The Mighty Have Fallen? Recession-Proof Agency-Client Relations


This time last year, as the U.S. economy rapidly approached the symbolic cliff's edge from which it would fall, the public relations industry seemed to be standing strong. A 2008 survey of PR agencies conducted by StevensGouldPincus revealed good fortune relative to that of other industries, many of which had already begun to fall like dominos. Among the statistics that implied a hopeful forecast were the following: 83% of surveyed agencies reported that client budgets increased for 2008, while only 7% reported decreases and 10% reported no change; 75% predicted their revenues would increase in 2008, and only 7% anticipated declines; and, Only 18% said that economic conditions would have a negative effect on their bottom line.

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