Council survey finds industry growth continues

NEW YORK: A year-end survey from the Council of Public Relations Firms found that 83% of surveyed firms experienced an average of 12% growth in 2005.

NEW YORK: A year-end survey from the Council of Public Relations Firms found that 83% of surveyed firms experienced an average of 12% growth in 2005.

Also, 95% of firms expected growth in 2006, with the average rate pegged at more than 14%. Sixty firms participated in the survey.

"We were glad to see the firms that responded showed continued growth," said Kathy Cripps, Council president.

Participating firms said the largest sector growth occurred in the consumer products and services and healthcare industries. 

"The idea that the consumer market is up is consistent with what we're seeing; that more companies like P&G are realizing the power of PR in marketing," Cripps said.

Cripps says that among the anecdotal evidence collected, procurement has become less of an issue that keeps PR professionals up at night. But new business acquisition was something that continued to concern the respondents. Cripps added that PR professionals felt that the discipline's growth in the marketing mix led them to appreciate that the stakes have risen.

"As PR becomes a bigger share of the budget, there are more demands for showing a return," Cripps said

Among the other gleanings, about 90% of firms are currently hiring, and 57% of firms increased staff in 2005.


 

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