Tuesday, January 25, 2011

What Goes Up Must Come Down / MediaPost

The Council of PR Firms is really upbeat about where our industry is heading this year. I could feel the optimism leaping from its recent quarterly survey, wherein over 80% of the companies polled said their final 2010 revenues exceeded the figures of the previous year. Even better, almost 60% of respondents expected PR budgets to be higher in 2011, with just 2% thinking that they will decline.

Why? New clients are coming through the gate. Another figure well in positive territory was the 56% of respondents opining that new business prospects were stronger than at the same time the previous year.

Well, duh. 2009 was a real crapper of a year, so comparing bad and worse doesn't reveal a totally accurate picture.

I don't want to be the Cassandra on the catwalk here and say that bad times are going to creep back and bite us. On the contrary, I'm thrilled about the council's news and think those optimistic projections are terrific for our industry. Positive vibes are contagious. Those delicate green shoots we waited for to sprout last year have now grown into bushes (well, knee-high little ones, at any rate). Clients did return in 2010, and although they weren't spending as much as they were previously, at least they were spending. At the same time, those new accounts -- that 56% of respondents are excited about -- started to emerge.

Budgets are rising; skepticism is melting. Hooray for that.

Continue reading here.

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