ICCO’s first Industry Barometer of 2015 predicts strong growth in the global PR industry, underpinned by broadly positive budget discussions between consultancies and their clients.
ICCO’s first Industry Barometer Pulse Check™ of 2015 predicts strong growth in the global PR industry, underpinned by broadly positive budget discussions between consultancies and their clients.
The Industry Barometer Pulse Check™ conducted in January 2015 across ICCO’s membership also showed that new pipelines are buoyant, as consultancies adopt new models of working, diversifying their offerings.
The barometer produced four key findings:
- 40% of consultancy respondents describe budget discussions as ‘generally positive’ versus 7% describing them as ‘very dull –we are expected to over-deliver all the time for less money’
- 42% said that RFPs are increasing versus 13% reporting the market as ‘very competitive and overcrowded’
- An equal number of respondents said that they had refreshed their business model over the last year and that it was making ‘a real difference’; as said it was ‘a priority’ over the next twelve months (31% in each case)
- 50% said that the industry would grow by at least 10% over the next year, compared with 5% saying that it would decline by 10%
Commenting, Francis Ingham ICCO Chief Executive said:
“The outlook for the global PR community remains highly positive, with growth expected and budget discussions positive. In large part, this reflects the resilience and flexibility of consultancies –their ability to change their models, to diversify their offerings, and to grow into new markets is their trademark, and is providing the engine of their growth”
Binta Kristin Hammerich, ICCO General Manager said: “ICCO is delighted to announce it is now working with Question & Retain (Q&R) to provide more industry insight for all of its members. Please look out for our next Pulse Check™ on overall membership satisfaction which will be coming out in late March 2015.”
The International Communications Consultancy Organisation (ICCO) is the voice of public relations consultancies around the world. The ICCO membership comprises national trade associations in 30 countries across the globe in Europe, Africa, Asia, the Americas and Australia. Collectively, these associations represent over 1,900 PR firms.
Contact Binta Kristin Hammerich, ICCO Global General Manager