HomeRule BreakersPhoebe Yong on Leading in Fintech PR, Building Magnolia Communications, and Finding...

Phoebe Yong on Leading in Fintech PR, Building Magnolia Communications, and Finding Power in Storytelling

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As part of the Morning Lazziness series highlighting empowering women who are making a remarkable impact with their ideas, I had the pleasure of interviewing Phoebe Yong.

Phoebe Yong is the founder and President of Magnolia Communications. Before Magnolia, Phoebe held leadership roles in several companies that were at the forefront of breakthrough technologies.

Phoebe wholeheartedly believes that everyone has a story to tell, and her job was to help tell the story in the most relevant and relatable way, so she founded Magnolia in 2004. Magnolia has since grown to be an award-winning full-service B2B agency, serving clients in financial services, fintech and payments, and technology across North America, as well as global regional offices. 

Through Phoebe’s leadership and guidance, the breadth of Magnolia’s services has expanded, from public relations to external communications, digital marketing and content creation.

Most recently, Phoebe has led personal brand-building programs for CEOs as they lead their companies through reputation management and crisis communications.

Before starting Magnolia, Phoebe worked at Sierra Wireless as global strategic marketing lead for alliances and marketing communications.

Originally from Kota Kinabalu, Malaysia, Phoebe lives in Vancouver, BC with her family. She has a Bachelor of Applied Sciences in Communications, Simon Fraser University, and a Masters in Business Administration, City University of Seattle.

In this interview, she dives into the challenges, wins, and wisdom she’s gained from over a decade of transforming online businesses.

What inspired you to start your own PR agency, and how did you get your first client?

I had recently left a very demanding corporate position, and started a young family. Back then there was no work-from-home model and I would have to commute 1.25 hours each way to work. I wanted to see if I could do my own consulting that would afford me the flexibility to raise my two young ones. Moreso, I wanted to act on my deep passion for becoming an entrepreneur. I wouldn’t call myself a serial entrepreneur, that is way too ambitious, but entrepreneurship felt like my calling. I launched my agency and welcomed my first client, a large fortune 500 company. The introductions were made via a former colleague of mine.

What unique challenges have you faced as a woman entrepreneur in the PR world, and how did you overcome them?

My niche was fintech, technology, and clean tech, so the challenges included being in a room filled with men. My ethnic background (I’m Chinese-origin) also added to the differentiation, which meant I had to regularly prove that I knew what I was talking about. I overcame these hurdles by being the best at what I did. My previous experience in my corporate job and the results I achieved spoke for me. Additionally, the executives that I worked directly under had a great reputation and I could call on them as references.

How do you stay ahead of trends in an industry that’s constantly evolving with media and technology?

I am a news hound. I read or scroll through all sorts of news – sports, business, entertainment, food, culture – every story has an angle that someone is trying to tell. I am deeply curious to learn about these stories to stay ahead of trends.

What’s your go-to strategy for building strong, lasting relationships with clients and the press?

I often get asked in business development meetings, “do you know anyone at Wall Street Journal?”  My reply is “Yes but if we don’t have a good story, it just means they will give me 10 more seconds before they hang up on me.” When it comes to building relationships with the press, it is imperative that you respect their time, since they are on deadlines and, nowadays, they wear many hats, and carry multiple beats. Make their life easy by pitching them good story angles, unique spokespeople, and afford them the flexibility to change their schedules. I have relationships with press that I have cultivated for over 20 years; I see them as people first, with common challenges (they’re working moms, part of the sandwich generation). Once we make that connection, work comes in easily and as long as you deliver on what you promise, those relationships will endure.

Can you share a campaign or media moment you’re especially proud of—and why it stands out?

There have been so many over my 25-year career in PR. I would say two stand out. The first is from my time in the corporate world. I was tapped on the shoulder to work with the Microsoft Communications team to prepare for then-CEO Bill Gates to go on stage in Las Vegas to launch the first smartphone using their Windows CE software. It was a big deal and an industry-first. Personally, it was a big deal for me to work on this project. The level of intensity, perfectionism, and the amount of learning I received working with Gates’ team, and ultimately being involved in successfully launching the new device for his unveiling proved to me my power of resilience and fortitude. The experience was beyond amazing.

For Magnolia, my biggest highlight would be going to New York City and then traveling to London, UK to launch a new service for a fintech client. From press meetings in NYC, running the launch event at The Museum of Modern Art (MOMA), then flying to London to host similar media events at historical halls was quite the rush. The pressure to have the media attend, and ensure the event ran flawlessly, all fit my drive to make clients happy and tell their story about the new software launch to their clients.

Which platforms or tactics have been most effective for growing your own brand visibility?

You know that saying “out of sight, out of mind”, continues to be true. Curated newsletters or direct emails to existing and previous customers are important to keep us top of mind. We can’t discount social media, especially LinkedIn for the B2B space, which is essential for expanding general touchpoints to reach a bigger audience.

What role has mentorship played in your journey, and how do you pay it forward to others in the industry?

I have several women who are my mentors, not in the professional world but more in the personal sphere. I see how they’ve dealt with being professional women, juggling multiple tasks and duties. It’s not easy. I see their grit, and their vulnerability, and that inspires me. I paid it forward by establishing the Magnolia Spirit Scholarship last year at Simon Fraser University (SFU) to honour young students who give back with volunteering and community service. I often hire young women for internships to give them a launchpad and professional experience to begin their career path.

How do you handle high-pressure situations or crises, whether for a client or your own business?

Running your own business is not for the faint of heart. Rejection is part of daily life. Running a professional service business comes with high pressure situations all the time. A key part of handling this type of pressure is by accepting this fact – rejection and high pressure come with the job, and they need to fuel you, not drain you. I don’t spend much time at pity parties. I get back on the saddle and onto a new adventure. It also helps to have similar peers and team members who share this attitude to deal with these situations with you.

What’s one piece of advice you’d give to women entering the PR or communications industry today?

You have to grow thick skin because rejection is part of the game. But use that armour to be highly creative with your stories and seek out relevant reporters, even as you navigate the rejection.

What are the 5 things you believe are essential to overcome self-doubt and build confidence in this field?

  • You can achieve anything you set your mind to
  • Have your closest friends as your biggest cheerleaders
  • Have your closest friends always tell you the truth – good and bad
  • Nothing replaces hard work to achieve what you want
  • Laugh. At yourself, with others but just laugh.

Is there a quote, mantra, or philosophy that guides your decision-making and leadership as a beauty entrepreneur?

I’m not a beauty entrepreneur, but my mantra is start each day and end your day with a gratitude bowl.  Take a deep breath and put in all the gratitude that surrounds you – big or small. 

Here is our signature question: “What Are The 5 Things You Need To Overcome Self-Doubt and Build Confidence?”

1.   Be prepared. I follow the Boy Scout’s motto in all aspects of work, and it’s the one piece of advice I offer clients. For our crisis communications clients, preparation has helped allay doubts and helped them through difficult periods.

2.   Stay adaptable. When I arrived in Vancouver in 1976, I found that we were one of the only Asian families in the area. The environment was not kind. I had to learn resilience as a child in the face of bigotry and rejection. I adapted by learning the language, and changing the food I brought to school. By adapting, I was able to strive further and become an entrepreneur.

3.   Follow your instincts. Self-doubt can come from not listening to your gut. I’ve learned to listen over the years, and my instincts rarely fail me.

4.   Celebrate the wins. We have a tendency in life to remember the bad things that happen. But you can’t build confidence by looking at the negatives. Celebrate the small wins to hone your gut and become more confident.

5.   The power of ‘no’. Running an agency for 20 years has taught me how important it is to say ‘no’, even if it makes you unpopular. I’ve accepted that fact, and it’s made me less doubtful and more confident. At Magnolia, I had to say ‘no’ to a client that was bringing nothing to the table, to ensure my team could concentrate on the clients that didn’t sap their energy.

Ok, we are nearly done. You are a person of great influence. If you could inspire a movement that would bring the most amount of good for the greatest number of people, what would that be? You never know what your idea can trigger.

I would aspire to have a place where people of Asian descent like me could tell their stories, be it happy, successful, sorrowful, inspiring, defeatist, or thought-provoking. Each person has a story to tell. I want to create a space where we can share our authentic stories to let others who share similar backgrounds know they are not alone. Together, our stories make us more connected, closer than we think. Stories on culture, arts, business, food, ancestry, it’s limitless. What’s your story to tell?

How can our readers further follow your work online?

You can follow me on LinkedIn.

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