The year 2009 saw global PR agencies get hit hard by the worldwide economic crisis, yet not as hard as one might think. According to the International Communications Consultancy Organisation (ICCO), the majority of global markets showed little to no change over 2008 figures. The largest markets, the U.S. and the U.K., had a revenue drop of 5%, not far from 2008 figures.
These numbers have Richard Edelman, president and CEO of Edelman, scratching his head. “I think these numbers are optimistic,” he says. “I believe the top 10 PR firms declined 7% or 8% last year in the major markets, and some did worse.”
The ICCO report also included a list of countries with the best prospects for growth in specific PR disciplines (see chart below). The one discipline that showed the most growth: crisis and issues management. But don’t run and out and beef up your crisis coverage yet, says Edelman.
“Crisis is a small part of the overall PR business—high margin but low revenue,” he says, adding that his agency has seen real growth in marketing communications.
Andy Polansky, president of Weber Shandwick, confirms the PR/marketing emphasis. “Our clients are engaging us as part of the marketing dialogue” he says, adding that global agencies have much opportunity to get access to large marketing budgets—if they have the right strategies and people. PRN
CONTACT:
Richard Edelman, www.edelman.com; Andy Polansky, [email protected].
PR Disciplines With Prospects for Global Growth |
||
PR Discipline |
Locations With Best Growth Prospects |
Locations With Least Growth Prospects |
Consumer/Brand Marketing | Denmark, India, Norway, Spain, Turkey, UK, US | Slovenia, Switzerland |
Corporate/Strategy | Denmark, Norway, Poland, Portugal, Russia, Slovenia, Sweden, Turkey, UK | |
Crisis & Issues Management | Belgium, Czech Republic, Denmark, France, Ireland, Poland, US | |
CSR | Poland, Russia, Slovenia, Turkey | Belgium |
Digital/New Media | Brazil, Czech Republic, Finland, Italy, Poland, Portugal, Russia, Slovenia, Spain, UK, US | |
Event Management | Brazil, Poland, Portugal, Russia | |
Financial/Investor Relations | Brazil, India, Poland, Russia, Spain, Switzerland, Turkey | Denmark, Italy, US |
Healthcare | Austria, Belgium, Czech Republic, India, Ireland, Poland, Russia, Slovakia, UK, US | |
Image PR | Austria | Germany |
Internal Communications | Brazil, Czech Republic, Turkey | Spain, Sweden |
Media Relations | Brazil, Denmark, Finland, Norway, Poland, Sweden, Turkey | Germany |
Media & Spokesperson Training | Czech Republic, Denmark | Denmark |
Public Affairs | Austria, Belgium, Brazil, Czech Republic, Denmark, France, India, Russia, Spain, US | |
Reputation Management | Germany, Norway, Poland | Belgium |
Technology | Slovakia, India, UK | |
Source: International Communications Consultancy Organisation |