NEW YORK: A pair of surveys conducted by the Council of Public Relations Firms have highlighted some positive trends in the industry.
The council's quarterly Quick Survey, compiled in July with more than 50 council members polled, found that 75% of responding firms experienced a rise in revenue for the first six months of this year, compared with the same period last year.
The respondents reported an average 13% revenue increase in the first quarter of this year, compared with the first quarter of last year. In other positive news, 83% of firms reported a rise in new business activity, and nearly two-thirds said they were capitalizing more on these new opportunities than last year.
The council also conducted its annual Business Practices Benchmarking Survey in April and May, which got 81 responses. It found that 89% of surveyed firms expect revenues to rise this year, a sharp contrast to last year's growth expectations from only 44% of firms. Also, the average revenue per professional rose nearly 6%, with an overall average of $186,113.