EDITORIAL: Making PR more professional

It used to be an accepted fact that PR consultancy was a flaky business.

It used to be an accepted fact that PR consultancy was a flaky

business.



As recently as ten years ago, it was not uncommon to hear tales of

financial mismanagement which would give an accountant heart failure.

Businesses which grew weed-like during the 1980s boom, when even the

most incompetent were able to thrive, shrivelled and collapsed the

instant that recession hit. Training was a joke, and the idea of

adhering to quality standards was not even on the agenda.



How times have changed. The PRCA benchmarking study reveals a picture of

the typical PR consultancy as a well managed, professional service

business producing respectable profit margins, and investing wisely in

people, systems and standards.



But despite the strides that the business has made in professionalising

itself, the average hourly charge-out rates still look out of step with

other professional service firms like lawyers, accountants and IT

consultants.



If nothing else, the PRCA findings should give PR firms the confidence

to charge rates which are more in line with the value they provide to

clients.



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