other channels.
92% of people believe in recommendations from other, specific people (even if they don’t know them personally) than they believe in recommendations from companies/brands.
Companies that prioritize blogging and personal promotion are 13 times more likely to achieve a positive ROI.
To HR managers and those seeking employment
95% of recruiters believe that requirements and competition are on the rise, and those who do personal branding don’t just stand out, but add value to the company.
75% of recruiters look for candidates online, studying their social media. Fun party posts, Instagram itineraries, 250 “today I’m eating…” style posts. – they know everything about you.
Entrepreneurs, Top Managers.
88% of businesspeople believe reputational risk is the No. 1 challenge for them.
41% of entrepreneurs who faced reputational crises and scandals said that it hurt the company’s profits the most.
Most of the big deals are still directly dependent on the top management, the company’s leader and his reputation.
Whatever you do, there is one universal thought. People choose people: who to build a family with, who to buy groceries from, who to trust to clean the car, who to watch on YouTube.
The components of a personal brand
That’s it, you made up your mind, personal brand – must have, let’s go gather subscribers. No, stop! It won’t work that way, and you’ll get tired. There should be an important block about the mission, values, strategy and playing Lego.
Why Lego?!
Your personal brand is a space box, unique, strange, futuristic, but damn unusual. It consists of different components, blocks.
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