Like every other industry on earth, recent economic hardships have taken their toll on public relations. Some PR professionals are without work, many recent grads have yet to find work, and many gainfully employed practitioners claim they’ll start job searching as soon as the market turns around.
Interestingly, however, research supports the fact that PR is becoming more important, more sought-after, and rebounding faster than the average sector.
Public relations spending will top $3.4 billion in 2010, an increase of 3 percent over 2009, according to Veronis Suhler Stevenson, a private-equity firm that publishes annual reports on the state of the PR industry. Additionally, 75 percent of the 59 agency CEOs and CFOs surveyed by the Council of PR firms reported growth in the first half of 2010 vs. 21 percent in 2009.
No doubt other industries are watching this trend with at least a little jealousy and asking themselves how PR is making progress in such a tough environment. A quick look at how technology is changing the way consumers form opinions is the right place start examining the PR industry’s success.
A brand is the sum of its conversations, and new technologies are turning these conversations into individual relationships. Considering that public relations is about building relationships, driving conversation and message control; the growing prevalence of these technologies means new and increasing opportunities for the industry. Whereas before the connection between PR practitioners and target audiences was one-to-many, it’s quickly becoming one-to-one. Not surprisingly, these same factors are also driving ROI.
The savvy PR practitioner should own these new social and digital distribution channels because they’re based on foundational elements of good public relations: relationships and conversation. Sure they’re online and revolve around some sort of technology, but it’s just a delivery vehicle, like the fax machine once was. This is an evolution of consumption, but the principles remain the same. It’s about listening, understanding the medium and creating consistent messaging that resonates with consumers.
Tom Harrison, chairman and CEO Omnicom Group's Diversified Agency Services, said in a recent AdAge article that the improvement (in the PR industry) is due to the dual role PR plays for marketers. "PR can prepare a brand or product for its target market while also preparing the market for that new brand or product. There isn't another discipline in all of communications services that can do that for a brand."
Richard Edleman, agrees. "We're seeing the combining of corporate reputation and brand marketing and that plays to PR's strengths.”
He’s spot on, creating consistency between the push and the pull, the earned and the owned, events and grass-roots, paid and social, is exactly what great public relations can bring to the table -- one voice.
It’s the increase in touch points that’s driving the growth in the public relations industry. Social and digital platforms, as well as word-of-mouth marketing, and creating evangelists out of consumers and employees, all play directly into the PR wheelhouse.
But that’s not to say the PR business is getting easier. Message alignment across the growing number of channels is becoming more difficult, but is also the key to successful branding. Focusing on making new technologies support longstanding PR principles such as, consistency and transparency, credibility, believability and reciprocity will earn the business relationships that yield the best ROI.
Do you think the public relations industryis in an opportune position? Is your company, or one you’re familiar with, effectively integrating its communications?
If so, tell us your thoughts by leaving a comment below!
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