Confessions of an Account Exec.: PR Life Is Good Right Now
Bridget M. Forney | MediaBuzz
The economy may be in the trenches, but in PR, business couldn’t be better. According to a report recently released by the Council of Public Relations Firms (CPRF) on a series of results from an online survey of its members this year, more than 70% of firms have seen an increase in profits so far in 2010 compared to the first half of 2009.
Firms aren’t only reporting an increase in profits. 81.5% of them expect to see higher revenue earnings this year. The confidence in prospective earnings could be attributed to the fact that three quarters of firms experienced an increase in new business opportunities between January and March of this year compared to leads during the same time frame of 2009.
While PR firms are certainly expecting to grow in size and increase income to match, respondents showed the most optimism toward opportunities and growth for public relations in online media (25%), issues and crisis management (21%) and public affairs (14%).
But what does all of this industry success mean for you? PR is an industry that is affected by changes in the technological, marketing and advertising worlds. That means that firms in the business are reforming to reflect the changes and, quite frankly, keep their heads above water. With those changes, comes growth. Where there is growth, there is opportunity. The unemployed or recently graduated could not have come at a better time to join the industry and the thousands of amazing communications professionals within the business. While it has long been seen as an alternative to advertising or marketing, PR serves a valuable role to businesses. Public relations is no longer just the art of getting mentioned in a news publication. For companies of any size and life-stage, it is something businesses are learning they cannot afford to ignore. The business of PR is a lucrative one and there are paying clients out there who could someday be paying you.