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It’s not pretty earnings-wise for PR agencies right now. Operating profit this year fell to an average of 16.1%, from 18.8% last year, according to an exclusive report produced by StevensGouldPincus on behalf of PR News.
The Web, which is predicated on analytics, has enabled PR execs to get more comfortable playing the numbers game and, perhaps more important, giving meaning to the numbers as they relate to corporate goals and financial objectives.
New business is the lifeblood of any communications agency. While the added income an agency can generate from existing clients is the best and most profitable type, obtaining new clients is critical, because there’s generally a limit to how much additional income even the most satisfied clients will give its agency in a given year.
What’s a parent who wants to maintain a successful public relations career to do?