We have an open survey exploring how to best articulate the value our integrated firms deliver to prospects, clients and their procurement teams. We are convinced that all members will benefit from better educating our buyers.
According to the survey’s preliminary findings, 31% of our members refer to themselves as only PR agencies or firms; more choose strategic communications consultancies or firms and integrated marketing agencies.
Our members continue to derive most of their revenue from media relations (37% of total revenue), while strategic counsel/consulting represents 23%. Other capabilities (digital, content, influencer, paid, etc.) are predicted to significantly outpace media relations in the future.
This evolution is a huge opportunity for our members but requires clarity about our differentiation from advertising and other marketing agencies. We also need metrics that go beyond counting placements and impressions, or worse, those dreadful AVEs.
Here’s how we can grab our advantage and win more than our fair share:
1. Complete our survey if you haven’t already
Your input is essential to accurately capture the evolving identity and value proposition of our integrated firms.
2. Adopt and Advocate for Modern Metrics
Move away from outdated metrics like AVEs and instead adopt KPIs that reflect the full scope of your impact—such as business outcomes, audience engagement, brand reputation, and integrated campaign performance. Stay tuned—the PRC is going to help with this.
3. Showcase Case Studies That Reflect Integrated Value
Develop and share (including on our PRC site!) case studies that highlight how your firm delivers tangible value across media relations, strategic counsel, digital, content, influencer, and paid media. These examples will help educate prospects, clients and procurement teams on the breadth and depth of your services.
These are undeniably tough times for most of our firms, but investing the time to tackle the above now will pay off in the future. We’re here to help.