Recession has gone from bad to worse affecting world countries a lot ever since it kick started in the month of sept 2008.Organizations of various industries have been affected by the down turn and some of them had to shut the doors for ever. While recession left many industry sectors in tatters what is the effect it on PR industry? Even though some surveys expound recession has little effect on PR industry and it remained springy, of course not cheerful, but reasonably optimistic. The recession has forced public relations and corporate communication professionals work longer hours, deal with added responsibilities and stress, and perform within reduced budgets.
Thanks to the down turn which made an alarming difference in perceptions between PR agencies and Corp Corm Professionals regarding the working relationship between them. Meeting deadlines, Good Client Services, centralized focus on client needs, importance of crisis management, greater consumer activism, and working on tighter budgets with maximum mileage were explored.
Big corporates used to work with more than one PR agencies for their different products have shown way to the one which is incompetent and have entrusted the responsibilities to one agency as part of their cost cutting major. Work load has been divided between only the most sought after agencies.
Luckily there are certain areas in the PR industry which have seen expansion in recession too. The greatest growth we can see in digital PR, followed by reputation management, crisis management and strategic planning as per a survey conducted in USA and the areas that have seen decline and perhaps a great threat were sponsorship, event management and branding and marketing.
The survey did bring some good news for consultancies both in terms of business stability and client new growth. In the past year, some 33 per cent of consultants have retained more than 10 regular clients and some 60 per cent have added between two and five new clients.
Thanks to the down turn which made an alarming difference in perceptions between PR agencies and Corp Corm Professionals regarding the working relationship between them. Meeting deadlines, Good Client Services, centralized focus on client needs, importance of crisis management, greater consumer activism, and working on tighter budgets with maximum mileage were explored.
Big corporates used to work with more than one PR agencies for their different products have shown way to the one which is incompetent and have entrusted the responsibilities to one agency as part of their cost cutting major. Work load has been divided between only the most sought after agencies.
Luckily there are certain areas in the PR industry which have seen expansion in recession too. The greatest growth we can see in digital PR, followed by reputation management, crisis management and strategic planning as per a survey conducted in USA and the areas that have seen decline and perhaps a great threat were sponsorship, event management and branding and marketing.
The survey did bring some good news for consultancies both in terms of business stability and client new growth. In the past year, some 33 per cent of consultants have retained more than 10 regular clients and some 60 per cent have added between two and five new clients.