Agency Optimism High: A Q4 2011 survey of member PR agencies by the Council of PR Firms finds that 70% reported that final 2011 revenues will be higher than those in 2010. Just 13% anticipate lower revenues. About half of the member agencies experienced double-digit growth, with figures consistent across all revenue categories. Other study findings include:
Over a third (35.5%) of agencies anticipate higher budgets in 2012, up from only 21.8% in the Council’s Q3 survey.
More than 60% of agencies reported increased head counts at the end of 2011 as compared to a year earlier. A majority of firms anticipated boosts in hiring, while fewer than 10% predicted reduced hiring.
Almost two-thirds of firms reported a swelling in the mid-ranked account executive/account supervisor categories, while half reported hiring in the entry-level positions and 46% in VP/senior VP. A third of all agencies planned to increase the ranks of non-traditional hires coming from outside public relations.
About three-quarters of the agencies expect growth in social media, while over a third also expect growth in business-to-business, corporate communications and issues management.
Source: Council of PR Firms