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.
Used to be, PR pros were called only after a marketing campaign was fully baked and asked to knock out a press release and work with the media to get the message out. No longer. These days, the currency for communicators lies in strategic decision-making, as indicated by PR News’ 2014 Salary Survey.
While many PR pros and communicators landed salary increases last year, the percentage increases (for the most part) were nothing to write home about.
Qualities Workers Value Most Found to Be Most Lacking; Customer Complaints on Social Media Get Short Shrift
Depending on how much access they have toward the C-suite, PR pros can enhance their value by counseling senior managers to be more transparent when communicating to the rank-and-file as well as other stakeholders.
Amid the plethora of PR tools available to communicators, underwriting academic research to help get the message out presents both great opportunity and an equal measure of risk.