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Public Relations Services
First Research, March 2012, Pages: 10
First Research is the leading industry intelligence company that helps sales teams perform faster and smarter, open doors, and close more deals. First Research performs the heavy lifting' by synthesizing hundreds of sources into an easy to digest format that a sales person can consume very quickly to better understand a prospect's business issues.'
Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US public relations industry includes more than 7,000 companies with combined annual revenue of about $8 billion. Major companies include divisions of Omnicom, Interpublic, and WPP. The industry is fragmented: the top 50 companies account for about 40 percent of industry revenue.
COMPETITIVE LANDSCAPE
Demand is driven primarily by the health of the US economy and corporate profits. The profitability of individual companies depends on the value of the creative services delivered and efficient use of personnel. Large companies have advantages in having multiple subsidiaries that offer different marketing services to large customers and some economies of scale in marketing. Small companies can compete successfully by specializing in a particular industry or geographic market.
PRODUCTS, OPERATIONS & TECHNOLOGY
About 70 percent of PR agencies provide a full range of services including media relations, crisis management services, lobbying services, event management, and fundraising services. The remaining agencies specialize in one or more of these services.
PR agencies manage the communication between clients and their audiences. Agencies consist mainly of a staff of professionals with various levels of expertise, and support personnel with technical and clerical skills. PR specialists interface with clients and media outlets to communicate their clients’ messages. PR specialists work with various media to educate, correct mistakes, and build or improve the image of an organization, person, or product. Specialists write press releases and stories for printed media, conduct interviews promoting their clients, and develop opportunities for their...
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