Knight Stivender, partner at MP&F, discusses with Doug Simon the generational transition her agency is going through and the need to “roll with the punches” on the latest PR’s Top Pros Talk video podcast.
“The most important lesson we've learned in our transition is remembering why we bought the company in the first place,” Knight states. “It was a good, strong company, so there should be a long list of things that you don’t need to change.”
Knight emphasizes the significance of strategies to manage uncertainty during such transitions. “Many of our employees, especially our senior staff, have been at MP&F for most, if not all, of their careers. With new owners, there's a risk of assuming the worst. We bought the company for its strong foundation and culture. We're not here to tear it down but to build upon it.”
Simon asks Stivender about navigating from a pure PR firm to an integrated marketing company. “We began expanding into advertising, marketing, data analytics, and paid media about 15 years ago, and more aggressively eight years ago. Our clients appreciated our PR services but valued our account management even more. They saw us as a potential one-stop solution for their advertising and marketing needs.”
Stivender addresses the need to find the right leaders for new sectors. “We've built up leadership in these service lines by pulling in experienced professionals from established agencies. For instance, our executive creative director has 20 years of experience in advertising, helping us steer our creative direction effectively.”
This approach extends to data analytics and digital strategy. “I was a journalist, transitioning from print to digital, which gave me a deep understanding of data and analytics. At MP&F, we now have departments dedicated to these areas, led by experts far more knowledgeable than I am.”
Stivender notes how critical it is to balance service expansion while maintaining core business elements. “We have a partner meeting every Monday to assess our current business, prospects, and whether to hire in anticipation of future needs. Sometimes, waiting for the business to be squared away can be riskier than taking a calculated risk to hire in advance.”
Stivender concludes with the importance of maintaining the essence of an evolving organization and being ready for the inevitable problems. “Our founding partners had a succession plan, but you can’t plan for every contingency. Be prepared to roll with the punches. Things happen that you can’t predict, and you need to be flexible.”
View all of the interviews in the “PR's Top Pros Talk” series. Subscribe to get notified when new episodes are available.
Interested in taking part? Contact Doug Simon at [email protected]
D S Simon Media helps clients get their stories on television through satellite media tours and by producing and distributing content to the media. The company also produces live social media events.
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