EDITORIAL: It's the same PR business, after all

It is no coincidence that three of the agencies leaving the PRCA this week - as its CMS becomes a membership requirement for the first time - are in financial PR, a high-margin business growing rapidly every day.

It is no coincidence that three of the agencies leaving the PRCA this week - as its CMS becomes a membership requirement for the first time - are in financial PR, a high-margin business growing rapidly every day.

Although the PRCA brings in new business, most financial firms already have more business than they can handle. Only an irresponsible agency finance chief would not alert his board to thousands of pounds spent for no visible return.

The interests of the wider industry suggest, however, that the PRCA should find a way to lure back financial agencies, if only to stop the waste of resources if the sector launches its own trade body having felt let-down by the PRCA.

It also needs reasserting that financial PROs need to abandon their attitude to the rest of PR and recognise that they are in the same business as everyone else - even if the area they work in requires financial know-how.

If and when the economy stops growing at its current rate, the financial PR world will not be so awash with cash. When that happens, it may find that some industry figures have long memories.



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